RenVM Defi Interoperability Protocol | Top Cryptocurrency In 2021?
RenVM is an interesting protocol that fills a unique use-case
Has a CTO Loong Wang that seems super dedicated to the cause of building a rigorous engineering culture and growing the functionality of the product.
Has a specific use case for allowing people who are holding bitcoin to access some of the liquidity so they can participate in some of the yield generating opportunities the Ethereum DeFi ecosystem has to offer without having to sell any bitcoin or utilize a centralized exchange or service like BTC cafe to get WBTC or wrapped bitcoins.
Another benefit of this service and the Ren Bridge is that it can be integrated in a number of different applications so that it can function as a foundational layer of other types of exchanges and applications.
RenVM virtual machine can be used to provide this service for any number of tokens. It is already being used to bring many other tokens besides just bitcoin.
Dark Nodes are an interesting part of the project as they provide for the dark pool that allows for anonymous trading of coins across the network while maintaining total privacy.
Only 10,000 nodes on that network that handle all of the transactions and split the majority (or all) of the fees generated by the network.
This is a pretty interesting setup as the network fees are split up between these dark node operators every 28 days with the last 28 day period netting each node operator just under $1000 USD I believe for January 2021.
Now the interesting thing about this is that the stats for the dark nodes are available online and can be viewed at darknodes.online.
Ren Dark Nodes Online - (https://darknodes.online/)
Ren Project Medium - ( / renproject )
Ren Project Page - (https://renproject.io/)
Ren Command Center UI - (https://mainnet.renproject.io/darknodes)
RenVM CTO Loong Wang - ( • RenVM & Chainlink Live Q&A: Blockchain Int... )
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