Render Price Today - RNDR Live Charts
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Render
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What is Render (RNDR)?
Render (RNDR) is the ERC-20 token of the Render Network, a decentralized, peer-to-peer network that enables users with surplus graphics processing unit (GPU) power to rent out their excess capacity to others who need it.
GPUs can power image manipulation, rendering, video gaming, augmented and virtual reality, metaverse activities, and cryptocurrency mining. The Render project was created in 2017 by now-CEO Jules Urbach, who also founded the Disney and HBO-backed cloud graphics company OTOY.
Render was created as a blockchain-based version of OTOY’s cloud services and was run by OTOY until January 2023, when the not-for-profit Render Network Foundation was formed. OTOY and other backers, including Swatchbook and MR studies, still participate in Render’s engineering and development.
What Makes Render (RNDR) Coin Unique?
Render Network’s services are a unique value proposition in the blockchain and cryptocurrency space. It appears to be without competitors for GPU sharing but does have similarities with projects such as Storj and Filecoin, which offer decentralized marketplaces for file sharing.
Rendering images and video files takes powerful GPUs and is time-consuming. The Render Network connects those who need rendering power with GPU owners who aren’t using their processing capability. Idle GPUs become nodes on the Render Network, and users with rendering projects are “creators.”
What Is Render (RNDR) Used for?
The Render (RNDR) token powers the Render Network. Creators use it to pay for rendering services and to participate in community governance via Render’s decentralized autonomous organization (DAO). Render (RNDR) is also bought, sold, and otherwise traded on cryptocurrency exchanges.
How Does Render Work?
Render creators submit rendering jobs and commit RNDR tokens as payment for the work. Creators select one of three pricing tiers, with the most expensive being the fastest service. Rendering jobs are assigned to node operators with surplus GPU power. Matchmaking is based on the reputation of the creator and the node operator. Render Network payments and transactions are completed on-chain, but the actual rendering jobs and their details occur off-chain.
The Render Network has a burn and mint equilibrium mechanism (BME). Jobs are priced in fiat, and creators pay by purchasing RNDR from liquidity pools or directly. 96% of these tokens are burned, and 5% go to the Render Network Foundation. The Render Network protocol mints new tokens to pay for the work when paying nodes. In this model, supply and inflation, or deflation, can be controlled.
How Is the Price of Render (RNDR) Determined?
The RNDR price is influenced by factors such as supply and demand, the popularity of the Render Network, and Render’s BME. Render’s introduction of its BME in January 2023 enabled the token to become deflationary. There is a maximum supply of 644 million RNDR tokens, and the number of emissions, (newly minted tokens), decreases over time.
The following factors influence RNDR price:
- Supply, demand, and scarcity
- Render’s BME mechanism
- Liquidity
- RNDR market sentiment
- Cryptocurrency market sentiment
- The use of the Render Network
- Render competitor performance
What Is the Render Coin Price Prediction for 2030?
The future performance of cryptocurrencies is hard to forecast, but there are a number of bullish Render price predictions.
For example, by 2030, CoinCodex expects RNDR to trade between $13.13 and $16.62. Meanwhile, CoinMarketCap believes the token could reach as high as $15.46 in 2030.
How Is the Render (RNDR) Network Secured?
Render (RNDR) is an Ethereum ERC-20 token, so it takes its token network security from Ethereum’s technology and proof-of-stake consensus mechanism and governance.
Where Can You Buy Render?
RNDR can be bought and sold on major cryptocurrency exchanges, including Coinbase, Binance, KuCoin, Kraken, Bitstamp and Bithumb. It’s also available on the Uniswap decentralized exchange.
How Can You Store Render (RNDR)?
Render (RNDR) can be held in exchange crypto wallets, Ethereum-compatible hot or cold wallets, and hardware devices. Although hot wallets are safer than exchange wallets, by far the most secure place to store cryptocurrency tokens is in an offline hardware wallet, where it is safe from a digital hack.
FAQs
Is Render a good investment?
Investors will decide if Render (RNDR) is a good investment based on thorough research of current market conditions and of the future potential of the project. While cryptocurrencies are unregulated and incredibly volatile, Render (RNDR) performed relatively well across 2023. Moreover, the Render Network is viewed as a credible blockchain project with some potential due to its unique value proposition and development team.
Who owns the RNDR coin?
Jules Urbach is the creator and CEO of the Render Network. The Render Network is now governed by the Render Network Foundation, with its initial investors and backers remaining part of the Render community.
What are the risks of Render?
Cryptocurrency prices are volatile, and the sector is unregulated. Render’s success depends on its use and the coin’s performance in the cryptocurrency markets, as well as broader market factors. However, the Render Network is generally viewed as a credible project that could have strong potential for Web3.
Who uses Render?
Render is used by graphics, video, media, and metaverse creators who require additional GPU capacity for rendering work.
Who are RNDR’s competitors?
So far, the Render Network (RNDR) appears to have no direct competitors but does compete against other tokens in the cryptocurrency markets. The Render Network competes against established cloud-rendering service providers outside of cryptocurrencies and blockchain.
How many Render coins are there?
There is a maximum supply of 644 million RNDR tokens. 55% of tokens are allocated to the Render User Development Fund, 25% were unlocked in the token sale, 10% were allocated to the team, and 10% were reserved.
How much will render crypto be worth in 2025?
The future performance of cryptocurrencies is almost impossible to predict, but there are some Render price predictions for 2025.
CoinCodex expects RNDR to trade between $6.11 and $17.35, by 2025, and CoinMarketCap believes the token could achieve $6.67.
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