Ren (REN)

Ren is currently trading at $0.0705, after a price change of 1.96% in the last 24 hours.

Ranked as cryptocurrency #274 by capitalization today, REN market cap is valued at $70,474,824. REN trading volume reached $13,236,527 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on REN coin price prediction page.

What is Ren?

Ren is an open-source network aimed at interoperability in a multi-chain environment. The platform is built for applications that preserve user privacy with zkSNARK and a multiparty computation system. Ren is developed on RenVM to secure transactions with zero knowledge in various programs. RenVM can synthesize new data unknown to the program itself. All the input, output data is kept confidential in a blockchain network to all the parties in the ecosystem.

Ren’s zero-knowledge transaction layer facilitates the handling of tokens keeping transacted amounts a secret. The platform also features an interoperability network layer that facilitates cross-chain swapping of tokens. The network’s dark pool layer is built for secret order matching, where the orders are only known by their originators.

REN is the native token powering Ren. The token is ERC20 standardized and is charged varying amounts of gas fees. There is a 997,764,051.02 circulating token supply from a total supply of 999,999,633 and a hard cap of 1 billion. REN acts as a bond for those operating Darknodes that power RenVM. The charges on the protocol are used to compensate miners.

Taiyang Zhang unveiled the Ren protocol in 2017.