Binance, the world’s leading cryptocurrency exchange by trading volume and users, has announced a new project called “Render Network” (RNDR). According to the announcement, Binance will be investing in the development of RNDR, which is a decentralized rendering platform powered by blockchain technology.
The platform will allow users to “rent out” their idle computer resources to power the network and earn rewards in RNDR tokens.
The RNDR token is an ERC-20 token built on the Ethereum blockchain. It will be used to power the Render Network and will be used as a currency for paying for rendering services.
The Render Network will be open to anyone with a computer and an internet connection. There are no requirements or restrictions on who can participate.
The announcement from Binance comes as no surprise given their recent investment in the Dapp development platform, TRON. Binance has been aggressive in their pursuit of new projects and investments that will help grow the cryptocurrency ecosystem.
Their investment in RNDR is yet another example of their commitment to innovation and adoption of new technologies.
The Render Network has the potential to disrupt the traditional rendering industry which has been dominated by centralized platforms like Amazon’s AWS and Microsoft’s Azure. The centralized nature of these platforms has resulted in high costs and slow speeds.
The Render Network promises to be faster and cheaper due to its decentralized nature.
Binance’s investment in RNDR is a vote of confidence in the project and its team. With the backing of one of the most influential players in the cryptocurrency space, the Render Network has a good chance of becoming a major player in the rendering industry.