According to Statista, there are more or less 20,000 cryptocurrencies in existence, though most projects are inactive or discontinued.
Developers are constantly scrutinizing new ways to capitalize on blockchain technology, which gives rise to many cryptocurrencies, some created for specific purposes, such as having faster transaction times, while others are simply replicas of existing cryptocurrencies with slight changes. Render is one of the most promising projects in 2024, but it still has to prove it can attract enough supporters.
Render is a blockchain-based, decentralized computing protocol that makes it possible for users to supply unused computing power to be of service to projects by rendering motion graphics and visual effects. In other words, a 2D or 3D computer model is transformed into a photorealistic image or scene. In exchange, users receive the Render token (RNDR), which is basically an ERC-20 token that works with various third-party digital wallets and smart contracts. You can buy Render to pay for animation, motion graphics, and VFX rendering.
Render Is The Idea Of Jules Urbach, The Founder Of OTOY
The Render Network was established in 2016 by Jules Urbach, the founder and CEO of OTOY, a cloud-based graphics processing company that provides rendering services for online gaming, interactive media, and high-definition content. What happens is that resource-intensive tasks are transferred to a remote cloud server, and rich media content is delivered to end users via the Internet. Jules Urbach is largely regarded as a pioneer in computer graphics, streaming, and 3D rendering, with roughly 25 years of industry experience.
Following an arduous journey, the Genesis mainnet went live in June 2019, and this release incorporated the Render token with Octane Render Cloud, OTOY’s render engine, which works across various applications. Nevertheless, public access to the Render Network became available in April 2020. In March 2021, the Render Network bridged the ERC-20 RNDR to Polygon on account of high gas fees on Ethereum. Polygon currently allows users to interact with countless dApps, guaranteeing faster and cheaper transactions.
Render Is The Native Utility Token Of The Render Network
The overall supply of the Render token is capped at 644,168,762 tokens, of which 543,634,620 are in circulation. The coin can be traded on centralized cryptocurrency exchanges, where the most active trading pair is RNDR/USDT, as Tether eliminates the typical volatility and complexity associated with digital currencies. Similar to other cryptocurrencies, there are some risks of investing in Render, such as short history risk, demand risk, forking risk, code risk, electronic trading risk, and cybersecurity risk, to name a few.
Render was released in October 2017 via a public token sale, which was succeeded by a private sale from January to May 2018. Artists and designers can exchange tokens for GPU computing power from cloud service providers, that is, they can access high-power computing resources remotely. The decentralized GPU-sharing network ensures advantages for a wide array of industries and use cases, providing affordable and accessible rendering without compromising on quality. The network uses a blend of manual and automatic Proof of Work to ensure everything has been successfully rendered prior to payment disbursal.
The Render Token Introduces A Great Many Opportunities For Digital Creators
As mentioned earlier, Render has several potential use cases, especially in the realm of 3D content creation and artificial intelligence, and computational tasks are streamlined with the help of a peer-to-peer network, which eliminates the need for third-party intermediaries. You can use the process described below, in case you’re interested:
- Create a job: Submit your 3D file using OctaneRender or a supported plugin/integration, and create the job parameters for rendering. The network will determine the scope of the work and calculate the amount of RNDR required to complete the job. Very large file sizes can reduce speeds and increase costs.
- Upload a job: The Render Network supports Cinema 4D natively and all common Digital Content Creations via ORBX and encrypts the file end-to-end. The blockchain’s inherent security properties are used to hash proprietary assets upon upload, which are then sent to the nodes for rendering. Put simply, job requirements and payments are sent to a smart contract.
- Entrust someone with the job: The Multi-Tier Pricing protocol automatically pairs node operators with suitable jobs based on their reputation scores and the creator’s specifications. Render makes available granular digital rights management via the on-chain traceability of the node-based render graph.
- Complete a job: The proof of render guarantees that the job was completed satisfactorily. The contributions of the node operators are closely connected to the unique OctaneRender identifier, used to isolate objects within a specific layer.
- Make sure deliverables have been completed: Estimates represent an approximation, so there are often disparities in rendering work. A monitoring tool will help you understand a node’s status at a glance; it’s ideal for projects that require new forms of authentication and provenance.
- Add funds to your account: RNDR payments are stored in an escrow account during rendering, which means they’re released to node operators upon the completion of the work. All digital assets are watermarked until payment is disbursed. If the amount of work exceeds the tokens you have, the render will be paused.
Concluding Thoughts
The Render Network democratizes access to much-needed resources for content rendering, mainly video cards, and puts forward a model that enhances render speeds for artists and designers, therefore reducing expenses and increasing scale. The RNDR token is essential for utility and governance: it’s used to pay for rendering jobs on the platform, for which users must have an active OctaneRender license or subscription, and makes it possible to take part in the decision-making process, such as submitting improvement proposals.
The platform interface is simple, there are many different options, and technology gets out of the way so that creators can focus on what matters the most. To buy the Render token, all you need is a smartphone or computer, a photo ID, and a means of payment. Identify a cryptocurrency exchange that offers the ability to purchase RNDR, verify your email and identity, make a deposit (credit/debit card, wire transfer, Bitcoin, etc.), and complete the transaction. It doesn’t take more than 10 minutes.
