Render Token serves as a network that interconnects the users who are searching to render the work with GPU computing. The Render Token (RNDR) project offering new opportunities to digital creators, it opens new gateways for the digital creators. This distributed network is created to provide access to content creators to distributed GPU rendering services on the distributed blockchain. Content creators, visual effect experts, 3D artists, GPU-heavy occupations, artists, developers, and studios are the users of this network and they got the benefit from the Render Token platform.
Artists who work with 3D designs and animations are aware that how much taxes are processed on a GPU. The final project can take hours to complete. Those who can afford high-end technologies can easily render the project while it is not possible for everyone. But it is possible with blockchain and cloud that accelerate the GPU compute power to the speed of rendering the process and also makes it more efficient. Render Token network is to regularize GPU cloud rendering that allows the users to monetize the sluggish GPU rendering power.
We are covering all the aspects of Render Token for our readers. It is the new smart technology that is not that popular yet but in the future, there will be wider scope for these technologies.
What is Render Token?
Render Token serves as a network that interconnects the users who are searching to render the work with latent GPU computing, it boosts the speed of rendering the process and also makes it more efficient. Render network works on a decentralized system that tracks and monitors render services with proper scaling.
The Render Token (RNDR) project offering new opportunities to digital creators, it opens new gateways for the digital creators. This distributed network is created to provide access to content creators to distributed GPU rendering services on the distributed blockchain. This network enables the users to share their GPU power seamlessly. Users receive rewards for their efforts on the network. Render Token provides computational advantages to artists, developers, and studios.
Those who want to access the Render Network have to first submit the job request for accessing the platform. The protocol of this network will determine the amount of RNDR tokens needed for the job and after computing the tokens it creates a smart contract with the relevant information. These smart contracts are introduced on the network where the members who own GPUs are rewarded for providing the computing power for the job.
Content creators, visual effect experts, 3D artists, GPU-heavy occupations, artists, developers, and studios are the users of this network and they got the benefit from the Render Token platform. The goal of designing this network is to regularize GPU cloud rendering that allows the users to monetize the sluggish GPU rendering power.
Who founded Render Token?
Render Token is the cryptocurrency that is launched by OTOY. OTOY is a company that is specialized in GPU-based software solutions. OTOY company entered the market in 2009 as a firm that resolves the increasing disparity between fulfilling the requirements of 3D artists and the processing power of GPU technology. OTOY launched its token-based cryptocurrency with the name of Render Token in 2017.
Jules Urbach is the co-founder of OTOY Company. Jules Urbach processes 25 years of experience in the field of computer graphics, streaming, and the 3D rendering industry. He has done productive work in framing effective strategies to make revolutionary changes in 3D rendering. He is the chief architect of this project. The RNDR project is managed by a team of blockchain developers and advisors. Ari Emanuel, J.J. Abrams, Brendan Eich,Mike Winkelmann, Jenniffer Scott, Demian Brener, David Vorick, and Manuel Araoz.
History of Render Token (RNDR)
Render Token is the subsidiary of OTOY. OTOY company entered the market in 2009. OTOY launched its token-based cryptocurrency with the name of Render Token in 2017. OTOY company has expanded its business by launching its token. OTOY has four offices, the headquarter of the company is situated in Los Angeles in California. Right now OTOY has 60 employees.
What is the RNDR Token?
RNDR is the Ethereum-based ERC-20 utility token. It is used for making payments to the miners on the token.
RNDR token allocation
- Sold RNDR Token- 25%
- RNDR Reserve (RR)- 10%
- Escow (to maintain demand/supply flow back to the network)-65%
The Escrow tokens are assigned in the custody of a third party. These are allocated to maintain demand/supply flow back to the network.
Where to buy RNDR?
