Ren (REN) Tausch

What is Ren?

Previously known as Republic Protocol, REN is a blockchain project that aims to bring interoperability and privacy in the DeFi ecosystem. Essentially, REN makes it possible for users to transfer supported coins and tokens across blockchains. This is done in a trust-less and fully decentralised environment. The project launched in 2018 and did two rounds of ICO, raising $28 million in the first ICO and $4.8 million in the second ICO, becoming an essential player in the growing DeFi space.

REN employs the concept of dark pools. Dark pools are over the counter markets that allow investors to make significant asset purchases, and they exist in both crypto and traditional financial markets. However, in conventional markets, one is never sure that the centralised party making the transaction possible will keep the purchase secure and anonymous. REN enables the process of dark pool trade to happen in a trust-less environment.

The other system that has to be understood is REM Virtual Machine. It is connected with networks called Darknodes, which help to identify and process transactions between blockchains protocols, and it is a trust-less process. REN token is used to pay fees for transactions made on the RENVM.