Republic Protocol

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What is Republic Protocol ?

Ren or Republic Protocol is a decentralized dark pool used by investors to trade in sizable digital asset volumes. Its protocol is designed in a way that allows people to interoperate. In other words, people can transfer cryptocurrency across every blockchain.

You can now use these new ERC-20 coins in DeFi products for portfolio management, trading, lending, and borrowing. Additionally, it lets investors lock crypto into Ren software and mine tokens as RenBCH, RenBTC, RenZEC in an equal ratio on Ethereum. 

Primary features of Republic Protocol

• Ren cryptocurrency employs Shamir secret sharing technology to keep private keys inside the RenVM network concealed, even from the Dark Nodes. 
• It contains an algorithm that enables the developer’s code to run without informing about inputs or outputs. This function is known as sMPC.
• It runs large trades with negligent market impact and price fluctuation.
• The RenVM employs a consensus mechanism designed to complete transactions at a fast speed. 

Is Republic Protocol a promising cryptocurrency?

At the beginning of this year, the Ren price was equal to $0.335. Further, according to Ren’s forecast, it is expected to keep on rising for an extended period. The price prognosis states in 2025, it will stand at $5. 

How to use Republic Protocol ?

• The primary purpose of the Ren coin is to act as a way for operating a dark node.
• People purchase Ren as an unpredictable investment. 
• You can use it to move cryptocurrency into Defi applications like Curve Finance, MyEtherWallet, and KeeperDAO. As a result, they can earn on crypto that would have been lying idle otherwise. 
• Defi helps integrate RenVM to profit from speedy transfers, liquidity, cross-chain OTC trading, etc. 

Pros & Cons of Republic Protocol

Pros

• Interoperable:

  Ren gives its investor the advantage of interoperability between new and existing smart contracts and runs it on any blockchain.

• Easy Operation:

  The interoperability feature does not require any previous knowledge.

• Don’t Require History:

  Here, users don’t require notable transactions or special wallets.

• Complete Privacy:

  Secret scenarios enable secure transactions for large amounts.

Cons

• Not Strong Market:

  The Internet market is not so strong.

• Needs Multiple Miners:

  To facilitate significant volume transactions, it requires multiple miners.

Trade Republic Protocol on CoinSwitch

• You can carry Ren exchange on CoinSwitch with zero fees.
• Here you will get the best rate for ren coin, which you can buy using a credit card with just a click of buttons.
• It is based on a simple design so you can buy, sell and trade Ren currency effortlessly.

Republic Protocol ICO summary

Republic Protocol carried an ICO in Feb 2019 for $35MM and sold about 60.2% of its fixed supply. The average Ren coin price was about 0.05 USD, both in presale and public sales. 

At the same time, the remaining 39.8% of Ren was set aside for advisors, team, and community, with a part of Ren vested in between six months and two years. 

FAQ's on Republic Protocol

• Which is the best platform to buy Republic Protocol (Ren)?

CoinSwitch is the best platform to buy Republic Protocol as it offers the best price for its users.

• Understanding of Republic Protocol (Ren) working?

Ren is an open-source protocol that works on a decentralized node without revealing information. It is carried out by dividing the order into multiple codes then assigning it across the network.

• How to buy a Republic Protocol (Ren) coin?

Firstly, you have to create an account in any exchange platform you like, then buy ren coin using UPI, RTGS, NEFT, etc. The exchanges are most probably to support bank transfer and card facilities. Now, make payment. 

• What is the market cap of Republic Protocol (Ren)?

The market cap of Republic Protocol stands at 14,650,565 USD.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.