Ren (REN) - The cryptocurrency that seeks for users to exchange their coins efficiently.
- Ren (REN) was launched in 2018 as an efficient solution for exchanging cryptocurrencies on various blockchains.
- It is built on RenVM technology, a virtual network of machines that execute transactions on a day-to-day basis.
- The native token, REN, was used to pay for transactions within the network, but now it is also used to exchange.
Key metrics of Ren (REN)
Cap de Mercado
What is Ren (REN)?
Ren (REN) is a cryptocurrency that was launched in 2018 with the goal of enabling the secure and decentralized exchange of cryptocurrencies across different blockchains. In other words, Ren seeks to solve the problem of interoperability between blockchains, allowing users to exchange crypto efficiently and without the need for a centralized entity to act as an intermediary.
The technology Ren is working with is called RenVM, which is a virtual network of machines that are responsible for executing transactions on different blockchains. RenVM is designed to be completely decentralized and secure, meaning that users can exchange cryptocurrencies without worrying about asset loss or data manipulation.
Ren (REN) was founded in 2017 by Taiyang Zhang and Loong Wang. The company's main goal was to solve the problem of interoperability between blockchains, which would allow users to exchange cryptocurrencies without the need for a centralized entity to act as an intermediary.
The first version of the RenVM network was launched in May 2020, after going through several security tests and audits. Since then, RenVM has grown rapidly and gained the trust of many in the crypto community.
In addition to its focus on interoperability, Ren has collaborated with several major companies and projects in the cryptocurrency industry. For example, in 2019, Ren collaborated with Kyber Network to create an on-chain cryptocurrency exchange solution. In 2020, Ren also collaborated with MakerDAO to enable MakerDAO's synthetic tokens to be used on different blockchains through RenVM.
Since then, Ren has launched several products and solutions, including an Ethereum-Bitcoin bridge called RenBridge, a cryptocurrency Wallet called RenWallet, and a decentralized liquidity platform called RenVM Mainnet.
Ren (REN): what makes it different and why invest?
REN is the native token of the RenVM network and is used to pay transaction fees and for network governance. In addition, users can earn rewards in REN by providing liquidity to RenVM liquidity pools. This means that its main task was to provide liquidity.
In terms of price, REN has experienced significant volatility since its launch in 2018. Its price has ranged from a few cents on the dollar to over $7 in 2021. As with any cryptocurrency, REN's price is influenced by several factors, such as supply and demand, RenVM network performance and overall market conditions.
This coin has a supply limit of one billion tokens, of which 60.2 of the total supply was sold to investors, in addition, another 10% is focused on maintenance and research within the network.
It has not been reported, at least publicly, if there is any cryptocurrency burning system to stabilize the price.
Other listings available on TruBit Pro 👇
▷ Pax Dollar (USDP) | What is and Price | Available in TruBit Pro
Pax Dollar (USDP) is now listed on TruBit Pro. Find out what it is, technical data, price
▷ USD Coin (USDC) | What Is and Price | Available in TruBit Pro
USD Coin (USDC) is now listed on TruBit Pro. Find out what it is, technical data, price and how to invest.