EN
Crypto
Republic Protocol
REN
Republic Protocol
0.02969
-8.44%
≈0.02969
Circ/Total Supply
1000000000/1000000000
100%
Volume/24h%
3796829.853998
-8.44%
#--
24h Turnover
12.79%
Republic Protocol is an open source, distributed dark pool Protocol that facilitates automated cross-chain transactions between Ethereum and Bitcoin on a hidden order. Protocol miners run equation solving nodes to match orders to complete transactions to obtain REN token rewards without exposing potential orders. It creates a trust-free trading system that supports high-volume REC20, ETH, and BTC trading pairs without price slippage and pre-emptive trading. The Republic Protocol uses atomic exchanges to trade bitcoin, Ether, and other tokens. Transactions are recorded in an implicit order book and are matched by a multi-party computing protocol engine, which ensures that the details of the order are not exposed until it is executed, while also making it easier for other traders.
Republic Protocol does not require a trusted third party to operate dark pools, and it builds a healthy and rational economic ecosystem through token REN. The aim is to develop dark pool protocols with high security, high dispersion, high scalability and high throughput. Republic Protocol will help traditional institutional investors quickly enter the digital currency space. It hopes to popularize and accelerate the development of blockchain.
Ren (Ren) is an open protocol designed to provide interoperability and mobility between different blockchain platforms.
Ren, formerly Republic Protocol, launched its virtual machine host network RenVM in May 2020 and completed a $34 million initial coin offering (ICO) in 2018.
REN, the protocol's native token, acts as a bond for the running nodes (called Darknodes) that power RenVM.Ren aims to extend the interoperability of decentralized Finance (DeFi) by removing barriers to liquidity between the blockchain chains, thereby extending its accessibility.
Ren was founded in 2017 by CEO Zhang Yangguang. Ren was originally called the Republic Protocol and was first announced in January 2018, with Zhang explaining its initial use case as "decentralized dark pools." Zhang himself has extensive experience in cryptocurrencies and also co-founded crypto hedge fund Virgil Capital. Prior to that, Zhang co-founded Neucode, a software and web development startup, in 2014. Another co-founder of Neucode, Jaz Gulati, is now a software developer at Ren.
Ren is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment in DeFi projects.
as a plug-in, it allows the DeFi project to introduce foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) into its products. More broadly, users can essentially exchange any token between any two blockchains without intermediate steps, such as using so-called "wrapped" versions of tokens, such as wrapped Bitcoin (WBTC) and wrapped Ethereum (WETH).
RenVM is the network of virtual computers that make up the virtual machine. The machines that power the network that makes up RenVM are called dark nodes.
Ren charges a variety of fees for internal operations, but most of them don't make money directly; they pay miners instead. As a ERC-20 generation coin, REN also attracts different gas fees to facilitate transactions.How many ren (ren) coins are in circulation?
REN's fixed supply is capped at one billion (1,000,000,000) tokens. Ren conducted pre-sales and public token sales in 2018, during which it sold 60.2% of its supply to investors.
Ren has a reserve fund that initially allocates 19.9% of the total supply, while another 9.9% is allocated internally to advisers, teams, and their founders. Team tokens have a two-year lock-up period and advisor allocations have a six-month lock-up period. Another 10% of REN supply is dedicated to activities such as partnerships and development.REN is the ERC-20 standard token.
How secure is ren network?
RenVM is a Byzantine fault-tolerant protocol that facilitates ECDSA threshold key generation and signing via secure Multi-Party computing (sMPC). This allows RenVM to securely manage (ECDSA) private keys on different blockchains so that tokens can be transferred between these blockchains (i.e., interoperability).
The network is currently at phase zero of the decentralized approach. For more information about RenVM's decentralized approach, see Ren's Wiki
Where can you buy ren?
REN is a freely traded token that can be found on all major exchanges. Among them, Binance and Huobi Global have the largest volume between October and 2020 on cryptocurrency, Fiat, and Stablecoins.| Distribution of tokens | Number of | Percent |
|---|---|---|
| private | 566000000 | 56.6% |
| The company reserves | 199000000 | 19.9% |
| Team and consultant | 99000000 | 9.9% |
| Public offering | 86000000 | 8.6% |
| Community and partners | 50000000 | 5% |
