Review on Ren by Yenkelys Barcenas
REN. A FREE TRADE CURRENCY.
The cryptocurrency Republic Protocol REN is another of the decentralized open source projects, with multiple use cases, intended to allow the private and permissionless transfer of value between any blockchain that allows its users access to liquidity between blockchains for all decentralized applications (dApps) ”, this implies the possibility of exchanging tokens through the different blockchain platforms that use smart contracts. Its creators merged Blockchain technology with Wall Street infrastructure, the world's first decentralized dark pool exchange for cross-chain exchange, this feature allows financial assets to be traded and combined using an engine that runs on an order book hidden, which implies that no party can know the operations before their execution, guaranteeing the security and anonymity of the operations.
According to its web portal, its native token, the REN has two functions: to pay the commercial fees of the orders that are placed on the platform and to pay registration bonuses for smart contracts that Darknodes manages in the Ren ecosystem. Since its launch on the market, its price has been rising and has achieved a good capitalization, and is in the range of 67 in the global cryptocurrency rating with an average daily trading volume of $ 51.6M; gaining popularity among users, because its developers offer the exchange between assets in a direct one-to-one ratio, through its darknodes function, avoiding risks between associated chains.
As a free trade currency, it can be obtained from any country in the world through any Exchange with Fiat money or with other cryptocurrencies such as Bitcoin. Transactions are carried out on the Ethereum platform using ERC-20 token equivalents of the asset that is being carried out, this suggests that it could be an exchange platform like any other, however it is designed to overcome entry and investment barriers for DeFi projects.
Pros
- Its token is an easy to buy free trade currency.
- The price of its token has been rising and the platform has a good market capitalization.
- Allows exchange on multiple blockchain platforms.
- It allows DeFi projects to incorporate foreign cryptocurrency assets like Bitcoin into their offerings.
Cons
- REN (REN) is a cryptocurrency that cannot be mined.
- REN also attracts different gas rates for energy transactions.
