An open protocol enabling permissionless and private transfer of value between any blockchain
Ren is a system that can transfer cryptocurrencies between blockchains, a process known as an Atomic Swap. Developers can, for example, use Ren to bring Bitcoin, Bitcoin Cash, and Zcash to the Ethereum blockchain. Ren privately holds the assets as they move. The state, inputs, and outputs of all programs that Ren runs are kept hidden from everyone, including the nodes that power the system, which are called darknodes. Ren is very early in its development: There is only one group of nodes responsible for consensus and execution and it is run by the Ren team. Ren’s token is REN.
Ren is a network that is useful to developers working on pieces of a larger decentralized finance system. It can, for example, bring extra liquidity to projects built on the Ethereum blockchain by allowing users to stake Bitcoin or other coins that don’t normally live there. Ren claims to be able to shift digital assets between blockchains 100 times faster than an atomic swap, while maintaining security during the phases when assets are off-chain. People who run Ren’s nodes, called darknodes, can earn fees for participating.