As of May 27th, 2020, the Ren Team has successfully deployed the RenVM code to mainnet. This accomplishment is a massive leap forward for the DeFi space as we currently know it. Never before in the cryptocurrency ecosystem have we been able to utilize a custodian with such features as: trust-less, backed securely in value 1:1, linearly scale-able, decentralized – all packed together in one.
TL;DR - RenVM is a decentralised crypto asset custodian that:
- enables universal interoperability between blockchains: anyone can use RenVM to send any asset to any application on any chain in any quantity.
- has robust security: large bonds, large shard sizes, and continuous shuffling make RenVM extremely difficult to attack, even for irrational adversaries. In the unlikely event of a successful attack, RenVM can restore lost funds.
- is scalable: as more assets are locked into the custody of RenVM, the algorithmic adjustment of fees allows RenVM to automatically scale its capacity to meet demand.
- provides an optimal user experience: users can interact with multiple assets, applications, and chains with only one transaction.
TL;DR - RenVM is a decentralised crypto asset custodian that:
- enables universal interoperability between blockchains: anyone can use RenVM to send any asset to any application on any chain in any quantity.
- has robust security: large bonds, large shard sizes, and continuous shuffling make RenVM extremely difficult to attack, even for irrational adversaries. In the unlikely event of a successful attack, RenVM can restore lost funds.
- is scalable: as more assets are locked into the custody of RenVM, the algorithmic adjustment of fees allows RenVM to automatically scale its capacity to meet demand.
- provides an optimal user experience: users can interact with multiple assets, applications, and chains with only one transaction.