Render Network is a decentralized platform that leverages blockchain technology to provide efficient and accessible rendering services.
The platform utilizes unused GPU cycles to connect content creators who need computing power with GPU providers who have excess computing power. By utilizing these idle GPUs, the project achieves more efficient resource utilization, allowing creators to Cost-effective way to access GPU resources. Additionally, the Render Network connects compute-intensive artists by leveraging underutilized GPUs in blockchain mining, as well as GPUs used inefficiently by artists during non-rendering periods, to support everything from major TV shows to large-scale graphics. creation. Simplifies the process of rendering and streaming virtual content, making it easier for users to interact with immersive 3D environments, models and objects. By operating on the Ethereum blockchain, Render leverages smart contracts to build a decentralized rendering service ecosystem, with its native token RNDR token used as the transaction currency in the platform. RNDR token is the native utility token of Render Network, based on the ERC-20 standard of the Ethereum blockchain. This token plays a key role in the Render Network, making it a decentralized rendering platform that allows transactions and resource sharing between content creators and GPU providers.
Render Network’s workflow is designed to optimize and simplify the 3D rendering process and utilize distributed computing resources. This process not only increases rendering efficiency, but also reduces costs and provides high-quality rendering results.
The following is a step-by-step analysis of the detailed workflow of Render Network:
(1) Create and submit tasksContent creators (such as animators, game developers or filmmakers) first need to define their rendering needs on the Render Network platform. Their submissions include 3D models, scene files, and specific requirements for rendering such as resolution, format, and expected delivery time. This information is encapsulated in a task request and published to the blockchain through smart contracts.
(2) Task pricingOnce a task is submitted to the network, Render’s dynamic pricing system determines the price based on the complexity of the task, the computing resources required, and the urgency of the task. This price reflects the market’s supply and demand status and currently available GPU resources.
(3) Task allocationTask allocation is done through Render’s advanced matching algorithm, which evaluates all free GPU resources. This process includes analyzing each GPU provider’s hardware performance, availability, and previous task completion record. The system automatically selects the most appropriate GPU resources to perform tasks to ensure the highest efficiency and output quality.
(4) Rendering executionOnce a task is assigned to one or more GPU providers, the rendering process begins. The GPU provider’s computer begins processing the data, performing the required rendering operations. This may include complex calculations such as ray tracing, texture mapping, shadow generation, etc.
(5) Progress and monitoringDuring task execution, Render Network provides real-time monitoring and progress updates, allowing content creators to track the status of their tasks. This process is enabled via blockchain, ensuring all activities are transparent and verifiable.(6) Result verificationAfter rendering is complete, the resulting image or video needs to be verified. Render Network uses decentralized verification mechanisms, such as “Proof of Render”, to ensure that the results comply with the initial task specifications. This includes checking image quality, completeness and any possible errors.
(7) Document delivery and payment settlementOnce the rendered output is verified to be correct, the file is securely delivered to the content creator. At the same time, a smart contract-based payment system automatically processes transactions, ensuring that GPU providers are compensated with their RNDR tokens. These transactions are recorded on the blockchain, ensuring their immutability and traceability.
(8) Feedback and ratingsOnce the task is completed, content creators can rate the GPU provider’s services. This feedback mechanism helps maintain and improve the overall service quality and trust of the network. This workflow not only improves the accessibility and affordability of 3D rendering projects, but also optimizes the use of resources, making high-quality rendering services affordable even for creators with limited resources. This decentralized approach also brings greater transparency and security, allowing all parties involved to benefit from it.
The Render Token (RNDR) of the RNDR token is an ERC-20-based token mainly used for transactions between artists and GPU suppliers within the platform. Users use RNDR tokens to obtain GPU computing power, while node operators earn tokens by providing resources. Render and its CEO (Anurag Goel) say RNDR is “the first network to transform GPU computing power into a decentralized economy of connected 3D assets.”
Balance (BME)Burn and Mint Equilibrium (BME) is a token economics model for the RNDR token. According to the project, this is to create more value for the token by providing better pricing and remittance arrangements for creators and node operators. According to this model, the network costs the work in dollars. Creators will be required to burn an RNDR equal to that dollar value in order to create jobs on the network. Creators who do not hold RNDR tokens will need to purchase the token to create work, creating continued demand for RNDR tokens.
