I’ve been doing some reading about REN and I think it has alot of potential, but what happens if some stolen/scammed/dirty bitcoin, or ETH or basically any crypto ends up on REN? Would that cause problems? Would I get in trouble if I unknowingly buy stolen bitcoins? Also how would REN respond?
Not sure what you mean with “dirty bitcoin” but I assume you mean from blacklisted address or similar. renVM is a trustless, permissionless, decentralized virtual machine that acts as a bridge between chains connected to renVM.
The transactions on renVM are not anonymous either, if you send your BTC through renVM to get renBTC on Ethereum everyone can see on the ethereum transaction which bitcoin address it came from. so renVM doesnt need to “respond” to anything. It is just infrastructure that is there.
Compare to Uniswap, nobody can take down uniswap and Uniswap is not an entity that needs to defend itself about dirty coins, it just processes swaps with liquidity provided by LP’s, thats it. Same thing with renVM, it just acts as a bridge between chains, it has no control over the transactions.
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Ren is a virtual machine protocol that is used for exchange, lending of the coins. Ren is reliable for user friendly. If someone will use these stolen or dirty crypto coins that’s will create a serious problem. So these type of crypto coins should be ended up on Ren.