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Ren (REN) is the 707th largest cryptocurrency in the world by market cap, valued at $119,416,108. The current price of Ren is $0.101335, which is 2.027% higher than yesterday. Prices have ranged between $0.10227 and $0.098434 over the past 24 hours. All prices are listed in US dollars and accurate as of February 07, 2023 08:02 UTC.
The Ren project is an open protocol for blockchain interoperability. It aims to facilitate cross-chain decentralized finance applications.
For example, you can use REN to migrate Bitcoin to the Ethereum blockchain for use in DeFi apps.
The Ren network is built around the Ren virtual machine, RenVM. The RenVM is a network of computers called Darknodes, which contribute network bandwidth, computational power and storage capacity to the network as a whole. This network is what brings private, permissionless cross-chain functionality to DeFi applications.
Like other self-sufficient blockchains, the RenVM network is intended to be trustless, decentralized and immutable. It accomplishes this through the use of a modified version of the Tendermint consensus algorithm. Additionally, it has a strong focus on privacy, which is achieved through a unique secure multiparty computation algorithm, which Ren designed specifically for use on its network.
The REN token is the native token of the Ren project.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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