Anytime soon, we will get to see Ren, the open protocol to launch its mainnet. Ren’s protocol offers ‘permission-less’ and ‘private’ transfers on the blockchain for all the dApps. The transfer can take place between any blockchain. Ren, last year released its testnet and a developer portal.
Ren’s mainnet is at the final-testing stage, after the successful Hyperdrive audit, and RZL sMPC audit. The platform wants to offer a stable and secure deployment of RenVM, called the ‘Mainnet SubZero,’ as per reports. On this, the CTO of Ren- Loong Wang shared-
“This year promises to be an exciting one for the Ren project, with the much-anticipated release of Mainnet SubZero. We have hit the ground running this year, and a lot has been achieved in January. In preparation for the fast-approaching Mainnet SubZero release, we have been focused on tighter testing iterations, more open-source repositories, and more documentation.”
The unique RenVM:
RenVM is the power engine of Ren. It is neither a product nor an application. It should rather be seen as a network (which accompanies SDK.) It offers ‘practical privacy’ and solutions that can be operated on various platforms. It uses a ‘multi-party computation algorithm’ and, therefore, is the sole provider of private computation, which can be used on various inputs and on various parties. Not only this but the RenVM ‘network’ also supports developers to incorporate and offer ‘multi-chain functionality’ into their own applications too.
Reports reveal that RenVM is made of four key components:
- Shamir’s Secret Sharing: It is the bedrock that supports RenVM to maintain the secrecy of its data.
- Secure Multiparty Computation (sMPC): sMPC helps RenVM in running the secret scripts successfully.
- Byzantine Fault Tolerance: As per reports, it is an ‘uptime in a dynamic and potentially malicious environment.’
- Hyperdrive: It supports the decentralized consensus
Within this month, Ren has accomplished:
Within this month, the platform has successfully completed and released RenJS. RenJS is like a basic library that supports third-party developers to understand to create the RenVM interacting app. For instance, this library helps developers in creating user-interfaces, command-line tools, bots, etc.
The GatewayJS by Ren:
In addition to RenJS, Ren has also completed ‘GatewayJS’ in this month. The platform is currently looking into the feedback from the community for the product before the final release. GatewayJS intends to offer fully integrated and native BTC experience to its users by supporting third-party developers to create secure user-interfaces. Reports suggest that it is integrated into ChaosDEX as an exposition.
The sMPC paper:
Thirdly, RZL sMPC paper is also all set for audit. The audit is planned to take place after the successful completion of Hyperdrive’s audit. After the public verification by auditors, it will offer the developers the confidence to use it in the core execution engine within RenVM.
The new version of Lotan:
This month, the platform has also started the development of the chaos testing framework for RenVM. It is seen as a new version of Lotan. This version makes use of the RenJS library to run tests such as (fuzz tests, load tests, crash tests), and it also runs the compatibility tests against RenVM. It makes the final testing stage before the release of mainnet SubZero.
The platform has also added the new Protocol smart contract. The users will be able to easy lookup and configure the on-chain contracts used by RenVM through these smart contracts. Not only the deployment of the various versions of RenVM will become more efficient, but it will also enhance the experience of the third-party developer.