Important update on the Crypto Market; understand RNDR!

2 พ.ค. 2023

Quick Intro
In this fundamental analysis article, we will explore RNDR (RenderToken), a distributed GPU rendering network built on the Ethereum blockchain. RNDR aims to revolutionize the rendering industry by connecting artists and studios with GPU providers in a decentralized manner. We will delve into the workings of RNDR, its token utility, and the notable aspects of the project.

Overview of RNDR:

• RNDR was conceptualized by Jules Urbach, CEO of OTOY, Inc., in 2009 and launched in 2017.
  
• The project conducted its first public token sale in October 2017, followed by a private sale period from January to May 2018.
  
• RNDR raised a total of 117,843,239 tokens during the private sale, with each token priced at $0.25 USD equivalent.
  
• The RNDR Beta Testnet involved early adopters, including beta node operators and artists, who collaborated with the team to refine and test the network.
  
• On April 27th, 2020, RNDR went public with its official launch.
  

How RNDR Works:

• RNDR operates on the Ethereum blockchain, utilizing the ERC-20 standard for its utility token.
  
• Artists on the network can exchange RNDR tokens for GPU compute power provided by GPU operators, enabling efficient rendering of complex graphics.
  
• RNDR employs a combination of manual and automatic proof of render mechanisms to ensure the successful completion of rendering tasks before payment is disbursed and the artwork is released.
  
• The network utilizes the inherent security properties of the Ethereum blockchain to hash and distribute proprietary assets to nodes for rendering.
  
• Payments for rendering services are held in escrow during the process and released to node operators upon manual verification by the commissioning artist.
  
• To prevent malicious activities, rendered assets remain watermarked until payment is received, and all payments are held in escrow until successful verification.
  

About RNDR:

• RNDR is backed by OTOY, Inc., with its team based in Los Angeles and members located worldwide.
  
• The advisory board includes industry leaders such as Ari Emanuel, JJ Abrams, and Brendan Eich, providing guidance in aligning the project's objectives with the cryptocurrency and Hollywood production communities.
  
• RNDR has seen growth in its user base, with the number of active addresses reaching 29,000 compared to 22,000 three months ago, indicating increasing adoption and interest.
  

tldr:
RNDR presents a unique use case for blockchain technology in the rendering industry, providing artists and studios with access to efficient GPU compute power. The combination of decentralized rendering, secure payment mechanisms, and a renowned team backing the project positions RNDR as a potential disruptor in the field. As the project continues to grow its user base and expand its network, the future adoption and utility of RNDR will be key factors in determining its long-term success.



My mid-term thoughts on the price:
The TPI is currently in the negative territory, to we might go lower in the mid-term (couple of days / weeks).


On the Long term I do see the price of RNDR going up if the strength of the cryptomarket continues to go up; the current long-term TPI is quite high.



Long term Crypto market is only slightly bullish on the long-term TPI:


Down below I linked a previous idea I made where I explain how the TPI works

I also linked the momentum channel indicator that I made, it's free for use here on TradingView, I made it a public script

9 พ.ค. 2023

บันทึก

Currently at a High Volume Node