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    What is Ren coin? All information about Ren coin price, chart and market cap

    Ren is an open-source protocol layer that can anonymously liquidate huge volumes of transactions through the decentralized "Dark Pool". Ren uses a guaranteed multilayer algorithm (sMPC) to match a trader's orders without revealing the price or quantity of orders.

    Ren-is-republic0protocol

    What is Dark Pool?

    Dark Pool is a private exchange, it is similar to OTC transaction, where individual and institutional investors can anonymously execute orders on the price and quantity of transactions. Unlike traditional exchanges, orders are publicly available on an order book. And RenEx is Ren's Dark Pool trading platform, which is currently in beta.

    What problem does Ren solve?

    Imagine you have 100BTC and want to sell it secretly without affecting the market. With Ren Dark Pool, you can submit orders to "Dark Pool" and others wishing to buy will execute your orders without anyone knowing who you are dealing with.

    That was the problem Ren wanted to solve. Privacy for decentralized financial (Defi) apps.

    How does Ren work?

    The structure of Ren includes 3 different floors including:

    - Application Layer

    This is the top floor, which is the application of Ren's technology.

    For example RenEX, SwapperD ... etc.

    - Core layers

    This is the layer containing the core layers of Ren, including:

    • Zero-Knowledge Transaction Layer

    This layer is capable of storing and transferring tokens between different Blockchain networks without revealing wallet balances and transaction tokens.

    • Interoperability Layer

    This layer layer is scalable Zero-Knowledge transactions and can perform reliable swaps between blockchains in secret.

    • Dark Pool Layer

    This is the class that decides the secret execution of orders. Only the person doing the transaction knows the volume and volume of the transaction (not even the exchange).

    - RenVM

    RenVM is like an operating system, it uses a combination of a secure multilayer algorithm (sMPC) and zkSNARK to allow applications, the core layer running on top of it to ensure confidentiality.

    RenVM was developed to replace the use of another 3rd party VM. This will lead to more trust in Ren's network.

    What is REN coin?

    Ren (Ticker: REN) is the main token operating in Ren's network. It was first released to the market in early 2018 through the form of ICO. Currently, Ren is running on the Ethereum platform under the ERC20 standard.

    Basic information about REN coin

    • Ticker: REN
    • Contract: 0x408e41876cccdc0f92210600ef50372656052a38
    • Decimal: 18
    • Blockchain: Ethereum
    • Token Standard: ERC-20
    • Token type: Utility token
    • Total Supply: REN 1,000,000,000
    • Circulating Supply: 780,830,323 REN

    Token Allocation

    With an initial total supply of 1 billion tokens, REN is divided into parts by the development team at the following proportions:

    • 56.6% is sold through Private Sale round.
    • 8.6% is sold through the Public Sale round.
    • 19.9% ​​is used as a reserve fund.
    • 9.9% is held by the development team and advisors.
    • 5% for community and development partners

    Ren-token-allocation

    Token Distribution

    91% of the REN tokens were on the market in February 2020.

    What is Ren used for?

    REN tokens have two main uses in Ren's network, including:

    - Order Fees

    Traders must pay the order fee in REN when submitting the order. If the order expires before being executed, the fee is returned to the trader.

    The current Order fee is 0.2% per party (2 parties transaction is 0.4%) and 80% of the order fee will belong to DarkNodes.

    - Bonds

    REN tokens are used to pay bonds to Registars, allowing traders and matching nodes matching orders to join Ren's network.

    What are the best wallets to secure Ren token?

    Ren (REN) is still an ERC20 token so you can store REN on Ethereum-enabled wallets like:

    • Web Wallet: Myetherwallet, Mycrypto.
    • Hard Wallet: Ledger Nano S, Trezor, imToken.
    • Extension: Metamask.
    • 3rd Parties: Atomic Wallet, Trust Wallet.

    Besides, you can also store on reputable exchanges that have enabled REN trading.

    But, if you want to keep it for a long time and the quantity is large, you should limit the use of this store on this floor to avoid hacking the floor.

    Ren exchange

    Ranked 125th according to CoinMarketcap after more than 1 year of establishment and development. REN is currently supported for trading on 5 different large and small exchanges. In particular, REN is being traded the most active on the Binance floor with 91.21% of the total trading volume.

    Best-exchange-for-ren

    Future of Ren

    With the relatively good recent development of decentralized finance (Defi) and the impact of Privacy, we can easily see Ren's growth potential.

    Hopefully, in the coming time, Ren will perfect the products perfectly and develop an ecosystem of applications using their solutions.

    VakaFx will continue to monitor and update the latest information on this project. If you have any questions, feel free to leave a comment. We will respond as soon as possible.

    Follow our official channels for up-to-date the latest information: 

    - Website: https://vakafx.com

    - Email: [email protected]

    - Telegram: @vakaxasupport

    ➤ Learn more: What is Thorchain (Rune)? Everything about Rune price, chart, and market cap

    21 Aug
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