Render (RENDER)

Here’s some information about the Render platform and its blockchain.

What is a Render token?

RENDER (RENDER price) is the native token of the Render platform, enablingdecentralized exchange of computing power.
The word Render comes from the English word for “render”.
Render can therefore be defined as a decentralized 3D or graphics rendering solution.
Users can buy, sell or trade computing power on a peer-to-peer basis.
Let’s take an example.
Let’s say you want to use an application or create an image that requires a lot of graphics power.
If your computer doesn’t have enough power, you can rent some on Render.
Conversely, if you have a large graphics capacity but don’t use it, you can rent it on Render and earn RENDER tokens.
Render is positioned in a strategic sector, that of computing power.
This is expressed in GPUs (Graphics Processing Units).
With the advent of metavers and very high quality video formats such as 4K, the need for graphics power is ever greater.
Thanks to blockchain, Render provides a concrete solution to three challenges:

• Need for graphics power.
  Thanks to its decentralized, user-driven network, Render offers a scalable solution;
• Flexibility and economy.
  Render lets you monetize graphics power.
  What’s more, it provides a cost-effective solution to the needs of individuals and businesses alike, since Render does not require a centralized infrastructure that is often prohibitively expensive;
• Intellectual property protection.
  With OctaneRender (see below), the Render platform protects user data from theft, deletion or censorship.

At the time of writing, the capitalization of the Render project is 2.67 billion euros (as at July 24, 2024).
Such a capitalization positions RENDER in 32nd place, close to other renowned cryptos such as stellar (XLM), Arbitrum (ARB), Cosmos (ATOM), Filecoin (FIL).
The current price of the RENDER token is around €6.25.

The Render token migrates to the Solana blockchain

Render Network was originally created on the Ethereum blockchain.
RENDER was therefore an ERC-20 token.
But on November 2, 2023, the team announced on Twitter that it had successfully completed the migration to the Solana blockchain.
This migration was the result of the vote on proposal RNP 002, which had been created on March 20, 2023.
For Render CEO Jules Urbach, “Solana’s incredible transaction speeds, low costs and commitment to web-scale architecture make it a perfect choice”.
Token holders have since been invited to migrate their Ethereum tokens to Solana via the bridge wormhole.
From the RENDER token holder’s point of view, the migration is virtually seamless. The former ERC-20 RENDER token becomes RENDER (ratio 1:1) and switches to the Solana standard (SPL).
To support RENDER token owners, the Render team has set up a subsidy program worth 1.14 million tokens to pay for the Ethereum gas fees inherent in the migration.

Buy RENDER with Coinhouse

The Render project was launched in 2009 on the initiative of Jules Urbach.
The firm responsible for developing Render is OTOY, a company specializing in graphics rendering and virtual reality.
The first public sale of RENDER tokens took place in October 2017.
The network was officially launched on April 27, 2020.
The Render Network team is based in Los Angeles, California.
Jules Urbach, the founder of Render, is the project’s CEO.
A 3D pioneer, he is said to have launched his first video game at the age of 18 and developed one of the first 3D video game platforms.
In addition to Jules Urbach, the Render team includes :

• Kalin Stoyanchev, blockchain manager;
• Charlie Wallace, CTO;
• Phillip Gara, Strategy Director;
• Jayson Kleinman, Project Manager;
• Padi Frigg, Product Manager;
• Matthew McClure, blockchain developer;
• Tim Maclean, developer ;
• Daniel Torres, Developer.

The Render team can also call on world-renowned advisors made up of industry leaders such as :

• Ari Emmanuel (co-founder and co-CEO, WME);
• JJ Abrams (President and CEO, Bad Robot Productions);
• Mike Winkelmann (NFT Beeple artist);
• Brendan Eich (Founder and CEO, Brave Software and BAT);
• Demian Brener (Co-founder and CEO, Zeppelin Solutions)
• Manuel Araoz (CTO, Zeppelin Solutions)
• David Vorick (Co-founder and CEO, SIA.tech)
• Jennifer Zhu Scott (Director at Radian and board member at the WEF, the World Economic Forum).

The Render Network works in two main ways.
Firstly, there are the creators, who are the people who submit projects to the network.
Then there are the node operators, who take care of processing the project in question.
These node operators have a “reputation” on the network based on their past work.
In concrete terms, if the operator succeeds in his project, he earns points.
If they fail, they lose points.
The higher his reputation, the more money he earns (RENDER tokens) if he succeeds in his task.
Reputation is therefore used to rank node operators according to their competence, and to assign them a reward level.
The architecture of the Render network comprises two levels:

• off-chain, which brings together the creators and operators of GPU nodes participating in the peer-to-peer network;
• on-chain system that manages transactions (RENDER token payments) via smart contracts.

