Ren (REN) Since 2018, Ren has given users ways to utilize ass | Crypto Great | Bitcoin | DeFi

Ren (REN)

Since 2018, Ren has given users ways to utilize assets across different blockchains – initially supporting BTC, BCH, and ZEC on Ethereum mainnet.

The Ren protocol relies on the Ren Virtual Machine, or RenVM, which is powered by a decentralized network of machines called “Darknodes.”

Ren understands the importance of integrating with as many quality networks as possible in the crypto community. Multi-chain support enables interoperability between the largest and most active ecosystems.

Ren supports Arbitrum, Polygon, Solana, and more. And in the past three months alone, it’s added support for Optimism, Kava, and Moonbeam… All while gearing up for the next version of Ren – Ren 2.0.

Ren 2.0 is an open protocol, enabling multi-chain app development with Ethereum Virtual Machine (EVM) support. Leveraging Ren’s robust bridging technology for a new world of opportunities.

The Ren protocol will transition to a standalone network (Ren 2.0) to support generic application logic on Ren. There will be extensive upgrades to the core protocol which will require Ren to be deployed to a new network. The existing Ren ecosystem will continue to operate as is, but will eventually migrate to Ren 2.0.

Additionally, Ren 2.0 will feature an improved multi-party computation (MPC) algorithm that is more scalable, along with revamped tokenomics to further align incentives for ecosystem participants.

The transition to Ren 2.0 will be its most extensive upgrade to date. By the end of 2022, the team expects to have a new Darknode client that will power Ren 2.0. Then, testing will begin on the new network and the community will be invited to put the network under stress and simulate attacks in real-world conditions.

We’ll update you on the details of the roadmap, and we’ll let you know if there are any actions or migrations to take.