In a world where cool graphics grab our attention, turning creative ideas into these visuals quickly is key. That’s where GPU rendering shines—it helps make this process fast and sharp. However, not everyone has the powerful computer setup needed for it.
What is Render (RNDR)?
Here’s where Render Token (RNDR) steps in. It brings together people with extra computer power and those who need it to create awesome visuals. Through RNDR, getting your hands on strong rendering power becomes a breeze, and no hefty setup is required.
Stick around as we dive deeper into how RNDR is making a name in the rendering industry and why it’s catching the eye of many in the digital landscape.
Purpose of Render
Render Network allows people with excess GPU capabilities to connect with content creators working on projects that require the rendering of visual effects and motion graphics.
Through this, they can earn a Render token or RNDR – the platform’s utility coin. With this native token, you can then purchase animation, VFX rendering, or motion graphics featured on Render Network.
The basic purpose of this entire system is to develop a peer-to-peer network facilitating earnings through the usage of underused computational power for 3D streaming and similar graphical effects.
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The Genesis of RNDR
In 2009, OTOY, Inc. first conceived the idea of Render. However, it wasn’t until 12 years later, in October 2017, that Render launched, with Jules Urbach as CEO. The same month saw a public sale of the token, while the duration of its private sale lasted from January to May 2018.
During this particular period, RNDR was sold at the price of $0.25 equivalent. And the total number of coins that were released into the market was around 117,843,239 RNDR.
What Led to Its Creation?
The goal of resolving limitations associated with traditional rendering platforms was the driving force behind the development of RNDR.
Source: Breakpoint 2023: Render Network
The Mechanism Behind RNDR
Render Network is a decentralized platform that utilizes blockchain technology to facilitate graphics rendering. Here’s a deep know-how regarding its mechanisms:
How Does It Differ From Traditional Rendering?
When it comes to traditional rendering, it’s quite costly and thus less accessible due to the requirement of high-end equipment. Moreover, it also comes with the drawback of limited scalability and compatibility along with speed issues. Render Network, with its capabilities, resolves all these issues single-handedly.
Since you’d be renting an unused GPU from global users, the costs would be on the lower side. Similarly, you can easily scale the GPU as per your requirements via this platform. And the best part is that it is compatible across multiple artistic mediums that encompass media, AR technology, and gaming.
The Marriage of Blockchain and Rendering
Render Network brings together GPU rendering and blockchain (Ethereum and OctaneRender) to ensure transparency and foster a community-driven ecosystem. In addition, blockchain’s immutable and decentralized nature enhances the security, efficiency, and scalability of rendering services.
The evolution of RNDR’s mechanism, especially with the adoption of the burn and mint equilibrium model in 2023, has further streamlined the process. Through it, users can pay in US dollars with the equivalent value of RNDR being burnt, thus continuously reducing the RNDR token supply.
The Architecture of RNDR
The architecture of RDNR consists of several essential stages, such as:
- Job Submission: Creators upload rendering jobs with necessary data and specifications, such as 3D scenes, images, videos, and related components.
- Pricing Mechanism: There’s a dynamic pricing model that calculates the costs of a job after considering important aspects, such as complexity, deadline, and resources required to execute it.
- Job Distribution: Once the fair price is set, RNDR displays the job to different GPU providers. Some factors considered when choosing a GPU provider include GPU type, capacity, location, and provider’s reputation.
- Processing and Verification: Once the task is completed, it is verified using a robust system that evaluates the accuracy and completeness of the output.
- Payment and Rewards: After task completion and acceptance, creators use RNDR tokens to pay GPU providers.
Understanding Its Foundation
RNDR operates on an ERC-20 utility token system where artists exchange RNDR tokens for GPU compute power from providers.
A unique proof of work system, referred to as “proof of render,” is employed to validate the completion of rendering tasks before the payment and release of artwork.
The Render community actively participates in proposals to enhance the network. For instance, the recent passage of the RNP-005: Beam Compute Client proposal showcases an evolving innovation in the network based on collective decision-making.
Source: Breakpoint 2023: Render Network
Integrating RNDR in Current Systems
RNDR has shown exceptional adaptability when it comes to integrating it with current systems. Here’s how:
- During Phase I of the platform, RNDR was integrated with the existing ORC system, marking the initial steps towards building a decentralized ecosystem.
