What is Render Token (RNDR)? How does it work?

Render Token (RNDR) is a project, stating that it aims to bring together users such as artists, movie and TV studios, motion design artist and architectural visualization editors, who need the GPU (Graphics Processing Unit) computing power, with whom want to rent their GPU capacities. In this article, you can find answers to the questions of what is Render Token (RNDR), how does Render Token (RNDR) work, and how to trade RNDR/TRY and RNDR/USDT trading pairs.

What is Render Token (RNDR)?

Render Token (RNDR) is a distributed GPU rendering network built on the Ethereum blockchain. It is a project that aims to bring together those who need GPU, graphics processing unit power, and those with high graphics processing power. While artists and design studios are given as examples for those who have this need, individuals and companies engaged in mining activities are given as examples for those with high graphics processing unit power.

Render Token (RNDR) was designed and developed by Jules Urbach, CEO of OTOY company in 2016 and released in 2017. Currently supported by the founding company OTOY, Render Token (RNDR) is based in Los Angeles. Ari Emanuel, J.J. Abrams and Brendan Eich are on the advisory board who are industry leaders from the software, cryptocurrency, and filmmaking fields.

RNDR is a utility token with the ERC-20 standard. It is used in exchanges between artists, production, design studios and GPU providers, called node operators of the network, who want to join the network and take advantage of the high GPU power.

How does the Render Token (RNDR) work?

The project’s technical documentation states that the decentralized network of Render Token (RNDR) is based on an automated job assignment system that can be scaled to suit the needs of any project. One of the suggestions that Render advocates is that digital artists, designers, and producers cannot afford to set up a very expensive GPU data center and update them periodically. In this way, it is stated that they can meet their needs with the Render network.

Render Token (RNDR)’s network uses a Proof of Render (PoR) mechanism. The render network is built on the Ethereum blockchain and OctaneRender, a rendering application developed by the OTOY company. The data verification and payment processes of all services and transactions in the project are carried out with the project’s local token RNDR.

Render is based on a protocol that creates reputation scores for users and a multi-layer pricing. Customers can choose between these layers: Layer 1 (Trusted Partners), Layer 2 (Priority) and Layer 3 (Economy).

Layer 1 services usually consist of more reputable GPU rendering service providers (Node Operators) who charge a higher fee. Users receive a reputation score based on Node Operator feedback, which determines how many concurrent nodes they can access at any given time. This is a score that affects how long the jobs they want can be completed.

During an image processing job in the checkout process, all payments are stored in secured environment and RNDR tokens are released to Node Operators after job creators verify manually that a certain percentage of the job has been completed.

How do you store Render Token (RNDR)?

RNDR, the native token of the Render Network, is built on the Ethereum blockchain. You can store and manage ERC-20 based RNDR balances using a desktop, mobile or hardware wallet that supports ERC-20 based Ethereum assets.

How do you trade Render Token (RNDR)?

You can use the BtcTurk | PRO website or mobile app to buy and sell Render Tokens (RNDR) using Turkish Lira or Tether. If you’re not a BtcTurk member yet, you can become a member now on our website or mobile app. You can purchase Render Tokens (RNDR) by depositing Turkish Lira — a service available 24/7 — if you use one of BtcTurk’s seven contracted banks.