THELOGICALINDIAN - Ren a decentralized accounts agreement affable to Ethereum that enables interblockchain clamminess has appear the barrage of the RenVM mainnet
The aggregation said that RenVM will accompany cross-chain assets to the Ethereum ecosystem. This will activate aboriginal with the addition of BTC, BCH, and ZEC, and after with added agenda assets.
Non-Custodial Bitcoin Coming to Ethereum With RenVM
Interacting with added blockchain networks has been one of the longest-prevailing problems the Ethereum decentralized accounts amplitude has had to accord with. And while the bland transitions amid accessible blockchains are still a continued way ahead, the ambition has become a bit added accessible acknowledgment to the barrage of Ren Protocol’s amount product.
The inter-blockchain clamminess provider has announced the mainnet barrage of the Ren Virtual Machine (RenVM), a decentralized aegis band-aid that allows the seamless movement of assets amid blockchains.
While the Ren Protocol currently allows users to tokenize Bitcoin, Bitcoin Cash, and Zcash, Ethereum could anon see added boilerplate cryptocurrencies acclimated as accessory of Ethereum’s DeFi stack.
“Generic interoperability has been a arrow in DeFi’s side, and we’re captivated that RenVM is now analytic this botheration by enabling cross-chain clamminess to crypto investors everywhere,” said Taiyang Zhang, CEO and co-founder of Ren.
The Company Has Big Plans For the Ren Protocol
According to the announcement, the aggregation seems to be aggravating to get advanced of the anarchy that is about. Loong Wang, the CTO and co-founder of Ren, said that Ren is ambience out to accommodate a “catch-all utility” for the abutting bearing banking arrangement area blockchain interoperability is the norm.
“Our ambition is for RenVM to action as a arch amid not alone Bitcoin and Ethereum, but any apprehensible brace of blockchain-based tokens, including stablecoins like Libra and China’s agenda yuan,” he said.
The company’s amount product, RenVM, will act as a decentralized babysitter of assorted crypto assets. For anniversary badge it holds, it mints addition that is represented on the Ethereum blockchain in the anatomy of an ERC-20 accepted token. This approach, while bill activated alone to the Ethereum ecosystem, can be activated to added acute arrangement protocols such as Polkadot and Tezos.
In-house advancements fabricated to the Secure Multi-Party Computation (sMPC) will acquiesce users to move assets to and from any blockchain after the charge for a centralized apparatus or a permissioned system, the aggregation explained.
The protocol’s built-in token, REN, has reacted acerb to the mainnet launch. It began a apathetic and abiding acceleration in the aboriginal anniversary of May, as holders best acceptable advancing a cogent amount movement already the RenVM launched. The bread saw its amount access by added than 50% this month, ascent from $0.068 on May 1 to $0.103 on May 27.
