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The REN token functions as a bond that enables a Darknode to operate, powering the sMPC network (RenVM).
While the decentralized Darknode network is permissionless, it requires a 100,000 REN token bond to register and run a Darknode, helping to stop the creation of excessive identities. This is designed to deter malicious actors from spinning up unlimited Darknodes and flooding the system with poorly behaving ones.
This approach is comparable to how Proof of Work limits block creation through computational effort, and how Proof of Stake uses staked tokens to limit block production.
If you register a Darknode, you must obtain 100,000 REN and lock it in an Ethereum smart contract. The bonded amount is returned once the Darknode is deregistered.
Darknodes (and the operators running them) receive rewards (in BTC, ETH, ZEC, DAI, and ERC-20) for supporting the Network.
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