RNDR token is not that popular and it is listed on the limited exchange. You can buy RNDR tokens from any exchange that offers buy, sell, and trading in RNDR tokens. Huobi Global, HitBTC, KuCoin, Hoo, and Gate have listed RNDR tokens; these exchanges have registered the highest trading volume globally. Currently, you can buy RNDR tokens in exchange for cryptocurrencies like Bitcoin and Ether. You cannot buy RNDR by fiat currency as no exchange offers Fiat/RNDR pairs. So if you have no cryptocurrency then you have to first convert the fiat currency into Bitcoin or Ether. Once you acquire the cryptocurrency you can exchange it directly with RNDR.
How to buy Render Token (RNDR)?
RNDR is listed on the world’s top exchanges. You can buy RNDR tokens from any exchange that offers buy, sell, and trading in RNDR tokens. Huobi Global, HitBTC, KuCoin, Hoo, and Gate have listed RNDR tokens; these exchanges have registered the highest trading volume globally. You have to just register the account on these exchanges to buy RNDR tokens. You can easily acquire RNDR tokens within few seconds on these exchanges.
Gate.io is recommended to US residents. US investors can go with Gate.io. Huobi is a global exchange but currently, it is not accepting applications from US residents. Huobi offers wider opportunities to investors.
Follow these steps to buy Render Tokens-
Step 1: Register the account on Binance
The first step is to register the account and create the account on Binance to buy cryptocurrencies like Bitcoin and Ethereum. It is very easy to register an account on Binance. You have to provide your name, address, email address, phone number, social security number, country code, and photo ID proof. The exchange will verify your identity for authentication purposes.
Step 2: Buy Coins with fiat currency
Once the KYC process is finished you can deposit the fiat currency by choosing the payment option in the payment gateway. You can deposit the funds via credit/ debit card or you can also do a bank transfer. It will impose some transaction fees when you pay through cards. Once you deposit the fiat currency you can check it in balances. Now click on Trade to buy cryptocurrencies. Suppose you are buying Bitcoin, select the BTC from the dropdown. Confirm the transaction and the crypto coins will be transferred to your account.
Step 3: Transfer the coins to altcoins exchange
Once you buy cryptocurrency you have to transfer it to the exchange that offers RNDR tokens. Open the account on Gate.io if you are a US resident otherwise you can open the account on Huobi. Now you have to transfer the cryptocurrency to this exchange. The process of opening an account is the same as Binance. You have to provide basic information and complete the KYC process. You can copy the address of Bitcoin here to transfer the coins.
Step 4: Deposit the BTC to the exchange
Once the account is opened you have to deposit BTC to the exchange. You have to copy the address of BTC where it is stored then you can paste the address of Bitcoin here to transfer the coins. Check the balances after 30 minutes. It takes some time to transfer the coins.
Step 5: Buy RNDR Token
Check the balances it will reflect BTC in your account. Now you have to open the trading room and click on Trade Now. Find out the pairs from available options. Select BTC/RNDR and click on Buy. Now fill in the amount for which you want to exchange the tokens. Now click on Submit to finish the transaction. You can check the balances as they will reflect in your exchange wallet.
How to Store Render Token (RNDR)?
If you are doing a short-term investment in RNDR then you can leave the coin in an exchange wallet. But if you are buying tokens for long periods then you cannot leave them on the exchange as the exchange is not that secures and it is prone to scams and thefts. You can transfer the coins in a secured wallet. There are several digital wallets are available for storing cryptocurrency. Digital wallets are of two types- software wallets and hardware wallets. Choose the wallet that supports RNDR tokens. Hardware wallets are also referred to as cold wallets and these are considered the safest wallet. The hardware wallet comes in USB devices that can be accessed by connecting with a desktop.
The Ledger Nano S is the most advanced wallet and it is the more secured wallet for storing the RNDR tokens. Ledger Nano X also supports RNDR tokens.
RNDR Token- A new approach for the developing market
Render Token is based on new technologies that fill the gap between fulfilling the requirements of 3D artists and the processing power of GPU technology. RNDR is the Ethereum-based ERC-20 utility token. It is used for making payments to the miners on the token. It saves energy and time. It had diminished the hardware cost. Though it is not that much popular today it has a bright future. In the coming years, you will see the growth of this project.