The goal of RNDR is to link visual designers who require GPU capacity to complete render projects with users who have idle resources (Node Operators). The user who needs a render task pays in RNDR for the service, and the network handles the transaction and distributes the job among the nodes. A tiny portion of the payment is levied as a service fee (0.5 to 5% of the total required to process the job, based on availability and demand), which helps to keep the peer-to-peer network running smoothly. To join, users must first create Ethereum Blockchain accounts and unique wallets, after which they may interact with the RNDR coin and network.
About Render Token
RenderToken (RNDR) is an allotted GPU rendering community constructed on top of the Ethereum blockchain, aiming to attach artists and studios in requirement of GPU compute energy with mining companions inclined to lease their GPU competencies out.
To ensure that all artwork has been properly rendered prior to price disbursal and artwork release, RNDR employs a combination of manual and automated proof of work machines, or in this case, evidence of render. Proprietary property is hashed upon addition and transmitted to nodes piecemeal for rendering utilizing the Ethereum blockchain's inherent security features. All RNDR fees are stored in escrow during rendering and given to node operators after human verification of successful work by the commissioning artist.
What is Render Token [RNDR]?
RNDR is an ERC-20 token used to pay for animation, movement graphics, and visible effects rendering at the disbursed RNDR community, which is a peer-to-peer GPU compute network that connects creators in need of extra computation strength to providers who acquire RNDR tokens in exchange for their GPU energy. It allows complicated GPU-based totally render jobs to be distributed and processed across a peer-to-peer community, simplifying the transactional manner of rendering and streaming 3-d environments, fashions, and gadgets for stop customers.
RNDR aims to link media makers in need of computer power to complete render projects with those who have idle hardware and want to make money from it. The RNDR tokens are used to pay those customers' use fees. It also gives new users who are unfamiliar with Cryptocurrency a simple way to get started on the network while learning how to be secure by utilizing RNDR credits. RNDR credit, unlike RNDR Tokens, may be purchased directly through the RNDR Portal using PayPal or Stripe. When a customer buys RNDR credits, the credits are backed by RNDR Tokens that the RNDR organization bought in a deal which means whilst a writer pays for a job the usage of RNDR credits, node operators are paid out in RNDR Tokens for their paintings.
Who Are the Founders of Render Token [RNDR]?
The RNDR network concept was initially created in 2009 by Jules Urbach, the CEO of its parent business, the la Tech firm OTOY inc., a company that specializes in GPU-based software solutions. The RNDR network's core premise evolved into utilizing blockchain generation to increase the usage of GPUs across the globe for purposes other than proof-of-work for other blockchains.
The Initial Coin Offering (ICO) ran from October 6 to October 12, 2017. A total of 4650922 RNDR tokens were sold for $0.25 USD each throughout the transaction. The team stated in March 2018 that the ecosystem's total generated tokens will be 536,870,912 RNDR. In March 2018, the contract migration procedure began with a 1:1 migration ratio between old and new contracts. On June 24, 2019, the Genesis Mainnet was launched, marking the project's transition from the Ropsten Testnet to the Ethereum Mainnet and beyond. The team then announced a buy plan for 4.5 million RNDR tokens on the Probit exchange in March 2020, taking advantage of market conditions at the time.
What Makes Render Token Unique?
The Render Token makes use of keepers, which are off-chain repositories for sensitive data that allow smart contracts to interact with private data without sacrificing transparency or traceability.
Because it utilizes RNDR to save data, tBTC, the first application created on the Render Token, is censorship-resistant. Each TBTC token is completely backed and matched by a reserve of at least 1 BTC. Keep's random beacon is used by tBTC to choose "signers" who are bound in ETH and responsible for the deposited BTC. This implies you can turn TBTC to BTC whenever you want, with no need to signup for an intermediary.
Where Can You Buy Render Token [RNDR]?
RNDR is presently accessible for trading on an increasing number of exchanges, including cryptocurrency and stablecoin pairs. These exchanges are Huobi Global, HitBTC, KuCoin, ZT, and Hoo.
Frequently Asked Questions
How RNDR can be used?
Through staking, RNDR can be leveraged to safeguard the Render Token and tBTC. On the network, execute the random beacon and ECDSA nodes. To execute tBTC as if it were a complete node. By integrating ETH, RNDR stakers can perform an even bigger role as tBTC signers.
How many RNDR coins are there in circulation?
There are 577,034,460 RNDR coins in circulation, with a total supply of 1,000,000,000 RNDR coins.
On what factors does the price of the Render Token [RNDR] Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact RNDR’s price and market cap.
Render Token looks to have a strong market position. Over the last five years, there has been an increase in demand for GPU rendering services. Render Token, in particular, can save the business a lot of money on hardware. At the same time, it allows regular users to receive incentives in the form of passive income. As a result, you can anticipate this project to grow in the next months.
Render Token Official website – https://rendertoken.com/
Render Token Medium – https://medium.com/render-token
Render Token Reddit – https://twitter.com/rendertoken