RenVM Brings top Cryptocurrencies to Ethereum and its Ecosystem
Every cryptocurrency has its own set of functions and features. It is not uncommon to see those traits show up in different ecosystems over time.
It now appears that ethereum may borrow some liquidity from three different ecosystems.
RenVM Offers Extra Liquidity
More specifically, the RenVM launch has tremendous potential in this regard.
It can export features from bitcoin, zcash, and bitcoin cash to ethereum.
This is achieved by providing interoperability between these ecosystems without creating a centralized solution.
RenVM positions itself as a decentralized custodian capable of holding assets to be moved between different blockchains.
However, none of the original funds is stored in a centralized environment.
Instead, RenVM utilizes Darknodes to exchange value.
All private keys used within this ecosystem are private, and kept hidden from even the Darknodes themselves.
All assets “converted’ through RenVM are minted on the ethereum blockchain in the form of an ERC20 token.
As the value is pegged directly to the supply, there should never be any price fluctuations to take into account.
For now, this ecosystem supports bitcoin, bitcoin cash, and zcash.
As such, it exchanges value between these ecosystems, allowing users to freely swap between these different environments.
All of the tokens can be converted back to their original form with relative ease as well.
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JP Buntinx, Khareem Sudlow