REN bonds secure Darknodes in decentralized RenVM network.
REN tokens bond Darknodes that power RenVM. These nodes earn rewards but require 100,000 REN as collateral.
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What is Ren (REN)?
The REN token serves as collateral for operating a Darknode, which supports the RenVM's multi-party computation (sMPC) network. While the Darknode network is decentralized and open, a bond of 100,000 REN tokens is necessary to register and run a Darknode. This requirement deters malicious actors from creating numerous identities and overwhelming the network with faulty Darknodes. This mechanism is comparable to Proof of Work's reliance on computational effort or Proof of Stake's utilization of staked tokens to limit block production. To register each Darknode, you'll need 100,000 REN, which will be bonded within an Ethereum smart contract and returned upon deregistration. Darknodes, and their operators, are rewarded in various cryptocurrencies (BTC, ETH, ZEC, DAI, and ERC-20) for their con...
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Ren price live information
As of now, Ren is trading at 0.012267 USD, with a 24-hour trading volume of approximately 152.26K USD. The REN to USD price is updated in real time. Over the past 24 hours, Ren has decreased by 3.71%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 12.26M USD. Currently, there are 999 330 480.361888 REN in circulation out of a maximum supply of 999 999 632.80375 REN.
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