- The platform also works seamlessly with AI technology, enabling it to boost performance.
- RNDR has recently created an integration with Apple – a remarkable step that raised the value of $RNDR.
The Benefits of Using RNDR
Here we will discuss some of the benefits of using RNDR.
Cutting Down Rendering Times
Since the rendering tasks are distributed among a vast network of GPU providers, the time taken to complete rendering jobs is reduced significantly.
The Role of Distributed Networks
The distributed nature of the network minimizes bottlenecks, enhances resource allocation, and ensures that rendering tasks are completed promptly even during phases of high demand.
Making High-end Graphics Accessible
One remarkable aspect of RNDR is that it facilitates high-end graphics rendering. This has resulted in new opportunities for smaller studios and independent artists eyeing to produce top-notch graphics without heavily investing in rendering infrastructure.
The Potential of Crowd-sourced Rendering
The peer-to-peer structure of RNDR allows for crowdsourced rendering, where multiple GPU providers contribute to the rendering process. This collective effort fosters a community-driven ecosystem that has the potential to drive innovation in the digital rendering space.
Security and Reliability
Thanks to the decentralized nature of blockchain, Render is quite a safe platform.
How Blockchain Ensures Data Integrity
All transactions on the Render Network are recorded on the blockchain. This ensures that once data is recorded, it cannot be altered or deleted.
This feature enhances the security and reliability of the Render Network, making it a trustworthy platform for both content creators and GPU providers.
Guarding Against Data Breaches and Theft
RNDR utilizes Ethereum smart contracts to automate and secure transactions between parties. These contracts execute automatically when specified conditions are met, minimizing the risk of fraud and unauthorized data access.
Also, The decentralized nature of RNDR mitigates the risks associated with centralized systems, such as single points of failure or data breaches.
Potential Applications and Industries
Some potential industries where Render Network has significant upside potential are as follows:
The Gaming World
The gaming world has evolved way faster with time. Nowadays, complex games are being published with top-notch graphics and realistic environments. However, this can only be accomplished by using powerful rendering software.
Fortunately, RNDR offers the essential resources useful for creating such high-end games.
Film and Animation
Since RNDR can reduce the total time and cost involved in rendering complex film scenes, the platform can be useful in the animation industry.
Architecture and Design
RNDR allows professionals to create detailed virtual prototypes of architectural designs or products, facilitating better visualization, analysis, and presentation before physical models are built.
Source: Breakpoint 2023: Render Network
The RNDR Tokens
Here are some details about the token utilized by the Render Network:
Roles and Utilities
- RNDR tokens primarily act as a medium of exchange between creators and GPU service providers.
- Node operators are also rewarded with RNDR tokens for securing the network.
- Unlike RNDR Credits, RNDR tokens can be bought and sold on crypto exchanges.
Token Distribution
The token sale took place in two phases: a public sale followed by a private sale. The public sale price was set at 1 RNDR = $0.25 USD equivalent, with no vesting period. A total of 117,843,239 RNDR out of 536,870,912 RNDR have been allocated since the public token sale in October 2017.
Buy RNDR on Binance
It’s pretty straightforward to buy RNDR on Binance. Here’s a step-by-step guide to purchasing RNDR:
Setting Up a Binance Account
- Set up an account on Binance by clicking on the link below, which will take you to Binance’s registration page using a special Coin-Labs referral code.
- Enter your email address and create a strong password.
- You may be asked to complete a puzzle or captcha for security purposes.
- An email verification will be sent to your email address; follow the instructions to verify your account.
Verification Processes and Why They Matter
You’ll need to upload a government-issued ID and possibly a proof of address. KYC (Know Your Customer) verification is crucial for security and compliance purposes. Also, the verification process helps prevent fraud and ensures that Binance complies with legal requirements.
Funding Your Binance Account
- After verification, go to the “Funds” section and select “Deposits“.
- Choose the type of currency you want to deposit (e.g., USD, EUR, BTC) and follow the on-screen instructions.
- You can fund your account using bank transfers, credit/debit cards, or cryptocurrency transfers.
The Actual Purchase Process
- Once your account is funded, go to the “Markets” section and search for the RNDR trading pair (e.g., RNDR/BTC or RNDR/USDT).
- Click on the trading pair, then on the “Buy RNDR” button.
