THELOGICALINDIAN - Ren has launched a absolute arch to Solana It allows users to move tokenized versions of Bitcoin and added assets assimilate the Layer 1 blockchain
A tokenized adaptation of Bitcoin is now accessible on Solana via Ren’s bridge.
Ren Integrates Solana
Ren has launched a arch to Solana.
The activity announced the affiliation Thursday, acquainted that “Solana brings a different set of appearance to the Layer One space, forth with a growing ecosystem and community.” Solana is a high-throughput Layer One blockchain that offers agnate DeFi functionality to Ethereum. However, it processes affairs at a abundant college acceleration and lower bulk than the second-ranked blockchain. The ecosystem has developed at a accelerated clip this year and the activity has accustomed a cogent bulk of attention: the blockchain’s built-in SOL badge has climbed to 13th rank of all cryptocurrencies.
Ren, additionally accepted as RenVM, will accompany added action to Solana by alms a arch to accompany assets assimilate the network. It works by acceptance users to excellent tokenized versions of the asset they accompany assimilate the bridge. It aims to accomplish cross-chain interoperability, and it’s been decidedly acknowledged in alms a way to use Bitcoin in DeFi on Ethereum. It additionally integrated Polygon aftermost ages and partnered with Alameda Research to accompany Solana-based assets to Ethereum’s DeFi arrangement in February.
The Solana x RenVM arch will initially abutment four assets: BTC, BCH, ZEC, and DOGE. It will after add DGB, LUNA, and FIL. The Ren-based versions of anniversary asset will again be accessible to use on Solana.
In the blog column announcement the integration, Ren added that it would assignment “to ensure Ren-based assets are adopted throughout the Solana ecosystem,” authoritative specific advertence to projects like Serum, Mango, Oxygen, and Step Finance.
Perhaps the best notable development is Ren’s abutment for Bitcoin on the Layer 1 network. Tokenized versions of the aboriginal crypto asset are best frequently put to assignment in Ethereum’s DeFi ecosystem today, but that could anon change if Solana sees added adoption.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ETH2X-FLI, MATIC, and several added cryptocurrencies.
