RenVM Integration Enables Fantom to Provide Superfast Bitcoin Transactions with Lowest Possible Fees

RenVM’s latest upgrade includes support for Fantom’s blockchain, bringing popular crypto-assets BTC, BCH, DGB, DOGE, FIL, Zcash and LUNA to Fantom’s ultra-fast, low fee DeFi ecosystem.

Fantom users enjoy significantly reduced transaction wait times and greatly decreased transaction fees. But unfortunately, users holding native assets on the other major blockchains don’t have that ability, until now. As Fantom’s RenVM integration comes into play, users from other networks can deposit their assets directly to Fantom using RenBridge and enjoy the low-fee, faster transactions ecosystem of Fantom. Users will also be able to directly deposit and withdraw their crypto assets to Fantom’s blockchain without having to go through multiple exchanges. With the integration of RenBridge, DeFi enthusiasts can now add and exchange almost all their assets across multiple blockchains to Fantom and make whatever trades necessary without having to rely on a centralized exchange.

The integration will support BTC, ZEC, BCH, and DOGE right off the bat. Others will go live shortly as the integration develops and expands. This will give users even more ways to use Fantom to build their crypto portfolio and make it work for them. Most importantly, they’ll see their portfolio become quicker, more agile, and more adaptive to changing situations and market conditions.

This also signals a new stage of development for Fantom as a whole. As new partnerships and integrations blossom, Fantom will become ever more prominent in the world of cryptocurrency. As Fantom cultivates more collaborations and gains compatibility with more types of assets, its utility, agility, and overall value will only increase for portfolio holders.

Native REN assets that will be available on Fantom’s blockchain from now

Steps for Users

To take advantage of this new integration, users must add the Fantom Network to their MetaMask using this quick tutorial. Users will then be able to bridge their different currencies and get started making moves.

With this integration still in the early stages, new developments are forthcoming. Expect to see Curve Finance, BadgerDAO, and Varen be included soon.

Looking Forward

As Fantom continues to expand its toolbox, it’s all about giving crypto holders the ability to make the best choices possible for their portfolio. This is a brand-new development on the horizon, and it’s only the beginning. Stay tuned for new assets as they become compatible with the new integration.

About RenVM

RenVM is an open protocol providing access to inter-blockchain liquidity for all decentralized applications. A secure network allows users to exchange, lend, and move their crypto however suits their needs.

To learn more, visit the Ren Project website or check out their RenVM-specific overview.

About FantomThe Fantom Foundation is committed to building open-source, decentralized Dag-based distributed ledgers. Every day, they create fast, secure, and scalable tools relevant across a wide range of industries that allow businesses, organizations, and individuals to develop secure, decentralized applications to solve real-world problems.

Credit: Source link