Review of Ren: Hidden Defi Gem
Republic Protocol Review: https://www.coinbureau.com/review/republic-protocol-ren/
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⏰ Time Stamps ⏰
1:50 Dark Pool Overview
3:14 Ren Virtual Machine
5:33 Ren Token Overview
7:46 Token sale & Price Performance
8:57 Team & Advisors
9:47 Development & Roadmap
11:22 Ren Trading & Wallets
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://renproject.io/
► Original Whitepaper: https://renproject.io/whitepaper_1.0.0.pdf
► GitHub: https://github.com/renproject
► Research Report: https://research.binance.com/projects/republic-protocol
► What is a Dex?: https://medium.com/@sytaylor/what-is-a-decentralised-exchange-e2b86e844fe9
► Guide to Dark Pools: https://guides.pm-research.com/content/iijtrading/2010/1/101
► ChaosNet User Guide: https://docs.renproject.io/chaosnet/chaosdex
📱️ Socials 📱
📝 Project Overview 📝
Ren wants to create a decentralised exchange protocol that is not only private but also interoperable.
With their Ren Virtual Machine, they want to give users the ability to build private and trustless decentralised applications.
⚙️ Technology ⚙️
The Ren Virtual Machine or RenVM is the engine the engine that powers the Ren Network. It’s basically a network along with an accompanying SDK that allows developers to build in multichain functionality to their dAppps.
In order to facilitate the private matching of orders on the RenVM, Shamir Secret Sharing schemes are used. With this, orders are broken up into multiple shares and are distributed through the network in a secure way.
In order to run the secret scripts the RenVM use Ren’s Secure Multiparty Computations. RenVM is Byzantine Fault Tolerant. This means that even if some of the nodes go down the network will still function effectively.
For Consensus ren uses hyperdrive. This is a modified version of the Tendermint consensus mechanism that was developed specifically for the RenVM.
💰️ Token 💰
The REN token is used as a bond for the Darknode operators. This is done in order to align economic incentives and to dissuade any sort of dishonest behaviour by these node operators.
You will need to place 100,000 REN into a bond in order to run these Darknodes. The benefits of running a Darknode is that you will be paid transactions fees for recompiling order pieces and matching them with opposing orders.
Ren sold their ERC20 based tokens in a crowdsale that took place in January and February of 2018. This was a combined private sale and public sale spaced a few weeks apart.
👨💻️ Team, Partners & Development 👨💻
Ren is led by Taiyang Zhang as the CEO. He has previously worked as a software engineer and as a manager at a Quantitative investment fund.
The CTO is Loong Wang who has also worked as a software developer. His specialty is in distributed and high-performance computing.
The Ren team has been quite busy over the past year and a half. You only need take a look at their GitHub activity to get a sense of how much work is been done.
📈 Trading & Wallets 📈
Ren does about $3m of trading volume in a day. This is about average for a token that is ranked just outside of the top 100.
There is limited exchange support with the bulk of the orders being done on Binance. This limits liquidity and price discovery.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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