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renBTC
RENBTC

About renBTC

RenBTC is an ERC-20 token within the Ren project, enabling cross-chain exchange without needing permission. It uses RenVM, an sMPC network, to represent tokens like Bitcoin on Ethereum, with renBTC being a 1:1 representation of BTC. Ren, founded in 2017 by Taiyang Zhang and Loong Wang (formerly Republic Protocol), aims to bridge Bitcoin and other tokens to Ethereum, supporting DeFi interoperability. RenBTC can be minted by sending BTC to a RenVM address, which locks the BTC in a smart contract and mints renBTC. Reverting to BTC involves sending renBTC back to RenVM, where it's burned, and the BTC is released. This process doesn't require KYC. The 1:1 supply ensures renBTC's price is pegged to Bitcoin, redeemable at BTC's current price. A key benefit is enabling BTC users to engage in Ether...

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