Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
The simplest way to describe Ren is that it’s a decentralized interoperability protocol. What it means for decentralized finance (DeFi) is that permission-less value transfers between blockchains can now take place. This is huge where the subject of liquidity is concerned because Bitcoin hodlers can move their BTC over to the Ethereum blockchain to participate in things like DeFi.
Ren is a unique project that seeks to create a decentralized exchange (DEX). Sure, there are plenty of DEXs out there (and we’ve covered many in previous articles), but what makes Ren unique is that it is both private and interoperable.
With Ren, users can exchange crypto assets on different chains without the need for an intermediary. So, by cutting out the middleman, users can save money in reduced fees without having to trust a central authority to take custody of their assets throughout the process.
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