What is Ren (REN)? | REN Token Explained in Under 60 Seconds

RenVM is an open protocol for transferring cryptocurrencies between blockchains. The network allows developers to bring cross-chain functionality to their DeFi applications. Ren Token (REN) is the ERC20 token used to bond Darknodes to RenVM.

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Darknodes are a network of decentralized virtual machines that contribute their compute power & storage space in exchange for rewards.

RenVM allows you to transfer any token between any blockchain. Bring BTC, BCH, ZEC & more to your decentralized application (dApp). As a plug-in for decentralized finance, any DeFi application can incorporate RenVM’s capabilities into their applications & existing smart contracts.

RemVM allows for Multi-collateral lending, Cross-chain asset integration, Cross-chain OTC trading & much more.

WEBSITE: https://renproject.io/