This Lesser Known Altcoin Blows Up 91% In The Last Week – Find Out Here

Christian Encila

2 years ago

3 mins read

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Graphic Processing Units, more commonly known as GPUs, are an essential part of a computer to perform complex tasks like gaming or video editing. With video content playing a big part in the modern society, rendering a simple video with using a desktop computer might take a few minutes to a few hours.

Render Network addresses these, and the computing power requirement for Web3’s continuous growth. Because of this utility, RNDR, the network’s native token, has exploded 91% in the weekly time frame as seen on Coingecko.

How Does Render Work?

Founded in 2016 by Jules Urbach, the network uses a decentralized system of GPUs that help creatives leverage the computing power for a fee. The nodes that contributed to the project are then rewarded with RNDR, the network’s native token.

The use of GPUs in the world of crypto is not a novel idea. A proof-of-work system uses a GPU as well in a different setting. In PoW, the GPU crunches through complex math to provide the blockchain security. The GPU owner – which in this case is called a miner – is then rewarded for successfully mining a block.

Hence, the name of the technology, blockchain.

With Render’s use case, no block is mined. Instead, 100% of the computing power of the GPU is used to process multiple types of media. A user, designated a Creator, would put a render request on the network for a fee. This request would then be distributed to a node which would then process the render and gain RNDR for the job.

A small fee is paid to the network for the maintenance of the network itself. With the interest in NFTs growing lately, Render might see more demand in the near future.

What’s In Store For RNDR?

The native token of Render has been seeing amplified growth in the past month as a result of the broader market rally which pulled the entire market upward. As it stands now, RNDR is above its $1.494 support level, regaining May 2022 levels.

This recent breakthrough will give RNDR bulls with enough momentum to potentially turn $2 to support. But the current breakthrough might’ve exhausted the bulls as the token enters consolidation above its current support.

Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com

Investors and traders should be able to enjoy profits in the short to medium term as the low volatility enters the market. Long term, bulls can comfortably target $2 with a possibility of higher breakthroughs if the aforementioned resistance is broken.

Featured image by Beanstalk

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.