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What is Darknode (Ren)?

Crypto Terms Glossary: What is Darknode (Ren)?

RenVM is an inter-blockchain liquidity network made up of thousands of independently operated nodes called Darknodes. Anyone can run a Darknode, but each node must run the RenVM software via a Virtual Private Server and deposit 100,000 REN tokens into the Darknode Registry Contract. This mechanism incentivizes the node operators to refrain from malicious behavior at the risk of forfeiting their deposit. Darknodes collectively act as a trustless, decentralized custodian of the digital assets that users lock up on the RenVM platform. They allow users to collect fees every time the RenVM converts a digital asset into an ERC-20 token.

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