Kyber uses RenVM for wrapping BTC into an ERC20 token. Could incognito use RenVM as a somewhat generalized trustless custodian? If yes then a single integration with, for example, a cosmos-sdk based token would open up the whole comos ecosystem to incognito (ATOM, BAND, KAVA, etc) with very little effort after the first coin is integrated.
hey @3ncrypt3d, thanks for your idea, but your question seems confused to me.
As you can see RenVM is a solution that allows people to turn BTC into wrap BTC in form of ERC20 token. We’re also trying to build something similar named Portal that would turn any cryptocurrency into a privacy coin. You can find in more details at Shielding Cryptocurrencies: Turning Any Cryptocurrency Into a Privacy Coin)
So what is the role of RenVM in our protocol if we have something similar natively?
Thanks for the reply.
I’ve seen ad hoc efforts (Object 1.2 on the the roadmap) to build trusted bridges that fizzled out. I was hoping that RenVM could be the basis for somewhat generalized trustless bridges.