Distributed Dark Pool RenVM transaction volume exceeds 50 million USD

The distributed dark pool RenVM exceeds US$50 million in total transaction volume after Mainnet launch with over US$12 million total locked positions value.

By · Jul 20, 2020 . 4min read

The official data of the distributed dark pool RenVM states that its total transaction volume has surpassed 50 million US dollars. This comes close on the heels of launching the RenVM Mainnet on May 27. The total locked positions value has touched US$12.6 million after this development.

RenVM has reported the current transaction volume as US$51.53 million. The massive soar in numbers is due to the success of the Mainnet. It is the first to successfully connect BCH, Bitcoin and Zcash to the Ethereum chain

Source: https://mainnet.renproject.io/

After merely a month of its launch, RemVM crossed US$10 million worth of transactions. Since then, the numbers have kept on scaling upwards. It has already experienced a record number of adoptions.

RenVM is popular because users can interact with multiple assets, chains and applications with one transaction. This is possible through its decentralized and permission-less technology. It is a part of the distributed dark pool as the exchanges are private. Information is available only after the execution of the trade.

Since the release of Mainnet, the RenVM multi-chain has started expanding its interface to include more chains under standardized support. Earlier, the multi-chain was only focused on Bitcoin and Ethereum only.

According to the Ren blog, their next target is to reach a position where they can open-source the implementation of the RZL MPC algorithm. To achieve this, they have been working towards expanding their codebase. They are further implementing new optimizations and moving to more inclusive design.

With more and more chains being supported by the distributed dark pool RenVM, it’s transaction volume is likely to rise further in the near future.

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