Author: Climber, Golden Finance

The AI track continues to be hot, and related concept currencies are still soaring. The upcoming NVIDIA GTC conference on March 18 has further fueled the enthusiasm of AI investors.

In this round of the AI market, Render Network (RNDR) can be said to have a leading position in the track. Not only has the token price risen to a historic high of $10.784, but it has also achieved a 2600% increase since last year, ranking among the top performers in the sector.

For ordinary investors, a 26-fold return is quite impressive. Today, Golden Finance will review how the outstanding token Render Network (RNDR) has achieved such success, and hopefully identify some commonalities of high-yield tokens.

Soaring High, RNDR Achieves a 2600% Surge

The AI trend has been brewing since early 2023, with the emergence of ChatGPT marking the first wave of explosive growth in the AI sector in the cryptocurrency industry. After experiencing fluctuations and corrections, the sector has been on a steady rise, culminating in high returns in March this year.

Among them, RNDR's performance stands out.

According to Coinmarketcap data, in early January 2023, RNDR was priced at around $0.4, reaching interim highs in May and December. When many investors thought the narrative of the AI sector had come to an end, RNDR surged again, reaching a historic high of $10.784 on March 7 this year, representing an increase of approximately 2600% since early last year.

Currently, RNDR has a market value of approximately $36.31 billion, with a circulating supply of 70.48%.

Render Network is a decentralized GPU rendering solution provider, aiming to connect users who need rendering jobs with those who have idle GPUs to process the rendering. Owners can connect their GPUs to the rendering network to receive and complete rendering jobs using OctaneRender.

With the support of its parent company OTOY, the RNDR team is headquartered in Los Angeles, with team members spread across the world.

In terms of project operation, simply put, the target object uses RNDR to exchange the GPU computing power of GPU providers (node operators). RNDR uses a combination of manual and automatic proof-of-work systems, or in this case, rendering proof, to verify that all artwork has been successfully rendered before payment and artwork release. Leveraging the inherent security properties of the Ethereum blockchain, proprietary assets are hashed upon upload and sent to nodes for rendering.

All RNDR payments are stored in escrow during rendering and released to node operators after commissioned artists manually verify successful artwork. To prevent malicious actors in both user groups, all assets rendered on the network are watermarked until successful payment, at which point the render can be downloaded without a watermark, and all payments are held in escrow until manual verification of correct rendering.

The project completed a $1.16 million ICO in 2018 and secured $30 million in strategic financing in 2021. The current project has a market value of $21.45 billion, with a token price of $5.63.

High Returns Behind: Combined Internal and External Factors

RNDR's ability to achieve a return of approximately 26 times in about a year is due to multiple factors.

Firstly, the overall positive external environment. The soaring price of Bitcoin has greatly boosted altcoins, and the main narrative in the financial markets since last year has been the AI sector. As a well-established AI project, RNDR has a long history of project development and mature business products. Therefore, under the favorable external conditions, it is easier to take off.

Additionally, the recent news that the founder of Render will attend the NVIDIA GTC24 conference and deliver a keynote speech has further stimulated its token price.

Secondly, the main challenge and business demand of AI is computing power. RNDR's service function happens to help address the huge demand for computing power. Render Network allows the distribution and processing of complex GPU-based rendering jobs on a large-scale distributed peer-to-peer network. This enables creators to compute at an unprecedented scale and price, and provides stronger privacy guarantees than any existing cloud provider.

In terms of project operation, the target object uses RNDR to exchange the GPU computing power of GPU providers (node operators). RNDR uses a combination of manual and automatic proof-of-work systems, or in this case, rendering proof, to verify that all artwork has been successfully rendered before payment and artwork release. Leveraging the inherent security properties of the Ethereum blockchain, proprietary assets are hashed upon upload and sent to nodes for rendering.

All RNDR payments are stored in escrow during rendering and released to node operators after commissioned artists manually verify successful artwork. To prevent malicious actors in both user groups, all assets rendered on the network are watermarked until successful payment.

Finally, the team's continuous development of the project is also a major factor. In November last year, Render Network officially announced the successful migration from the Polygon ecosystem to the Solana ecosystem. This migration involved the implementation of multiple RNP proposals (Render Network Proposals) approved by the Render community over the past year, including the migration of the Layer1 ecosystem, the issuance of a new token (RENDER), and the implementation of a new Burn and Mint Equilibrium (BME) token economic model, which will have a profound impact on the entire Render ecosystem and all stakeholders of RNDR (soon to be upgraded and renamed as the SPL token RENDER).

In addition, Render is undergoing more innovative upgrades, such as the latest 007 proposal plan to introduce the FEDML cloud platform and introduce various computing clients, such as Beam, io.net, and other cloud platforms. In addition, at the Solana Breakpoint 2023 conference in December last year, Render also announced the provision of multiple renderers for users, adding Maxon's Redshift, Physical, and Standard renderers.

Conclusion

In terms of RNDR's current surge, a 26-fold increase is obviously at a high level. However, for the cryptocurrency industry, there are many tokens that have seen increases of hundreds of times. Therefore, there is still potential for RNDR. If the narrative of AI continues, then RNDR's spring is likely to last even longer.

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