Article Summary, Automatically Generated By AI
Summary of Render (RNDR)
Key Points
- RenderToken (RNDR) is a distributed GPU rendering network built on Ethereum blockchain.
- Conceived in 2009, launched in 2017, and held public token sale in October 2017.
- Total of 117,843,239 RNDR were sold at $0.25 USD equivalent per token.
- RNDR is an ERC-20 utility token used for exchanging GPU compute power.
- Utilizes a combination of manual and automatic proof of work system.
- Payments are stored in escrow during rendering and released upon manual verification.
- Assets are watermarked until payment is successfully disbursed.</
About Render: Unlocking the Power of Decentralized Computing
Introducing RNDR: A Revolutionary Platform
RenderToken (RNDR) is a decentralized GPU rendering network built atop the Ethereum blockchain, bridging the gap between artists and studios in need of GPU compute power and mining partners willing to rent out their GPU capabilities. Conceived in 2009 by OTOY, Inc. CEO Jules Urbach, RNDR was launched in 2017, following which it held its inaugural public token sale in October of the same year. This was succeeded by a private sale period spanning from January 2018 to May 2018, during which a total of 117,843,239 RNDR tokens were sold at a price equivalent to $0.25 USD per token. Throughout the private sale period, early adopters were onboarded onto the RNDR Beta Testnet, where beta node operators and artists collaborated closely with the RNDR team to develop and test the network, culminating in its public launch on April 27th, 2020.
How RNDR Operates: A Comprehensive Overview
RNDR, an ERC-20 utility token, facilitates the exchange of GPU compute power between artists and node operators on the network. By leveraging a hybrid proof-of-work system, dubbed “proof of render,” RNDR ensures that all artistic renderings are successfully completed prior to payment disbursement and art release. The Ethereum blockchain’s inherent security properties are utilized to hash proprietary assets upon upload, which are then distributed piecemeal to nodes for rendering. Throughout the rendering process, RNDR payments are securely stored in escrow, only to be released to node operators upon manual verification by the commissioning artist. To safeguard against malicious activities from both user bases, all rendered assets are watermarked until payment is successfully disbursed, at which point un-watermarked renderings can be downloaded, with all payments held in escrow until manually verified as correctly rendered.
About RNDR: Revolutionizing the Realm of 3D Rendering
Supported by its parent company OTOY, the RNDR team, headquartered in Los Angeles, boasts a diverse global presence with team members scattered across the world. The esteemed RNDR advisory board comprises industry luminaries, including Ari Emanuel (Co-Founder and Co-CEO, WME), JJ Abrams (Chairman and CEO, Bad Robot Productions), and Brendan Eich (Founder and CEO, Brave Software and BAT), who have collectively lent their expertise to RNDR, facilitating the convergence of cryptocurrency communities and Hollywood studio production pipelines.