What is Render Network?

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What is Render Network?

What is Render Network?

Summary

  • Founded in 2017 by Jules Urbach, the Render Network is a blockchain based global rendering platform where GPU work is used to help create next generation 3D Content.

  • Simply explained, Render Network is a provider of decentralised GPU based rendering solutions.

  • RNDR is the native token of the Render Network, and it serves three primary purposes: payment for rendering services, rewards for GPU, and governance.

Table of Contents

Introduction

As the world goes more digital, computational infrastructure stands as a major blockage in producing next-generation media, which requires greater computing power than what is available in the centralised GPU cloud. 

This is where Render Network, a blockchain-based platform, comes into play. The blockchain-based platform is specifically tailored for the 3D rendering industry, and aims to enhance the efficiency and affordability of rendering tasks through the use of decentralised computing capabilities. 

The AI-based blockchain project aspires to make rendering services more available to the public, by extending its reach to a wider spectrum of artists, designers, and content creators. 

What is Render Network?

The Render Network is a high-performance distributed GPU rendering network that leverages industry-leading OTOY Inc. software to facilitate a compute marketplace between GPU Providers and GPU Requestors.

The revolutionary project introduces an open and decentralised ecosystem of connected 3D digital assets to redefine the creation and monetisation of digital content. 

Founded by Jules Ulbach in 2017, platform is mainly designed to simplify the complex process of rendering 2D and 3D computer models into more realistic images and scenes. It achieves this by connecting users who need rendering tasks done (Creators) with individuals who own idle Graphical Processing Units (GPUs) and can perform these tasks (Node Operators).

Render operates on the Ethereum blockchain, and uses smart contracts for transparent transactions, which provides transparency and security all while eliminating the need for expensive centralised rendering farms

To wrap it up, Render Network is a project aiming to transform the 3D content industry by providing decentralising the whole process – making it more accessible, efficient, and mostly affordable.

How Does Render Network Work?

To meet users’ increasing GPU compute needs, the Render Network adopts a decentralised GPU processing model. With this model, the platform provides near real-time rendering both for current 3D rendering tasks and for emerging 3D applications. 

Therefore, users can submit rendering tasks to the Render Network, specifying the details of the job. The platform then calculates the required amount of RNDR tokens to complete the task and creates a smart contract with this information. This contract is transmitted through the RNDR Network.

GPU owners, known as Node Operators, use the so-called OctaneRender to perform these rendering tasks. OctaneRender utilises RNDR tokens to facilitate the process, effectively removing intermediaries. Users pay Node Operators with RNDR Tokens for their services, and a small fee is charged for each transaction. This fee helps fund the growth and operation of the Network.

Notably, the operational model utilised by Render Network enhances render speed for artists, while reducing costs and increasing scale. It further improves capital efficiency by utilising idle GPU compute capability and rewarding GPU providers for their service. Render’s model also gives users open access to a growing suite of render and render-related software providers. 

What Makes Render Network Unique? 

The decentralised approach to rendering tasks is what makes this whole project unique.
Here are some key features that set Render apart:

  1. Decentralisation: By distributing rendering tasks across a network of GPU owners, Render decreases the reliance on centralised rendering farms. This approach is considered to be more efficient and affordable.

  2. Ethereum Integration: Render leverages the Ethereum blockchain for transparent and secure transactions. RNDR Tokens can be stored in any ERC-20-compliant wallet and traded on compatible exchanges.

  3. Proof-of-Render: To ensure that rendering tasks are completed satisfactorily before payment, Render employs a proof-of-render system. This system makes sure the rendered work meets the specified requirements.

  4. Affordability: Render aims to make high-quality rendering accessible to a broader range of users by eliminating the need for expensive hardware and centralised services.

Who is the Founder of Render Network?

Render Network was founded by Jules Urbach in 2017. Jules Urbach is also the CEO of OTOY Inc., a cloud-rendering company and the parent company of Render Network. The whitepaper for Render Token was published on August 28, 2017.

What Are the Use Cases and Applications of Render Network?

Render Network opens doors to a world of possibilities for artists, engineers, designers, and developers. Its decentralised GPU rendering capabilities pave the way for new creative, scientific, and industrial endeavours that were once economically unfeasible with local infrastructure or centralised services.

Below are some of the major use cases and applications of the AI-based platform: 

Visual Effects and Motion Graphics

With Render, independent artists and studios can create large-scale 3D visual effects without the need for costly render farm infrastructure. Likewise, its on-demand GPU resources enable rendering at higher resolutions and multiple formats for enhanced post-production flexibility.

Virtual Assets and Non-Fungible Tokens (NFTs)

3D artists can use the Render platform to create NFTs and virtual assets with rich provenance. More so, next-generation virtual assets can be tokenised by leveraging Render Network, allowing for the monetisation of portable 3D virtual assets.

Virtual Production

The platform can also be used by filmmakers to seamlessly blend live action with rendered 3D environments, expanding the possibilities of cinematic worlds.

What is RNDR?

As previously mentioned, RNDR is the native token of the Render Network, serving three primary functions: payment for rendering services, rewards for GPU providers, and governance. 

Creators use RNDR tokens as payment for rendering tasks. This payment system offers flexibility through multiple pricing tiers, allowing creators to choose GPU providers that are in sync with their needs and budget.

Whether it’s high-performance rendering or cost-effective options, the availability of various tiers ensures that creators can tailor their rendering experience to their specific requirements.

On the other hand, Node Operators within the Render Network contribute their GPU power to complete rendering tasks, earning RNDR tokens as compensation. The amount of RNDR tokens earned is influenced by several factors: the tier of the rendering job, its duration, and complexity. 

Node Operators also have the opportunity to bolster their reputation and gain access to a wider array of rendering jobs by staking RNDR tokens. This system not only incentivises active participation, but also rewards those who commit their resources to the network’s rendering tasks, fostering a dynamic and responsive rendering ecosystem.

More so, RNDR tokens grant holders the ability to participate in the governance of the Render Network. This means that token holders have a say in decision-making processes that shape the network’s rules, policies, and future developments. 

The more RNDR tokens a holder possesses, the more influence they can wield in influencing the direction and decisions of the Render Network, ensuring a decentralised and community-driven approach to its growth and operation.

Render Tokenomics

117,843,239 RNDR out of 536,870,912 RNDR tokens officially went live for public sale in 2017 followed by a private sale from January 2018 to May 2018.

The key supply of the RNDR tokens are as follows:

  1. Circulating Supply: 150m RNDR
  2. Total Supply: 536m RNDR
  3. Max Supply: 536m RNDR

Out of the 150m circulating supply, 6m RNDR tokens are set for the RNDR Reserve “RR” and user acquisition activities. Their team has also stated that as the network grows, they will need an influx more tokens which will be used from the RR.

The current token allocation of RNDR
The current token allocation of RNDR

Where To Buy RNDR?

Following its unique use cases and wide adoption, RNDR has been listed on BitDelta as a leading AI token with the trading ticker RNDR/USDT.

Register with BitDelta today, and Trade RNDR against USDT.

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