RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain that aims to connect artists and studios who need GPU computing power with mining partners who want to rent their GPU capabilities. Detailed information about what is Render Token (RNDR), how does it work, how much it costs, where to buy it, etc. is in the continuation of the content. Information about Ontology Gas coin (ONG) you can browse here.
What is Render Token (RNDR) and how does it work?
RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain that aims to connect artists and studios who need GPU computing power with mining partners who want to rent their GPU capabilities. It was designed by OTOY, inc. in 2009. CEO Jules Urbach and RNDR, launched in 2017, held the first public token sale in October of the same year, followed by a private sale period from January 2018 to May 2018, where a total of 117,843,239 RNDRs were sold for the price of 1 RNDR. (with 0.25 USD coin equivalent)
During the private sale period, early adopters were included in the RNDR Beta Testnet, where beta node operators and artists collaborated with the RNDR team on building and testing the network until its public launch on April 27, 2020.
RNDR is an ERC-20 utility token used by network artists to exchange GPU computing power from GPU providers (node operators). RNDR uses a combination manual and automated proof-of-work system, or in this case proof-of-work, to verify that all art has been successfully processed prior to payment distribution and art release. Leveraging the inherent security features of the Ethereum blockchain, proprietary assets are hashed after uploaded and sent piecemeal to nodes for processing.
All RNDR payments are stored in escrow during processing and released to the node operators after manual verification by the commissioning artist of the successful run. All assets created on the network are watermarked until the payment is successful, to prevent malicious actors on a per-user basis.
How to buy Render Token (RNDR)? How much is the RNDR coin price?
Render Token (RNDR) can be purchased from listed cryptocurrency exchanges, but it is necessary to make sure that the exchange is “trusted”. As of October 18, 2021, the price of 1 RNDR coin is around $1.09. Coin price can change instantly.
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
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