How does RenBTC work?

Could you please elaborate on the mechanics behind RenBTC? How does it function and what are the key components that make it work? I'm particularly interested in understanding the process of converting Bitcoin to RenBTC and vice versa, as well as the role of the Ren Network in facilitating these transactions. Additionally, I'd like to know about the security measures in place to ensure the safety and integrity of the RenBTC system.