NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Gets Interoperability Boost With Ren Protocol’s RenVM Release

Priyeshu Garg
Priyeshu Garg
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ren, a decentralized finance protocol friendly to Ethereum that enables inter-blockchain liquidity, has announced the launch of the RenVM mainnet.

The company said that RenVM will bring cross-chain assets to the Ethereum ecosystem. This will begin first with the introduction of BTC, BCH, and ZEC, and later with other digital assets.

Non-Custodial Bitcoin Coming to Ethereum With RenVM

Interacting with other blockchain networks has been one of the longest-prevailing problems the Ethereum decentralized finance space has had to deal with. And while the smooth transitions between public blockchains are still a long way ahead, the goal has become a bit more attainable thanks to the launch of Ren Protocol’s core product.

The inter-blockchain liquidity provider has announced the mainnet launch of the Ren Virtual Machine (RenVM), a decentralized custody solution that allows the seamless movement of assets between blockchains.

While the Ren Protocol currently allows users to tokenize Bitcoin, Bitcoin Cash, and Zcash, Ethereum could soon see more mainstream cryptocurrencies used as collateral of Ethereum’s DeFi stack.

“Generic interoperability has been a thorn in DeFi’s side, and we’re thrilled that RenVM is now solving this problem by enabling cross-chain liquidity to crypto investors everywhere,” said Taiyang Zhang, CEO and co-founder of Ren.

The Company Has Big Plans For the Ren Protocol

According to the announcement, the company seems to be trying to get ahead of the revolution that is about. Loong Wang, the CTO and co-founder of Ren, said that Ren is setting out to provide a “catch-all utility” for the next generation financial system where blockchain interoperability is the norm.

“Our goal is for RenVM to function as a bridge between not only Bitcoin and Ethereum, but any imaginable pair of blockchain-based tokens, including stablecoins like Libra and China’s digital yuan,” he said. 

The company’s core product, RenVM, will act as a decentralized custodian of various crypto assets. For each token it holds, it mints another that is represented on the Ethereum blockchain in the form of an ERC-20 standard token. This approach, while currency applied only to the Ethereum ecosystem, can be applied to other smart contract protocols such as Polkadot and Tezos. 

In-house advancements made to the Secure Multi-Party Computation (sMPC) will allow users to move assets to and from any blockchain without the need for a centralized mechanism or a permissioned system, the company explained. 

The protocol’s native token, REN, has reacted strongly to the mainnet launch. It began a slow and steady rise in the first week of May, as holders most likely anticipated a significant price movement once the RenVM launched. The coin saw its price increase by more than 50% this month, rising from $0.068 on May 1 to $0.103 on May 27.

Graph showing REN’s price from Apr. 28 to May 27
Graph showing REN’s price from Apr. 28 to May 27. (Source: CoinMarketCap)
Tweet123Share219ShareSend
Priyeshu Garg
Priyeshu Garg

Priyeshu Garg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He built his first digital marketing startup as a teenager and worked with multiple Fortune 500 companies. He's an alumnus from mass-transit app Ola and holds a degree in computer science engineering. He likes to write bots in his free time.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana (SOL) a un Bivio — Rimbalzo Probabile se i 142$ Tengono

Solana ha avviato un nuovo calo e ha ritestato la zona di supporto a 145$. Il prezzo di SOL ora...

clararosati 4 hours ago

Solaxy登陸MEXC及多家中心化交易所 24小時內暴漲127%!

Solana 生態首個 Layer-2 公鏈專案Solaxy (SOLX)在過去 24 小時內暴漲逾 127%,漲勢由其正式登陸全球頂級交易所之一 MEXC的消息引爆。 Solaxy 於上月完成超 5...

estherw 4 hours ago
Dogecoin koers geprogrammeerd voor nieuwe all-time high - gaat DOGE naar 1 dollar dit jaar?

Dogecoin koers geprogrammeerd voor nieuwe all-time high – gaat DOGE naar 1 dollar dit jaar?

De Dogecoin koers heeft sinds zijn piek van december 2024 een daling ervaren van bijna 70%. Dat heeft een situatie...

Lars Diederiksen 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price news

Dogecoin Under $0.20 ‘Is Free,’ Says Analyst—Predicts 2,000% Upside

Jake Simmons 38 minutes ago
한국, CBDC 공식 철회… 스테이블코인 급부상 속 베스트 월렛의 경쟁력 부각

한국, CBDC 잠정 보류… 스테이블코인 급부상 속 베스트 월렛의 경쟁력 부각

Soyeon Lee 1 hour ago
Beste crypto ETF's 2025 - welke nieuwe ETF goedkeuringen komen deze zomer?

Beste crypto ETF’s 2025 – welke nieuwe ETF goedkeuringen komen deze zomer?

Lars Diederiksen 3 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセールで1.45百万ドル調達-人為的ミスを排除し次の100倍を目指す新鋭トークン

    ...

    25 minutes ago
  • 仮想通貨おすすめ|2025年に注目のポートフォリオ向け有望銘柄4選とは?

    ...

    49 minutes ago
  • 「壮大で美しい法案」成立も暗号資産税制救済なし、新しい仮想通貨が未来を切り開く

    ...

    1 hour ago
  • FUNToken

    FUNToken Now Listed on Poloniex, Strengthening Global Reach...

    1 hour ago
  • ミームコインプレセール急騰|SPX6900は11%下落も新星コインが注目集める

    ...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.