In 12 days, tBTC signers have had 931 ETH liquidated. That's 5% of their total bonded ETH, all due to signer timeouts, which liquidates you if even one signer in your group goes offline. They thought this would be "rare".

This is precisely the innovation behind @renprotocol. https://twitter.com/mhluongo/status/1311723193342754817

Ren's RZL algorithm is the only byzantine fault-tolerant sMPC engine that can withstand 1/3 of malicious or offline nodes, making it practical for use in large-scale globally distributed networks.

tBTC liquidates every signer if a single one is fraudulent, malicious, or offline.

"Where participants are distributed all around the world, can be anyone, are constantly changing, and latency is large and highly variant, robustness against offline participants is critical to the practical usability of any protocol." - https://github.com/renproject/rzl-mpc-specification/blob/master/z0_spec.pdf

#RenVM has innovated on and is decentralizing in phases the very technology that has caused honest participants to lose many hundreds of ETH in other systems in just 12 days.

And it is being mocked by project leads of those other systems for exactly that reason.

Soon enough, #RenVM will be a decentralized, globally distributed, robustly secure, byzantine fault-tolerant network of thousands of nodes...

...bridging billions in assets to dozens of chains.