Once a job is created, the node operator processing the job will be rewarded with RNDR tokens. The network mints RNDR every epoch. For each epoch, it calculates the jobs processed by each node operator and the percentage processed. 90% of the RNDR tokens minted each epoch are used for node operator rewards, with the remainder allocated to availability rewards. Node operators are rewarded based on workflow and completed uptime challenges (also known as availability). Part of the availability reward is also used to incentivize creators to create work on the rendering network. This mechanism adjusts emissions based on the demand conditions of the network.
As of now, the market price of RNDR token is $8.60. In the past 24 hours, the price of RNDR token has increased by 17.42%. The market capitalization is $3,282,880,123, ranking 31st among all cryptocurrencies.
Some benefits that Render Network brings to the field of GPU processing:
Render Network’s GPU processing power can be rented for a variety of applications, from film and game development to artificial intelligence. Render Network supports use cases beyond those outlined below, including physical and mathematical simulations or project mapping.
Movies, games and other media:Film and game development require high-quality graphics, and creators in this field can benefit from a scalable supply of GPU power to bring their visions to reality. Artist and 3D motion designer Raoul Marks uses Render Network to create title sequences for shows like Westworld Season 4.
Artificial Intelligence (AI):On July 11, 2023, Render Network shared plans to support AI and machine learning tasks (jobs); this integration will allow node operators on the network to undertake the rendering of AI-generated graphics and prototypes. Because generating images is computationally demanding, Render Network’s ready-to-use GPUs allow these applications to render high-quality images at a lower cost.
Architecture and product design:Architects and product designers can also leverage Rendering Network to develop high-quality 3D visualizations of their designs. Product designers can prototype at scale and test textures and colors with parallel GPU rendering, while architects can create immersive virtual reality architectural renderings.
Render was founded in 2017 by Jules Urbach. Previously, Urbach also founded cloud graphics company OTOY, whose products have been used by filmmakers to create movies, by developers to create video games, and by people on the cutting edge of virtual reality and metaverse technologies. OTOY is backed by major studios including Disney and HBO. Render has been operated by OTOY since its inception and is designed as a blockchain-based solution, reflecting its centralized, cloud-based offering. However, in January 2023, the newly formed Render Network Foundation announced that it would take over the strategic management of the project and coordinate its community. OTOY, along with other backers such as Swatchbook and MR Studios, will remain involved in engineering, development and other services. Another important member of the team is Ari Emmanuel. Currently, Emmanuel is the co-founder and co-CEO of the project. Render currently has established strategic partnerships with a number of industry giants. Most notably, its partnership with Nvidia. This is significant considering Nvidia’s position in the GPU and gaming markets. This partnership may involve technology collaboration, integration of Nvidia technology or joint marketing efforts.
Render has raised significant funding to date, including a $50 million Series B round led by Bessemer Venture Partners. The funding is intended to expand its product suite for large software teams and accelerate migration from legacy platforms. Such a large amount of funding demonstrates investors’ confidence in Render’s business model and future growth prospects.
The future development of the Render network can be analyzed from the market demand for the services it provides, technological progress, and industry trends. The following are the challenges and opportunities that the Render Network may face:
Overall, Render Network is in a rapidly developing market with broad room for growth. However, in order to seize these opportunities, Render Network must overcome issues including technical challenges, market acceptance, and regulatory compliance. As the market matures and technology develops, the Render Network may need to continuously adjust its strategies and services to meet changing needs.
This article is reproduced from [Waiter in the teahouse], the copyright belongs to the original author [chain teahouse], if you have any objection to the reprint, please contact Gate Learn Team, the team will handle it as soon as possible according to relevant procedures.
Disclaimer: The views and opinions expressed in this article represent only the author’s personal views and do not constitute any investment advice.
Other language versions of the article are translated by the Gate Learn team and are not mentioned in Gate.io, the translated article may not be reproduced, distributed or plagiarized.
Render Network is a decentralized platform that leverages blockchain technology to provide efficient and accessible rendering services.
