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Cryptocurrency Guide | Guides

What Is Render (RNDR)? All You Need To Know

Author

Rickie Sanchez

Tags

Tags Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice, Slider Posts

Reading time

3 mins
Last update

render network

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Key Takeaways

  • Render Network (RNDR) is a decentralized peer-to-peer marketplace that connects artists needing rendering power with people who have unused GPUs.
  • Users can rent their GPUs to complete rendering tasks and earn RNDR tokens, the network’s cryptocurrency.
  • This allows artists to access powerful rendering resources at a lower cost and faster speeds than traditional cloud-based rendering services.

What Is Render (RNDR)?

Render (RNDR) is a decentralized marketplace that tackles the challenge of rendering high-quality visuals, like 3D animations and special effects, in a more efficient and accessible way.

The project aims to establish a peer-to-peer network that utilizes idle GPU resources to render jobs. This approach benefits creators by providing access to powerful and scalable rendering capabilities at lower costs and reduced wait times compared to traditional methods.

How Does Render (RNDR) Work?

Render (RNDR) operates as a decentralized marketplace that connects two sides:

  • Content creators who need rendering power for tasks like 3D animation or video editing (Creators).
  • GPU owners that have extra processing power to spare on their graphics cards (Node Operators).

Here’s a breakdown of how it works:

  1. Marketplace – Creators submit their rendering tasks to the Render network.
  1. Matching – The network uses an algorithm to match the tasks with available GPUs from Node Operators. Factors like power, cost, and location may influence the matching.
  1. Job Execution – Once matched, the rendering job is sent to the Node Operator’s GPU for processing.
  1. Proof Of Render – To ensure the work is completed accurately, a verification system (similar to blockchain validation) called “Proof of Render” confirms that the task was done correctly.
  1. Payment – Creators pay Node Operators in RNDR tokens for their services. The amount paid reflects the complexity and resource usage of the rendering job.

Render (RNDR) Token And Tokenomics

Tokenomics

The RNDR token is Render Network’s native cryptocurrency. It is used for:

  • Node Operator Compensation
  • Network Fees
  • Governance

Token Details

Total Supply 536,870,912 RNDR

Circulating Supply 381,861,234 RNDR

Current Price $9.84

Market Capitalization $3,756,159,039

This information is current as of April 15th, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • Public Sale (25%)
  • Render Reserve (RR) (10%)
  • Escrow (65%)

Where Can I Buy Render (RNDR)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

Bybit This exchange is known for its derivatives and margin trading features, but you can also use the platform for spot trading.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Is Render (RNDR) A Good Investment?

Pros

  • Cost-effective rendering – RNDR leverages underutilized GPUs, reducing rendering costs for artists and studios.
  • Scalability And Efficiency – It can distribute large rendering jobs across the network.
  • Inclusion In The DePIN Wave – RNDR aligns with the Decentralized Infrastructure (DePIN) sector, which aims to leverage blockchain technology to create a more distributed and democratic infrastructure.

Cons

  • Network Reliance – Renders rely on the availability and performance of GPUs within the network. Fluctuations or technical issues can impact rendering times.
  • Competition For Resources – High-demand rendering jobs might face competition for resources within the network, potentially causing delays.
  • Newer Technology – Render Network is still under development as a relatively new technology.

Final Thoughts

Whether Render (RNDR) is a good investment depends on your risk tolerance and goals. Remember, this guide provides a starting point for your research. Always conduct your due diligence before making any investment decisions.