renBTC is a synthetic asset that represents the value of bitcoin and it is created by the Ren protocol.
- What is renBTC?
renBTC is a synthetic asset that represents the value of bitcoin and it is created by the Ren protocol. renBTC allows for bitcoin transfers to be conducted quicker on the Ethereum blockchain and opens up the possibility for bitcoin to be used in the Ethereum ecosystem.
Bitcoin is held in custody by a network of decentralized nodes; it can be converted to renBTC and vice versa easily.
- Who is the Team behind renBTC?
Some of the core team members of REN include:
Taiyang Zhang – Co-founder of Ren
Loong Wang – CTO at Republic Protocol
Michael B. – Chief Operating Officer at Ren
- How was renBTC launched?
REN raised 34 Million in an early 2018 ICO where some investors where:
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