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📺Important Movies📺

RenVM Defined 👉
Pancakeswap Defined 👉
Tokenomics Defined 👉


0:00 Intro
2:28 Ren Recap
5:02 Ren Updates
6:55 REN Worth Evaluation
9:45 REN Worth Potential
11:31 Ren Roadmap
13:46 Centralization Issues
15:40 Conclusion


⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️

► Ren defined intimately:
► Ren Bridge 2.0:
► Ren + Alameda partnership:
► RenVM statistics:
► Ren centralization particulars:


👨‍🏫Ren Recap👨‍🏫

Ren was based by Australian software program builders Taiyan Zhang and Loong Wang in late 2017. Again then Ren was often known as ‘Republic Protocol’ and centered on making it doable to do trustless OTC trades.

Republic Protocol rebranded to Ren in 2019 and shifted its focus to interoperability, making it doable to switch cryptocurrencies between blockchains in a trustless method.

The Ren primary web launched in Might of 2020, making it doable to make use of Bitcoin, Bitcoin Money, and Zcash on the Ethereum blockchain.

📰Ren Updates📰

In August 2020, Ren partnered with Acala Community to carry Bitcoin to the Polkadot ecosystem. In September 2020, Ren introduced they’d even be supporting the Binance Good Chain.

In October, the Ren token was listed on Coinbase. In November, Ren unveiled their Multichain improve, which foreshadowed assist for Digibyte, Dogecoin, Filecoin, and Terra.

In February, Ren formally built-in the Binance Good Chain. In addition they turned part of Alameda analysis and can be working to carry wrapped belongings to the Solana blockchain.

📈REN Worth Evaluation📉

In mid-February, REN reached its tentative all time excessive of 1 and a half {dollars}, a 10x transfer. This was seemingly pushed by the announcement that Ren had formally added assist for the Binance Good Chain.

As a result of REN’s solely use case is as a bond for Darknodes, its worth is extremely correlated to the TVL inside the RenVM, which has been more and more steadily over time.

🤑REN Worth Potential🤑

How excessive REN may go appears to rely upon the TVL locked inside the RenVM. Though this has been more and more steadily as Ren provides assist for brand new chains, these new chains aren’t including TVL.

Furthermore, renBTC is the first asset being minted by the RenVM – individuals don’t appear to be wrapping some other supported cryptos. Nonetheless, hypothesis and a low market cap may drive REN increased.

📅Ren Roadmap📅

In short, the endgame of Ren is to turn out to be the interoperability hub for all the cryptocurrency area. To attain this, they’re planning on doing two issues.

First, they’ll make it doable to immediately mint wrapped belongings because of an elaborate p2p mortgage mechanism which has but to be carried out.
Second, they’ll make it doable to swap wrapped belongings immediately between chains as a substitute of getting to undergo the primary chain as a center man (e.g. unwrap again to Bitcoin, then wrap onto one other chain).

👀Centralization Issues👀

Though RenVM has practically 1800 Darknodes, they don’t even have very a lot energy over the community.

Virtually all the pieces concerning the RenVM is managed by the Greycore, a set of 13 Darknodes run by the Ren crew.

Fortunately, the Ren crew has been planning to decentralize the RenVM for a while now, and detailed this course of in a Medium submit final summer season.
No date has been set for this but nevertheless, and one thing tells me that it is going to be pushed again with every further chain that’s added to the RenVM.


📜 Disclaimer 📜

The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any specific final result.

#Ren #defi #crypto #ethereum #renvm #blockchain #renbtc

Source: Coin Bureau

45 Responses

  1. If you've missed out on the ETH, BTC or Doge train to make money. Please check out the newly released token- Baby Moon Wolf which is a Binance Smart Chain token.
    It is only about a month old project. Has a great team promoting it as a community token. Current holders: 24k. It's listed on CoinMarketCap and Coingecko websites. This crypto DeFi token is not a scam as i've checked it for rugpull potential with DexTools and Poocoin. I have my own money invested in it. Since it has a good team and community behind it, it can potentially be the next Dogecoin. Im pretty confident Baby Moon Wolf will go 100x in a month with this much advertising and future merch stores being planned.

  2. REN is a project that wants to enable swapping of cryptocurrencies between different blockchains. Polkadot is a project that wants different blockchains to communicate with each other. Isn't it easy for Polkadot to enable swapping of cryptocurrencies between different blockchains? Does anybody know RENs competitors. By now I know Thorchain.

  3. Truly an informative channel and Guy ROCKS. As I am researching and learning, I come across your points therefore, I trust your input as it has been researched. Great Job!!!

  4. Automate is truly the safest platform you can invest your funds.I must commend the platform, they are always consistent with withdrawals and their payments are automated always making me happy💯

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