The RNDR Token operates on a network utilizing OctaneRender for GPU rendering, enabling decentralized creation, sharing, remixing, and monetization of 3D assets through blockchain technology.
The Render Network is driven by the ERC-20 standard token $RNDR, which serves as payment for animation, motion graphics, and visual effects rendering tasks conducted on the distributed Render Network.
Within the Render Network ecosystem, users submit their rendering tasks to the community, and the platform automatically determines the required amount of RNDR tokens for the job. This information is attached to the smart contract details and broadcast on the rendering network.
The RNDR Network employs a Multi-Tier Pricing (MTP) mechanism, enabling users to select the arithmetic capacity tier based on factors like speed, system configuration, and security. While the pricing in each tier remains stable, adjustments are made periodically based on GPU performance, GPU cloud rendering costs, and decentralized supply and demand data.
By utilizing blockchain technology to aggregate idle GPU resources globally, Render Network addresses the growing rendering needs of the physical industry, fostering collaboration between the demand side, supply side, and the platform.
In April 2023, the Render community strongly supported migrating the protocol to the Solana blockchain. Proposal RNP-002 received substantial majority support, with 5.9 million RNDR tokens in favor and 2.8 million tokens against it. The current price of the Render token is continuously updated and tracked in real-time on Binance.
Render Price Live Data
As of today, the current value of Render (RNDR) is $3.30 USD, and the total trading volume over the past 24 hours is $103,528,901 USD. Our RNDR to USD price is continuously updated in real-time. Over the last 24 hours, Render has experienced a 0.38% increase.
In the CoinMarketCap ranking, it holds the #49 position, boasting a live market capitalization of $1,228,199,833 USD. The circulating supply of RNDR coins is 371,908,453, and the maximum supply is 536,870,912 RNDR coins.
What is Render, and Why is it 50% Up This Week?
Render Token (RNDR) has experienced a remarkable surge in value over the past week, witnessing a price increase of over 50%. This surge is attributed to the growing enthusiasm surrounding artificial intelligence and crypto ventures linked to GPU computing power.
Last Tuesday, RNDR, a crypto asset designed to facilitate the connection between artists, animation studios, and mining partners for GPU rendering capabilities, was trading at approximately $2.30. As of the latest update, its value has soared to $3.47 within a span of just 7 days, representing a substantial gain.
Despite a 3.32% pullback in the last 24 hours, indicating some fluctuations, RNDR continues to exhibit strong momentum in its overall upward trend. At the time of writing, the token is actively traded at $3.34.
Introduced in 2017, RNDR objective is to decentralize the GPU power required for resource-intensive rendering tasks in visual effects, animation, and content creation. It facilitates the connection between those in need of rendering services and mining partners willing to lease out spare GPU capacity to the network.
In a recent YouTube video, crypto analyst Cilinix Crypto highlighted the close correlation between advancements in AI technology and RNDR’s mission of decentralized, distributed GPU rendering. Given the extensive GPU power demanded by machine learning algorithms, RNDR’s network is poised to benefit from the rising demand in this domain.
Benefits of Render Token (RNDR)
Participating in the RNDR network comes with numerous advantages. The protocol allows individuals with contemporary GPUs to offer their rendering capabilities in return for tokens.
Everyday users can securely and easily generate profits, while clients can cut down on expenses related to investing in hardware. In essence, Render Token (RNDR) serves as a link to address the disparity between the supply and demand of GPUs.
Scalability
Creating a scalable network was a fundamental necessity for Render. The GPU rendering business model demands a network capable of expanding in a linear manner to accommodate increasing demands.
The protocol utilizes blockchain technology as a robust and efficient alternative in the market. Users of Render Token have the ability to handle complex files that might pose challenges for local processing.
Digital Rights Management
Another core desire of the development team behind Render Token is its digital management systems. Currently, there is no globally accepted, universally accessible, storage location for content creators.
The current options in the market are all centralized. Sadly, this leaves creators at the mercy of centralized platforms that can censor or delete their data without warning.
Render Token leverages the un-alterability of blockchain technology to ensure that creator’s rights are protected. Additionally, the system can register when these works are accessed.
In this way, artists and content developers can better control the use of their works. Impressively, the network can be set up to automate royalty payments as well. These systems will provide more ROI potential for developers.
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