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Render(RNDR) Online with Wigwam crypto app
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How to buy and hold RNDR with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
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Render (RNDR) token review
Render (RNDR) is an ERC-20 utility token of the Render Network, a decentralized GPU rendering network. The token is utilized to pay for animation, motion graphics, and VFX rendering in the Render ecosystem.
RNDR aims to link people who have unused hardware with media producers who require processing power, allowing individuals to contribute unused GPU power to help in 3D rendering projects and empower artists and studios with computing power.
About Render token
The Render Network utilizes the Ethereum blockchain to distribute rendering tasks across a network of computers equipped with GPUs. This approach is more cost-effective and quicker compared to traditional methods. The network offers several components such as OctaneRender, ORBX Media, the RNDR Marketplace, and the RNDR SDK that empower developers to construct decentralized applications on the Render Network.
The RNDR Network was launched in 2020 and since then it has been working towards growth and innovation through its various features. The Network unveiled RNDR Credits, enabling creators to acquire rendering capabilities via PayPal and Stripe. These Credits are exclusive to the network, non-negotiable, and cater to non-technical creators, offering a user-friendly pathway to decentralized services.
RNDR use cases
The RNDR token has the following use cases within the Render Network ecosystem:
Payments: RNDR tokens serve as the currency for compensating Node Operators for rendering services. Creators can utilize RNDR tokens to cover the GPU compute time required to fulfill their rendering tasks.
Buying rendering power: The introduction of RNDR Credits by the Render Network enables creators to acquire rendering power using PayPal and Stripe. These are exclusive Credits on the network, cannot be exchanged, and are solely usable within it. This provides a more user-friendly route for non-technical creators to access decentralized services.
Reward: Users who share their unused GPU power with the Render community, receive RNDR as a reward for their contributions.
Revenue: The Render Network receives a percentage from the payments for facilitating transactions and operating the network. This enables the network to generate income while sustaining its operations.
RNDR Economic value
RNDR has a maximum supply of 531.04M, out of which 376.15M are in circulation, with 25% of the tokens sold in public sale, while 10% are allocated to the RNDR Reserve. The remaining 65% of tokens are held in escrow to manage the network's supply and demand dynamics.
The RNDR token employs a burn-and-mint equilibrium (BME) mechanism to regulate its supply. The BME model aims to make RNDR a commodity and deflationary asset, ensuring that the number of tokens burned is equal to the number minted, thus maintaining a balanced token supply.
Challenges
The Render Network is growing and gaining popularity as the network’s rendering technology has been used in big projects like Marvel films, The Last of Us, and in remastered versions of “Star Trek” films. The network has unparalleled potential in AI and the Metaverse. This has highlighted some underlying issues with it, as the demand for GPU resources is growing, Render needs to scale its infrastructure and improve its scalability. Improve the network's capacity to handle more rendering requests without compromising performance or security.
The network also expanded to the Solana blockchain, but to stay ahead of the competition, it needs to work on its multichain interoperability.
Disclaimer
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
FAQ
You can buy RNDR tokens in Wigwam Web3 wallet or from centralized exchanges such as Coinbase, KuCoin, kraken, and Binance.
Yes, You have the option to stake RNDR on centralized exchanges such as rehold.io and Kraken.
To view them, simply visit Etherscan and input your wallet address into the search bar.
Before adding RNDR to your crypto wallet, make sure that the wallet supports ERC-20 tokens. The steps specifics might vary based on the wallet you are using, but the general steps to add APE tokens will be as follows:
Open your crypto wallet, click on the option of “Add tokens”, and then enter the RNDR token details as follows
- Token Contract Address: 0x6De037ef9aD2725EB40118Bb1702EBb27e4Aeb24
- Token Symbol: RNDR
- Decimal Precision: With 18 Decimals
After entering the token details click on “Save” to add the RNDR token to your wallet.
RNDR is a cryptocurrency and comes with a high risk of the crypto market and price volatility. It's essential to thoroughly investigate before proceeding ahead with a specific cryptocurrency.
