What is Ren (REN)?

The Ren Network is a decentralized protocol of virtual devices called Ren dark nodes that provide network interoperability in order to enable cross-chain lending, exchanges, and other services between different DeFi protocols. To make this a reality, Ren makes use of a multi-party computation algorithm as a consensus protocol while using the Ren Virtual Machine (RenVM) to directly enhance liquidity on the Ethereum Network. This functionality enables the platform to lock assets on-chain and mint them individually. The Ren Network utilizes its own native token (REN), which primarily functions as a payment token to place orders within the network.