What is Ren (REN) Ren (REN) is an open protocol created to provide interoperability and liquidity between different blockchain platforms. To learn more about this project, check out our in-depth study on Ren. Formerly known as the Republic Protocol, Ren launched RenVM, its core network of virtual machines, in May 2020 after completing a $34 million initial coin offering (ICO) in 2018. The protocol is the native token, REN, serves as a link for those running nodes that power RenVM, known as Darknodes. Ren aims to expand the interoperability and thus accessibility of decentralized finance (DeFi) by removing the barriers involved in liquidity between blockchain. Who are the founders of Ren? Ren was founded by Taiyang Zhang, its CEO, in 2017. Initially called Republic Protocol, Ren was first announced in January 2018, with Zhang explaining its initial use as a "decentralized dark group." in the cryptocurrency space, having also co-founded cryptocurrency hedge fund Virgil Capital. Previously, Zhang co-founded Neucode, a software and web development startup, in 2014. Jaz Gulati, the other co-founder of Neucode, now works as a software developer for Ren. What makes Ren unique? Ren is a complex platform with multiple use cases, but is ultimately designed to overcome barriers to entry and investment for DeFi projects. As a complement, it enables DeFi projects bring foreign cryptocurrency assets like Bitcoin (BTC) and Zcash (ZEC) into their offerings More generally, users can trade essentially any token between two blockchains without any intermediate steps, such as using so-called "versions" wrapped” tokens, such as Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH). RenVM is a network of virtual computers that make up a virtual machine. uines that feed the network that makes up RenVM are called Darknodes. Ren charges various commissions for internal operations, but most of them are not for direct profitability, but are paid to the miners. As an ERC-20 token, REN also attracts various gas fees for fuel transactions. Related Pages: Learn more about Chainlink here. Learn more about Cosmos here. New to cryptocurrencies? Find all the answers you're looking for with Alexandria, CoinMarketCap's dedicated educational resource. Check out Alexandria's Deep Dive Into RenVN. How many Ren (REN) coins are in circulation? REN has a fixed supply limit of 1 billion (1,000,000,000) tokens. Ren held a presale and public token sale in 2018, during which a total of 60.2% of the supply was sold to investors. Ren has a reserve fund that was originally allocated 19.9% of the total offering, while another 9.9% was allocated internally to the consultants, the team, and its founders. Team tokens were given a two-year lock-in period, with a six-month lock-in period for consultant assignments. Another 10% of REN's offer is specifically earmarked for activities such as partnership and development. REN is a standard ERC-20 token. How is the Ren network secured? 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, making it possible to move tokens between these blockchains (i.e. interoperability). The network is currently in a sub-zero phase in its decentralization journey, for more information on RenVM's path to decentralization, see Wiki Where can you buy Ren (REN) for Ren? important exchanges. Of these, Binance and Huobi Global have the highest volume as of October 2020. The pairs include cryptocurrencies, fiat currencies, and stablecoins. Read our easy guide to buying Bitcoin and other cryptocurrencies.