Coinbase listed the Render Token (RNDR) and the price of the coin rose suddenly. After Coinbase’s listing, RNDR was among the altcoins hunted by Ethereum whales. So what is the Render Token (RNDR), which has suddenly become the focus of attention of even whales? What is Render Token (RNDR) as Kriptokoin.com? We sought an answer for you, let’s examine the project together…
What is Render Token (RNDR)?
RenderToken (RNDR) is a distributed GPU rendering network built on 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, OTO, inc. Designed by. CEO Jules Urbach and RNDR, which launched in 2017, held its first public token sale in October of the same year. This was followed by a special sales period from January 2018 to May 2018. During the private sale period, early adopters, beta node operators, and artists were included in the RNDR Beta Testnet, where they worked collaboratively with the RNDR team to build and test the network until it went public on April 27, 2020.
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 automatic PoW system. Leveraging the inherent security features of the Ethereum Blockchain, proprietary assets are hashed at 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. Widespread adoption of Ethereum was key to realizing our vision. Rather than just using GPUs to mine currencies, they use blockchains’ intrinsic functions to create and leverage their features: network, incentives, and trust.
What is Render Network aiming for and can it achieve?
Render Network creates a much more efficient, powerful and widely scalable rendering network. Render Network is designed to connect users who want to render renders with people who have idle GPUs to render renders. Owners would connect their GPUs to the Render Network to receive and complete render jobs using OctaneRender. Users would send RNDR to the renderer and OTOY would receive a small percentage of RNDR to facilitate the process and run the Render Network.
These GPU owners become “Node Operators” and can earn RNDR tokens after registering their idle GPUs with the Render Network. They do this by accepting work from users with a need for render work, known as “Creators”, who send their files to the Render Network where they are assigned to Operators. Render takes a small percentage of the RNDR paid to protect the network and streamline the process.
Network scalability
Scaling GPU processing power is very difficult with traditional processing technology. There are limits to what can be done to render locally, on a network, or even in the cloud. It is impossible to efficiently exploit GPUs around the world without some kind of decentralized system that follows.
Sleeping GPU network
The most efficient processing hardware, GPUs are now a standard component in every phone and computer. However, the current system contains many inefficiencies. Most developers’ GPUs are idle when they’re not building their own work, leaving a lot of potential power waiting to be used.
Better use for GPU power
Today, large amounts of GPU power are used in PoW mining, where GPUs are used to solve arbitrary arithmetic functions to provide underlying power and security for the respective crypto networks. However, PoW mining is inherently inefficient and wastes real power on GPUs. Render envisions a better future where its network is powered by the work GPUs are designed to do: bringing creative visions to life.
Digital rights management
There is no universally accessible storage place for artists to store their work and let them know it belongs to them. Through the Blockchain and ledger-based storage protocol of the RNDR network, artists can store and access their designs and products.
Conclusion: What is Render Token (RNDR)?
What is the Render Token (RNDR) in this article? We sought an answer with you. This article has been written for informative purposes only. Therefore, no reference can be made to any of your investment decisions! Never invest in Render Token (RNDR) and other cryptocurrencies without doing your own detailed research!
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