Exchange Render Token (RNDR)

Render Token (RNDR) is a cryptocurrency and utility token designed for use within the Render Network, a decentralized network that aims to provide distributed computing resources for various tasks such as rendering computer-generated imagery (CGI), machine learning, and other computational tasks. The Render Network enables users to harness the power of idle GPUs (Graphics Processing Units) across the world, creating a decentralized network for rendering and other computing tasks.

The primary use case of the Render Network is rendering CGI (Computer-Generated Imagery), which is computationally intensive and often requires significant processing power. Many computers, particularly those used for gaming or graphics-intensive tasks, have powerful GPUs that are often idle when not in use. By utilizing these idle GPUs, the Render Network can significantly increase the availability of computing resources without the need for expensive infrastructure investments. However, the network can also be used for other computational tasks such as machine learning, data analysis, and scientific simulations.

The Render network operates on the Ethereum blockchain, leveraging its capabilities and security features. Integral to the Render network is OctaneRender, a powerful rendering application developed by OTOY software company. Through this synergy of blockchain technology and advanced rendering software, the Render network facilitates the processing of 3D content creation.

Utilizing the Ethereum network, Render ensures data verification, payment processing, and secure storage. OctaneRender, alongside other streaming frameworks, plays a crucial role in processing 3D rendering tasks efficiently.

Render's peer-to-peer network enables users to harness the idle GPU power of their devices, contributing it to the network. In return, contributors are rewarded with native RNDR utility tokens. This arrangement fosters a win-win scenario: contributors receive rewards for their unused computing power, while end users can access computational resources at a lower cost without sacrificing security. The peer-to-peer network thus offers benefits for both contributors and end users alike.

The Render Network was launched by a company called OTOY, which is a leading provider of cloud-based rendering services and GPU rendering software. OTOY was founded in 2008 by Jules Urbach, a computer graphics entrepreneur and technologist.

Jules Urbach launched the Render Network to address the growing demand for distributed computing resources, particularly in industries such as film and entertainment where rendering CGI is a resource-intensive process. The idea behind the Render Network was to create a decentralized platform that could leverage idle GPUs across the world to provide cost-effective and scalable rendering solutions.

The Render Network officially launched in 2019, with the introduction of the Render Token (RNDR) as the native cryptocurrency and utility token of the network.

Supported by its parent company OTOY, the RNDR team operates from Los Angeles, with members located across the globe. Complemented by a distinguished advisory board, including luminaries like 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), RNDR benefits from their expertise in devising a platform that effectively aligns with the needs of both cryptocurrency communities and Hollywood studio production pipelines.

Smart contracts, which are self-executing contracts with the terms of the agreement directly written into code, play a crucial role in governing transactions and interactions within the Render Network. Smart contracts help automate processes, enforce agreements, and ensure that transactions are executed as intended.

Users need RNDR tokens to access the computing resources available on the Render Network. These resources can be used for rendering CGI, running machine learning algorithms, and other computational tasks.

Participants who contribute their computing resources to the Render Network are rewarded with RNDR tokens. This incentivizes individuals and organizations to contribute their idle GPUs to the network, thereby increasing its computational power.

RNDR token holders have a say in the governance of the Render Network. They can participate in decision-making processes regarding network upgrades, changes to protocols, and other important matters related to the network's operation.

RNDR tokens are used for payments and transactions within the Render Network ecosystem. Users can pay for computing resources, services, and other goods using RNDR tokens.

RNDR token has a total supply of 531,039,933 RNDR, and as of February 20, 2024, the circulating supply is 378,146,336 RNDR. 

The Average Fees on the Render Network 

The RNDR Network functions by collecting transaction fees related to job processing. As a multi-sided economy for rendering work and asset exchange, it's designed to minimize excessive intermediation. Anticipated transaction fees are nominal and expected to be proportional to transaction volume, capped between 0.5% and 5%, depending on the transaction type. These fees are earmarked to cover storage and bandwidth expenses associated with network operations.

The RNDR Token Wallets

The RNDR tokens can be stored in any crypto wallet that supports ERC-20 tokens, including Trust Wallet, Meta Mask, Ledger, TokenPocket, Coinbase, Torus, imToken, iToken Wallet, Coinhub, BRD Wallet, etc.