Review on Ren by Gabriel Medina
Decentralized dark pool protocol
The Protocol of the Republic (REN) is a relatively new project. It is a decentralized dark trading platform protocol developed in Singapore that will allow merchants to place orders in a completely secure and private way. The protocol works by distributing the primary order in fractions across the network. Then two main Ethereum smart contracts come into play:
Once these smart contracts have fulfilled their role, an atomic swap is triggered and the swap is executed.
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The purpose of the Ren alliance is threefold:
In other words, the Ren Alliance brings a healthy supply of new users, investors and developers to the Ren project.
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Digital cryptocurrency wallets that support REN include:
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Hardware cryptocurrency wallets that REN support include:
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The Protocol of the Republic is a really eye-catching project that could change the way we think about digital asset trading. Not only have they created a decentralized exchange, but they have also developed one that keeps orders completely private. The idea is sound and much needed in cryptocurrency trading because large traders value privacy and do not want their trades revealed.
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Pros
- It has launched RenVM, an open protocol that provides access to cross-blockchain liquidity for all decentralized applications where we will be able to bring BTC, BCH and ZEC to your Ethereum application.
- With Ren, there is no need for a reliable middleman.
- Project advisors can help open doors in cooperation with other blockchain projects.
- Atomic swaps could solve the scale problem in blockchain.
Cons
- The technology behind Ren is quite sophisticated and can be difficult to understand.
- The developers on the team are all fairly inexperienced with less than a year of work experience.
- It is not sure if the project team can meet the challenges it faces.
