RNDR network is a point-to-point GPU computing network, Connect the creator who needs extra computing power to render the scene and the provider who is used to receive RNDR tokens to capture their GPU power. It allows the distribution and processing of complex GPU-based rendering jobs over P2P networks, making it easier for end users to render and stream transactions of 3D environments, models, and objects.
RNDR is a practical ERC-20 compatible token for paying for animation, motion graphics, and VFX rendering on a distributed RNDR network.
The idea for the RNDR network was originally conceived by its parent company, Los Angeles technology company OTOY Inc. Conceived in 2009 by Jules Urbach, CEO of GPU-based software solutions. The idea behind the RNDR network is to leverage blockchain technology to improve the use of Gpus worldwide, rather than the proof-of-work of other blockchains. In short, RNDR intends to connect media creators who need computing power to perform rendering work with those who have idle hardware and hope to profit from it. RNDR tokens are used to pay royalties to these users. It also allows new users unfamiliar with cryptocurrencies to easily start the network while feeling comfortable with RNDR credits. Unlike RNDR tokens, RNDR Credits can be purchased directly through the RNDR portal using PayPal and Stripe. When users purchase RNDR points, these points are supported by RNDR tokens purchased from the exchange by the RNDR team. This means that when creators use RNDR Credits to pay for work, node operators will pay in their WORK's RNDR token.
The initial token was issued between October 6, 2017 and October 12, 2017. A total of 4650922 RNDR were sold in the process at a price of $0.25 per token. In March 2018, the team announced that the total number of tokens minted in the ecosystem was 536,870,912 RNDR. The process of contract migration began in March 2018 with a 1:1 transfer ratio between new and old contracts. The Genesis Mainnet release occurred on June 24, 2019, when the project migrated from Ropsten test network to ethereum main network, which has since exceeded. Then, in March 2020, the team took advantage of market conditions at the time to announce plans to purchase 4.5 million RNDR tokens on the Probit exchange.
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