What’s Republic Protocol?
The Republic Protocol represents a decentralized open-source Dark pool Protocol which focuse on atomic swaps between different blockchains (Bitcoin, Ethereum, ERC20 tokens, Litecoin and more in the future) and scaling solutions such as the Lightning network and also the Raiden Network.
I consider it as the closest example to give, in order to paint you the image of a decentralized exchange with numerous features. Observing the last-mentioned, we distinguish close to instant transactions and fully anonymous order books, which don’t need any trust or knowledge who’s trading on the other side.
REN Masternodes statement
Impatient to share with you that the Republic Protocol announced their MainNet will be out of order during the last week of September. There’s a catch in here – what we’re talking about is a huge update, implementing Dark nodes in their network.
The first four or five weeks, the team is about to set up 24 dark nodes (their version of Masternodes), which are going to take care of all the functionalities, provided by the protocol. It has been in beta edition for few months, so the team can make sure everything is working properly without any serious hiccups.
It’s all most here, scroll down and keep reading to know everything you need to consider, if you want to join this achromatic journey.
Minimum requirements
Time dedication, daily verifications and 100,000 REN tokens. That’s right – tokens.
It might be a bit confusing at the moment, but REN is going to stay a token for the foreseeable future. Once everything is stable enough for the users to join, the Republic Protocol’s team will release an announcement. Monitor regularly their Twitter page to be between the first to read the statement online.
Furthermore, I would like to give you some tips on how to proceed when you become a Dark node. You should regularly add some Ether, which is going to be used to pay transactions, using gas. It’s because once you turn into a Dark node, you are in charge of all the transactions within the Dark pool.
What’s a Dark pool?
Dark pools aren’t new actually. They have been widely used all over the traditional stock markets for the last years. Basically, it represents a private forum, where participants can trade all type of financial instruments. All the trades performed in the Dark pool stay confidential and invisible for the public investment process. If you think for a while, cryptocurrencies are the perfect scenario, matching these transactions.
Ultimately, if you find the project interesting, don’t hesitate to visit their official Website and Telegram channel to learn some more about it and what they’re planning in future.