Crown on RenVM? Proposal Update.
Two months ago we presented to the community a proposal to push for the integration of Crown on the RenVM protocol. If this integration is achieved, we will have a RenCRW token running on the Ethereum network. The strong points of Crown inclusion in the Ren protocol, as well as other aspects of the proposal can be found at the end of this post.
When we presented the proposal, we made it clear that the integration would not be immediate and a number of steps needed to be completed that Ren required as part of the inclusion process. The first stage was to complete the technical implementation of the Ren multichain API, the necessary testing and analysis, as well as adding them to Crown repositories. This stage was completed, and the implementation is available here.
The initial idea, after getting the go-ahead from the Crown community, was to present a value proposition to the Ren team, i.e.… why would Crown add value to the Ren ecosystem? And it was fundamentally justified with the use of carbon neutralization use case, and the creation of interoperable CRW-ETH applications that take advantage of Ethereum Smart Contracts layer.
In practice, along with the value proposition, it is necessary to perform a Pull Request to include our implementation in the Ren repositories, in other words, the integration to multichain. Please note that being included in multichain is not a guarantee of listing in RenVM. In the proposal for the Crown inclusion in RenVM, it was clarified that the proposal represented a listing effort, not a guarantee, and the final decision is made by the Ren team.
In the Ren development discussion forums, and in the dynamics of multichain pull requests, the Ren team has made it clear over the past few weeks that they do not plan to focus on listing new currencies to the protocol this year, but rather to focus on those that were already in the process of listing at the time the API was made public. According to them, during the next year they will give priority to the listing of new projects. Without the ability to present the carbon neutralization value proposal yet and the Ren decision to not concentrate on listing new projects, we decided to move the Pull Request to next year, when better conditions are in place to achieve the listing.
The first part of the cycle (5K CRW) was used to cover the technical implementation of the API, the testing and the necessary analysis. As mentioned above, the implementation of the multichain API is in Crown repositories, and will be used to achieve the listing next year. With respect to the second part of the cycle (5K CRW), as the Pull Request is moved to next year, these funds will not be used for the marketing effort and to present the value proposition to Ren. After feedback with the community, we proposed to use the funds from the second cycle to publish a series of articles, technical documentation and informative material about deterministic masternodes, which we will start to publish in the next few days.
It is important to clarify that we have been researching an alternative to the Ren protocol, which would allow us to bring Crown to the Ethereum, while delaying integration into Ren.
Some relevant links:
- Proposal for integration into RenVM
- Multichain and RenVM explanation
