Ren announced the integration of RenVM with the Solana blockchain which is now broadcast.
RenVM resembles a blockchain. Anyone can run a node and participate in mastering a virtual machine (VM).
Solana’s co-integration shows Ren is comfortable with the unique features the network brings to the Layer-1 space, including its evolving ecosystems and communities.
In fact, Solana is known for offering DeFi functionality similar to Ethereum. The only difference between these two networks is that Solana processes transactions at a much higher and faster rate than Ethereum.
Through this integration, more assets will be drawn to Solana. This means that users have the opportunity to generate tokenized versions of the asset through the integration.
It may be difficult to understand but simply put, you lock in a preferred asset, for example: Bitcoin (BTC) through some mechanism, generate a token on another network and use BTC as a token on that network.
For now, RenVM supports four assets: BTC, Bitcoin Cash (BCH), Zcash (ZEC) and Dogecoin (DOGE). All four of these once tokenized, they can be used in Solana.
Expected next assets are DigiByte (DGB), Terra (LUNA) and Filecoin (FIL).
