Tokenized Representation

Tokenized representation occurs when a digital asset is locked up with a custodian, who then mints a one-to-one representation of that token on another chain. In the context of the Ren Virtual Machine (RenVM), the custodian is a decentralized “Darknode” instead of a centralized authority. Locking an asset in a Darknode until the user redeems it allows Ren users to trustlessly and securely complete the asset conversion process.