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23 November 2020

RenBTC Quietly Goes Live in Latest Bid to Bring Bitcoin Into Ethereum - CoinDesk

RenBTC Quietly Goes Live in Latest Bid to Bring Bitcoin Into Ethereum - CoinDesk


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RenBTC Quietly Goes Live in Latest Bid to Bring Bitcoin Into Ethereum.

Three sources with knowledge of the project have confirmed this is the Ren smart contract, live ahead of its launch announcement.

This means that if you have 1 renBTC (an ERC-20), you can always redeem it for 1 BTC.

It is a one to one representation of Bitcoin on Ethereum that can be redeemed for BTC at any time, in any amount.".

The RenVM is a way to hold a cryptocurrency in a multi-signature wallet controlled by nodes in the RenVM and mint a representation of that asset as an ERC-20 token for use on Ethereum

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