What is Render (RNDR)?

Render is the first-of-its-kind decentralized and distributed 3D rendering network. Built on the Ethereum blockchain, it allows GPU owners to monetize their otherwise idle GPUs by loaning out GPU powers to those in need. In other words, the Render network bridges users who want to do Render jobs with those who have spare GPUs to process the renders.

The Render network was launched in 2017, followed by the first sale of its native token, RNDR, in October of the same year. Finally, in April 2020, Render publicly launched its token, RNDR. It is an ERC-20 utility token powering the platform's rendering work. The GPU lenders registered on the Render network get paid in RNDR for lending out their GPU power to those needing it for rendering animation, motion graphics, and VFX. The maximum supply of RNDR is 536 million.

Along with rendering tasks, Render Network also contributes to AI space, where the demand for GPUs to train AI models has risen. In 2023, the Render community voted to build the Render network on a new layer-1 blockchain. They chose Solana due to its faster, cheaper, and scalable architecture and created a new token, RENDER, for this purpose. Those owning RNDR can upgrade their RENDER in 1:1 through the platform's network upgrade portal. For the first 90 days of the upgrade, the Render network foundation paid the gas fees for every RNDR to RENDER upgrade. The last date of this offer was January 31, 2024.

How Does Render (RNDR) Work?

The Render network comprises Creators, Node operators, OctaneRender, and a Proof-of-Render consensus. Creators create jobs requiring GPU power, and Node operators are the GPU owners who lend their idle GPU power to the network. OctaneRender is a rendering application that enables synergy between the blockchain and decentralized 3D content creation. It gives the streaming framework to the Render platform to facilitate decentralized rendering marketplace work.

The creators who want to rent GPU power from the Render network create a job for the same, containing all the task details. Depending on the job profile and availability of resources, they also determine how much RNDR tokens they need to pay the node operators. Then, Render's pricing protocol creates a reputation-based price ranking system for node operators to decide the job allocation. The creators can use this system to select the pricing tier to which they will assign the job. For example, tier-1 services include the project's trusted partners, while tier-2 is for those creators who wish to obtain high-quality service. On the other hand, tier 3 is economically more attractive.

For processing the job, the Node operators use OctaneRender, a rendering application developed by a graphics software company, OTOY, associated with the Render network. Throughout the process, the creators' and node operators' data stay end-to-end encrypted for security and privacy. Creators can also track the process through the OctaneRender's real-time functionality.

The Proof-of-Render (POR) consensus algorithm coordinates the entire process. It works similarly to Proof-of-Work (PoW) consensus; however, the task here is a graphic rendering job instead of solving the mathematical puzzle. Upon completing a task, the POR algorithm updates the status related to node operators, their status, and reputation depending on the task's quality.

As the platform's utility token, the RNDR token performs various tasks. One of them is giving its holders a special right to submit their votes on Render Network Proposals in the RenderDAO. Each RNDR holder's vote weight is proportional to the number of tokens they own. RNDR is also the base currency of the Render network, as creators who wish to render their graphics need to pay RNDR to the node operators for the job. The number of RNDRs to pay varies depending on the job, GPU power required, quality required, available resources, and priority preferences. For those who do not want to pay for the service with a cryptocurrency, Render Network also facilitates Render credits that they can purchase using bank cards or other fiat-based payment methods.

Furthermore, Render employs a Burn and Mint Equilibrium (BME) tokenomics model for its RNDR token, where the RNDR supply reduces over time through token burning while new RNDR gets minted to offset the token loss. Over time, such a mechanism creates a deflationary price spiral, causing the token price to surge in many cases. With reference to the Render network, the BME tokenomics requires creators to burn RNDR equal to some dollar value to create a job on the network. If they do not own RNDR, they must buy it to burn, escalating its demand in the market. Moreover, the Render network also mints RNDR to reward creators and node operators. 90% of the RNDR tokens minted go to reward node operators, while the rest go to availability rewards to reward participants for being available on the network.

How to Buy Render (RNDR) in India?

There are many platforms where you can invest and Buy Render (RNDR) in India.

One such platform is Flitpay. To buy RNDR in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy RNDR and execute the purchase.

You can instantly convert your INR to RNDR and RNDR to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Render (RNDR)?

RNDR can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the RNDR till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is Render (RNDR)?

RNDR is the native utility token of the Render network. It facilitates network governance, payment processing and incentives. Anyone owning RNDR gets to vote on the proposals related to changes in the Render network. The maximum supply of RNDR is 536 million.

What is the Render (RNDR) price in India?

Check out the current INR price of RNDR crypto in India on Flitpay.

Which is the best crypto app in India to buy RNDR?

Flitpay is the best cryptocurrency app in India to buy RNDR, buy bitcoin, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Render (RNDR)?

Render (RNDR) offers an innovative decentralized 3D rendering network. It enables GPU owners to earn through their idle GPUs by lending processing power to those in need. It also supports AI training tasks. As the platform's utility token, RNDR grants its holders governance rights and facilitates payments within the network. Furthermore, Render's Burn and Mint Equilibrium (BME) tokenomics model incentivizes participation, creating a mutually beneficial rendering process between creators and node operators.

Is it safe to invest in Render (RNDR) in India?

Yes, investing and trading RNDR is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying RNDR crypto. It offers real-time prices and advanced investing features.

Where can I deposit and withdraw Render (RNDR) crypto in India?

Your search for secure and instant crypto deposits and withdrawals ends here. Flitpay is India's most trusted exchange to facilitate hassle free and Instant deposits and withdrawals of all the top cryptocurrencies with minimal or no fees.