Among the top gainers on Sunday, CoinMarketCap shows that Render (RNDR) has achieved a 41% growth over the past week. The crypto actually dominated the roster of the day’s leading coins.
Render (RNDR) has been among the top performing crypto assets in the last few weeks. Render allows owners of the increasingly powerful graphics processing units (GPUs) industry to deliver computing power during periods of low demand.
Render (RNDR) – At A Glance
The Render (RNDR) Network is a blockchain-powered, decentralized, high-performance, distributed-computing platform. It was developed to help businesses in the film, animation, gaming, and architecture industries complete complicated rendering projects quickly and affordably.
To fulfill the need of large-scale rendering projects, the RNDR Network offers a scalable and decentralized solution by letting users leverage underutilized GPU capacity from other network participants to speed up their rendering processes.
The RNDR coin is the in-network currency that may be exchanged for computer power, staked for network rewards, and used to elect leaders. In sum, the RNDR Network utilizes blockchain technology and distributed computing in an effort to completely overhaul the rendering process.
Network Gains Traction And Attention
It’s no surprise that Render has been getting a lot of attention lately, what with the proliferation of the metaverse and the growing need for rendering services in a wide range of enterprises. So, the recent uptick in RNDR should not come as a surprise: widespread consensus among the rendering community to get ready for the inevitable increase in demand.
Render debuted in 2017 and spent the first half of 2018 in private sale. Render takes advantage of Ethereum’s built-in security features when uploading and transferring nodes to operators, as the network is based on the Ethereum blockchain.
RNDR Rallies Strong
At the time of writing, RNDR was trading at $2.47, up 41% in the last week. Over the course of a two-week timeframe, the token has rallied 46%, while maintaining a solid 93% increase in the monthly period, data from crypto market tracker Coingecko shows.
Render Network Proposal 002 and Render Network Proposal 003 have both recently been given the green light by the Render project’s governance section.
The goal of RNP-002 is to allow for more users to take part in the network’s decentralized infrastructure by adding more Layer 1s.
• RNP-002: 4.8M RNDR to approve and has met minimum quorum for final vote at 99.26% approvalhttps://t.co/czVyrEuS3s
• RNP-003: 4.7M RNDR to approve and has met minimum quorum for final vote at 99.90% approvalhttps://t.co/BT5Y3WnhL3
— Render Network | RNDR (@RenderToken) April 26, 2023
To integrate the Solana network into its services, RNDR holders voted overwhelmingly in favor of the idea.
On the other hand, RNP-003, which was also accepted by the Render Network community with a two-thirds majority, concerns itself with the accumulation and distribution of project funds.
The objective is to provide the organization with the tools and infrastructure it needs to carry out its objectives. It can then focus on its mission and the expansion of the network.
-Featured image from Invezz