In the case of a simple task (creating a very high-quality image, for example), the process comprises the following actions:

• Creation.
  Designers upload their project to OctaneRender, providing the desired parameters such as image definition, file format, sampling rate, etc. Designers can also define the priority of their project and the desired level of service.
  Designers can also define the priority of their project and the desired level of service.
  This will condition the choice of node operators who will work on the project.
• Uploading.
  The project is then uploaded to OctaneRender.
• Partitioning.
  This stage involves dividing the creator’s files into smaller units for distribution over the network.
• Allocation.
  The Render network assigns project units to different network operators.
  Allocation is based on the creators’ wishes and the reputation of the node operators.
• Implementation.
  Node operators execute their task on OctaneRender.
  When finished, they publish a proof of work to Render Network to inform the network.
• Control.
  This stage is carried out by the project’s creators.
  They can monitor progress in real time.
  They can report problems or questionable behavior at any time.
• Payment.
  Node operators are paid in RENDER tokens.
  During the project, the tokens are blocked.
  At the end of the project, the creator releases these tokens by validating the work if he or she is satisfied with the result.
  Once payment has been made, the designer can download the file.

Project partitioning and service levels use a special unit of measurement called the OctaneBench.
Like hashrate with crypto mining, OctaneBench is expressed as a function of time in OBh or OctaneBench per hour.
By way of comparison, 200 OBh is equivalent to the power of an Nvidia RTX 2070 graphics card for one hour.
When designers define their project, they can set a level of attention such as :

• Tier 1 – Trusted.
  This is the highest level, but also the most expensive, at €2 for 200 OBh.
  It is not yet available.
• Tier 2 – Priority.
  This level offers higher priority in the queue than tier 3.
  Node operators use higher powers and faster average speeds than in Tier 3.
  Its price is higher than tier 3, at €0.5 for 200 OBh.

Tier 3 – Economy.
This is the basic and cheapest level, with €0.25 for 200 OBh.

RENDER is the native token for the Render Network platform.
It fulfills the classic roles of a utility token, enabling :

• Pay node operators for work commissioned by content creators.
  Payment takes into account the level of priority requested, as well as the reputation of the node operators involved in the project.
  RENDER credits are issued in fiat currency (e.g. euros) and are backed by RENDER tokens.
  With these credits, the designer can pay for work in fiat currency (such as the euro).
  These credits are then reconverted into RENDER tokens to pay the node operators.

• Participate in the governance of the Render DAO.
  Via the Snapshot platform, RENDER token holders can take part in votes or make proposals concerning the operation of the Render protocol.

Rewarding users.
People who “lend” their GPU graphics power on the Render platform receive RENDER tokens.

At the time of writing, the Render project has completed three fundraisings.
A first took place on October 1, 2017, with 117,843,239 RENDER tokens selling at a unit price of $0.25.
The second fundraising took place between January 1 and May 1, 2018. 117,843,239 RENDER tokens were distributed at a unit price of $0.25.
Finally, the third fundraising event took place on December 21, 2021.
At the start of the project, the total number of Render tokens was capped at 2,147,483,648 or 2 power 31.
In March 2018, the team decided to reduce the number of tokens from 2 power 31 to 2 power 29 or 536,870,912 RENDER.
At the time, the team stated that this figure was derived from an analysis of supply and demand over the next 10 to 12 years.
The difference between the two token caps (i.e. 1,610,612,736 RENDER tokens) has been burned (withdrawn from circulation) since July 2020.
There are currently 387,352,418 RENDER tokens in circulation.
This means that over 72% of tokens have already been put on the market.

• Partnerships with 3D creation platforms: Render collaborates with industry-leading software such as Blender and Unreal Engine to integrate its decentralized rendering technology.
  This enables artists to render their 3D projects faster and more cost-effectively, using the collective power of the Render network.
• Development of the Render Network platform: Render plans to enhance its infrastructure to enable real-time rendering of complex scenes, which is essential for the film and video game industries.
  This initiative aims to offer production studios a decentralized, scalable alternative to traditional rendering solutions.
• Expanding into metavers: Render is investing in the development of specific tools for metavers, enabling content creators to use the power of the Render network to build more immersive virtual environments.
  Collaborations with metaverse projects such as Decentraland are also envisaged.
• Green initiatives: Render is committed to optimizing the energy efficiency of its network.
  By 2024, the focus will be on using renewable energy sources to power the network’s compute nodes, thereby reducing the carbon footprint associated with 3D rendering.

Render is an innovative platform that ‘s right on target.
With its peer-to-peer network, Render enables users toexchange GPU graphics power for high-quality 3D rendering.
The platform provides a concrete response to the dizzying increase in the need for GPU graphics power.
Render has the advantage of showing how decentralization via blockchain fits in perfectly with Web 3 and the new challenges it presents.
The RENDER token is at the heart of the project.
As well as acting as a native token, it transparently remunerates node operators and encourages users to share their GPU power.
With Render credits, the platform even opens the door to people who are not yet familiar with cryptocurrency.
With its integration with OctaneRender, the platform is built on a solid architecture.
Its ecosystem is in full development , and already includes numerous node creators and operators.
The project has applications in most fields associated with images and video.
It has also recently opened up to the field of Artificial Intelligence (AI).
In fact, Render is now often regarded as one of the leading AI cryptos on the market.
In recent months, the price of the RENDER token has benefited from its proximity to AI, surging by over 250% in one year.
To support its growth, the Render team has finalized its migration to Solana, a faster blockchain.