What is RENEC?
RENEC is a decentralized blockchain platform designed to enable creators to build experiences that provide to the billion users in the Web3 era. Founded in 2021, it is an open-source project run by the RENEC foundation. RENEC is a limitless platform to build capacious and dynamic assets from finance to gaming. RENEC’s third-generation blockchain architecture is designed to facilitate smart contracts and decentralized application (DApp) creation.
The RENEC genesis occurred on October 14, 2022. RENEC aims to scale throughput beyond what is typically achieved by popular blockchains while keeping costs low. RENEC implements an innovative hybrid consensus model that combines a unique proof-of-history (PoH) algorithm with the lightning-fast synchronization engine, a version of proof-of-stake (PoS).