Anyone know of devs or team members that could reliably

Question

Anyone know of devs or team members that could reliably

provide some context, or knowledgeable discussion? Seems like LayerZero suddenly came out of stealth and beat REN to the punch 😞

#cryptocurrency #english #ren

0

11.12.2021

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Seeking Knowledge

chicobermuda
This is what I posted in the Discord: CCIP and La...

🤝 Just posted this to the Ren Price Discussion, fRen! As always, thank you for your insightful posts on all things technology relevant to RenVM and the emerging ecosystem within and around it @chicobermuda !!

0

12.12.2021

Joel

chicobermuda
This is what I posted in the Discord: CCIP and La...

doesn't RenVM also need to complete settlements on the L1 chains in the case of minting and burning?

0

12.12.2021

chicobermuda

Joel
doesn't RenVM also need to complete settlements on...

In the case of minting and burning, of course. But in the context of a multichain L1, it can, but it doesn’t have to. You can have assets like BTC, ETH, SOL, tokens etc. custodied by RenVM and RenVM-native applications that make use of those assets.

0

12.12.2021

K O Автор вопроса

Seeking Knowledge
🤝 Just posted this to the Ren Price Discussion, fR...

Yes indeed, your info in that channel helped with my understanding 😊👍

0

12.12.2021

chicobermuda · Accepted Answer

This is what I posted in the Discord: CCIP and LayerZero are "cross-chain messaging routers," which are stateless communication protocols that (1) route messages between and (2) delegate application logic and state to smart contracts on a source and destination chain. RenVM — in addition to a bridge — is its own blockchain; a "multichain L1" with its own smart contract layer that hosts app logic and state. Messaging routers are useful when you're communicating between contracts that live on different chains. For example, collateralizing a loan on one chain and borrowing an asset on another. Note that settlement complexity is O(n); a transaction spanning n chains must settle on n chains. That has gas, MEV, finality, and UX implications. And AFAIK they do not support Bitcoin because they require smart contracts. In contrast, multichain L1 settlement complexity is O(1); a transaction on the L1 settles at the speed of that L1, which in RenVM's case is ~1 second or less. That means less gas and faster finality. Interestingly, you can design a messaging router with a RenVM contract — but one that supports Bitcoin — since RenVM can respond to events and take action on other chains.

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