- Enter the amount of RNDR you wish to purchase and confirm the transaction.
Storing Your RNDR Safely
- It’s advisable to transfer your RNDR tokens to a secure wallet outside the exchange for safer storage.
- You can use a hardware wallet like Ledger or Trezor or a secure software wallet.
Source: Breakpoint 2023: Render Network
The Future of RNDR
The future of Render Token (RNDR) is quite promising, based on various factors and developments. Here’s a breakdown:
Emerging Trends
The demand for 3D rendering is expected to grow, with the market projected to reach over $7 billion by 2028. RNDR is well-positioned to tap into this growth due to its decentralized GPU computing platform, which facilitates high-performance distributed GPU rendering.
Integration with VR and AR
Render Token is engaged in making light-field rendering more affordable and faster, which is significant for AR and VR applications. The decentralized GPU rendering solution provided by RNDR has use cases in Metaverse, Gaming, AR/VR, and other domains.
Green Rendering: Sustainable Graphics
Since RNDR utilizes distributed GPU rendering, it could potentially lead to more efficient use of computing resources by tapping into unused GPU cycles, thereby contributing to sustainability efforts in digital graphics rendering.
Conclusion
Render Token (RNDR) is a decentralized platform designed to facilitate GPU-based rendering services for creators. Through ongoing enhancements, including AI and NFT integrations, and a focus on community governance, RNDR is positioning itself to capture a share of the growing demand in the 3D rendering market.
We Coin-Labs.com provides only objective information about Render.
Therefore, we are not responsible for the investment decision in Render and the resulting loss.
Render Basics
Here are some factors that investors should consider before investing in Render.
| Cryptocurrency Features | Render (RNDR) |
|---|---|
| Publisher or Developers | Jules Urbach |
| Headquarters (Registration Number) | Los Angeles, CA |
| Symbol | RNDR |
| Platform | Solana |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Render in 2024
These are indexes mesuring the investment reliability of Render conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 9 Exchanges |
| Number of Available Pairs Worldwide | 478 Pairs |
| Market Cap of the Cryptocurrency | 1,672,926,177 USD (Rank #46) |
The table above shows the result of investment suitability evaluation for Render.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Render Price
Here are the price and recent trading volume of Render. (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of Render |
|---|---|
| Render Price | 4.828 USD |
| Price Change 24h | 0.62% |
| Price Change 7d | -5.85% |
| Trading Volume 24h | 153,255,572 USD |
| Trading Volume Change 24h | -3.38% |
Cryptocurrency Metadata
You can check the development status and social media information of Render through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://rendernetwork.com/ |
| 📖 White Paper | https://know.rendernetwork.com/ |
| 🛰️ Source Code (GitHub) | |
| https://twitter.com/rendernetwork | |
| https://reddit.com/r/RenderNetwork/ | |
| 🎺 Message Board | https://rendernetwork.medium.com/ |
Where to Buy Render
Here are the top ten world crypto exchanges where traders can buy Render in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/RNDR_BTC |
| Coinbase | Listed | https://pro.coinbase.com/trade/RNDR-USD |
| Kraken | Listed | https://pro.kraken.com/app/trade/rndr-usd |
| KuCoin | Listed | https://www.kucoin.com/trade/RNDR-USDT |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/rndr-usdt |
| Huobi | Listed | https://www.htx.com/en-us/trade/rndr_usdt?type=spot |
| Bitstamp | Listed | https://www.bitstamp.net/markets/rndr/usd/ |
| Bybit | Listed | https://www.bybit.com/trade/usdt/RNDRUSDT |
| Gate.io | Listed | https://www.gate.io/trade/RNDR_ETH |
Frequently Asked Questions
What is the current price of Render?
Render price today is 4.828 USD. Furthermore, the price of Render has fluctuated by 0.62% from 24 hours ago, and by -5.85% from a week ago.
Where is Render listed?
Currently, it is listed on a total of 9 among the world top 10 exchanges.
What is the market cap of Render now?
Currently, Render has a market cap of 1,672,926,177 USD, which is ranking 46 among cryptocurrencies worldwide.
How much is the trade volume of Render?
Currently, 517,690,747 RNDR coins are circulating through 478 market pairs. As a result, in the last 24 hours, 153,255,572 USD of RNDR coins were traded in the market.
