What is RNDR Network?

The Render Network (RNDR) connects creators who require additional computation power for rendering their scenes to providers who receive RNDR Tokens in exchange for their GPU power. It enables complicated GPU-based render tasks to be distributed and processed across a peer-to-peer (P2P) network, simplifying the transactional workflow of rendering and streaming 3D environments, models, and objects for end users.

The network’s RNDR Token is an ERC-20-compatible utility token used to pay for animation, motion graphics, and visual effects (VFX) rendering on the distributed RNDR Network, a peer-to-peer (P2P) graphics processing unit (GPU) computer network.

A brief history of RNDR Network

The RNDR Network was first envisioned by Jules Urbach, CEO of its parent company, Los Angeles-based tech company OTOY Inc., which specialises in GPU-based software solutions. The company was created with the goal of harnessing blockchain technology in order to increase the use of GPUs throughout the globe for purposes other than proof of work (PoW) for other blockchains.

The initial coin offering (ICO) took place from 6 October to 12 October 2017. During that period, a total of 4,650,922 RNDR Tokens were sold at a price of US$0.25 per token. The team stated in March 2018 that the total issued tokens in the ecosystem would be 536,870,912, and the contract migration procedure began with a 1:1 migration ratio between old and new contracts.

The Genesis mainnet release took place on 24 June 2019, when the project was moved from the Ropsten testnet to the Ethereum mainnet and beyond. The team then announced a purchase plan of 4.5 million RNDR Tokens on the Probit exchange in March 2020, taking advantage of market conditions at the time. The final product was available in April 2020.

How RNDR Network works

The Ethereum blockchain serves as the foundation for the RNDR ecosystem. This enables RNDR Token holders to keep their tokens in any ERC-20-compliant wallet. Furthermore, these tokens may be exchanged on any ERC-20-compliant exchange.

Users in the RNDR Network post their tasks to the community. The platform determines the amount of RNDR Tokens necessary to complete the task automatically. This information is then supplied as an attachment detailing the specifications of a smart contract, and the data is subsequently sent across the RNDR Network.

GPU owners use OctaneRender to perform necessary tasks. OctaneRender employs RNDR to spread the foundation of the current rendering service, and the entire procedure removes the middleman, resulting in a more responsive user experience. Users can send RNDR Tokens to the individuals performing the render work. The tokens may also be used to transmit value worldwide, and every RNDR Token transaction incurs a modest percentage fee, which is used to fund RNDR Network’s future growth and operation.

What is RNDR Token used for?

Under the protocol, anyone with a contemporary GPU may donate rendering power in exchange for tokens. Clientele may save money on hardware investment expenses if regular users generate income in a safe and simple way. RNDR Network fills the gap between GPU supply and demand in this manner.

RNDR Network aims to link media makers in need of computer power in order to complete render projects with consumers who have idle hardware they wish to monetise, with the use costs paid via RNDR Tokens. It also provides new users unfamiliar with cryptocurrency with a simple method of getting started on the network and gaining confidence by utilising RNDR Credits; which, unlike RNDR Tokens, may be acquired directly via their portal using PayPal and Stripe.

When a customer purchases RNDR Credits, those Credits are backed by RNDR Tokens acquired by the RNDR team via an exchange. This implies that when a creator uses RNDR Credits to pay for a task, node operators are compensated in RNDR Tokens for their efforts.