What is Render in this guide? We will answer questions such as who created it and what are its features.
As visual technology advances, consumers and businesses alike are pushing for higher resolution content and computer-generated graphics. Creators, designers and video editors are constantly creating videos, animations and graphics for various projects. As long as it’s a high-resolution image or animation, rendering is used.
Major blockbuster movies with realistic CG animations (such as the Marvel movie series) and video games with immersive graphic representations are just two of many examples.
This increasing pressure from the creative and consumer economy is one of the main reasons for the global demand for more processing power. That’s why the idea of Render (RNDR) was born as a solution for various industries hungry for more processing and GPU rendering power.
The design of the network aims to meet the increasing global demand for computing. By allowing access to scalable GPU computing power, anyone can build their creative vision without high overhead and hardware. This can include anything from simple videos to immersive AR/VR environments and much more.
What is RNDR?
RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain, aimed at connecting artists and studios that need GPU computing power with mining partners who want to rent their GPU capabilities. In 2009, OTOY, inc. Designed by.
CEO Jules Urbach and launched in 2017, RNDR held its first public token sale in October of that same year, followed by a private sale period lasting from January 2018 – May 2018, wherein a total of 117,843,239 RNDR were sold at a price of 1 RNDR = $0.25 USD equivalent of tokens.
During the private sale period, early adopters were included in the RNDR Beta Testnet, where beta node operators and artists worked collaboratively with the RNDR team to build and test the network until it became public on April 27, 2020.
Backed by parent company OTOY, the RNDR team is based out of Los Angeles, with team members throughout the world. The RNDR advisory board boasts industry leaders such as Ari Emanuel (Co-Founder and Co-CEO, WME), JJ Abrams (Chairman and CEO, Bad Robot Productions) and Brendan Eich (Founder and CEO, Brave Software and BAT), who have all advised RNDR in various capacities in bridging the gap between creating a system that appeals to both cryptocurrency communities and Hollywood studio production pipelines.
How does RNDR work?
RNDR is an ERC-20 utility token used by network artists to exchange GPU computing power from GPU providers (node operators). RNDR uses a manual and automated proof-of-work system, or in this case, proof-of-work, to verify that all techniques have been successfully created prior to payout payment and drawing release. Leveraging the inherent security features of the Ethereum blockchain, proprietary assets are hashed during upload and sent piecemeal to nodes for processing.
All RNDR payments are stored in escrow at the time of creation and released to node operators after manual verification by the artist ensuring successful work is deployed. To prevent malicious actors in both user bases, all assets created on the network are watermarked until the payment is successfully deployed, after which time non-watermarked creations can be downloaded and all payments are held in escrow until manually verified that they were created correctly.
- Market Cap: $182,166,857 (06 June, 2022)
- Circulating Supply: 253,798,860 RNDR
- Total Supply: 530,962,615 RNDR
- Max Supply: 536.870.912 RNDR
- All Time High: (Nov 21, 2021) $8.76
- All Time Low: (Jun 16, 2020) $0.03676
What is Render in this guide? We answered the questions of who created it and how it works. Keep following us.
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