The platform utilizes unused GPU cycles to connect content creators who need computing power with GPU providers who have excess computing power. By utilizing these idle GPUs, the project achieves more efficient resource utilization, allowing creators to Cost-effective way to access GPU resources. Additionally, the Render Network connects compute-intensive artists by leveraging underutilized GPUs in blockchain mining, as well as GPUs used inefficiently by artists during non-rendering periods, to support everything from major TV shows to large-scale graphics. creation. Simplifies the process of rendering and streaming virtual content, making it easier for users to interact with immersive 3D environments, models and objects. By operating on the Ethereum blockchain, Render leverages smart contracts to build a decentralized rendering service ecosystem, with its native token RNDR token used as the transaction currency in the platform. RNDR token is the native utility token of Render Network, based on the ERC-20 standard of the Ethereum blockchain. This token plays a key role in the Render Network, making it a decentralized rendering platform that allows transactions and resource sharing between content creators and GPU providers.
Render Network’s workflow is designed to optimize and simplify the 3D rendering process and utilize distributed computing resources. This process not only increases rendering efficiency, but also reduces costs and provides high-quality rendering results.
The following is a step-by-step analysis of the detailed workflow of Render Network:
(1) Create and submit tasksContent creators (such as animators, game developers or filmmakers) first need to define their rendering needs on the Render Network platform. Their submissions include 3D models, scene files, and specific requirements for rendering such as resolution, format, and expected delivery time. This information is encapsulated in a task request and published to the blockchain through smart contracts.
(2) Task pricingOnce a task is submitted to the network, Render’s dynamic pricing system determines the price based on the complexity of the task, the computing resources required, and the urgency of the task. This price reflects the market’s supply and demand status and currently available GPU resources.
(3) Task allocationTask allocation is done through Render’s advanced matching algorithm, which evaluates all free GPU resources. This process includes analyzing each GPU provider’s hardware performance, availability, and previous task completion record. The system automatically selects the most appropriate GPU resources to perform tasks to ensure the highest efficiency and output quality.
(4) Rendering executionOnce a task is assigned to one or more GPU providers, the rendering process begins. The GPU provider’s computer begins processing the data, performing the required rendering operations. This may include complex calculations such as ray tracing, texture mapping, shadow generation, etc.
(5) Progress and monitoringDuring task execution, Render Network provides real-time monitoring and progress updates, allowing content creators to track the status of their tasks. This process is enabled via blockchain, ensuring all activities are transparent and verifiable.(6) Result verificationAfter rendering is complete, the resulting image or video needs to be verified. Render Network uses decentralized verification mechanisms, such as “Proof of Render”, to ensure that the results comply with the initial task specifications. This includes checking image quality, completeness and any possible errors.
(7) Document delivery and payment settlementOnce the rendered output is verified to be correct, the file is securely delivered to the content creator. At the same time, a smart contract-based payment system automatically processes transactions, ensuring that GPU providers are compensated with their RNDR tokens. These transactions are recorded on the blockchain, ensuring their immutability and traceability.
(8) Feedback and ratingsOnce the task is completed, content creators can rate the GPU provider’s services. This feedback mechanism helps maintain and improve the overall service quality and trust of the network. This workflow not only improves the accessibility and affordability of 3D rendering projects, but also optimizes the use of resources, making high-quality rendering services affordable even for creators with limited resources. This decentralized approach also brings greater transparency and security, allowing all parties involved to benefit from it.
The Render Token (RNDR) of the RNDR token is an ERC-20-based token mainly used for transactions between artists and GPU suppliers within the platform. Users use RNDR tokens to obtain GPU computing power, while node operators earn tokens by providing resources. Render and its CEO (Anurag Goel) say RNDR is “the first network to transform GPU computing power into a decentralized economy of connected 3D assets.”
Balance (BME)Burn and Mint Equilibrium (BME) is a token economics model for the RNDR token. According to the project, this is to create more value for the token by providing better pricing and remittance arrangements for creators and node operators. According to this model, the network costs the work in dollars. Creators will be required to burn an RNDR equal to that dollar value in order to create jobs on the network. Creators who do not hold RNDR tokens will need to purchase the token to create work, creating continued demand for RNDR tokens.
Once a job is created, the node operator processing the job will be rewarded with RNDR tokens. The network mints RNDR every epoch. For each epoch, it calculates the jobs processed by each node operator and the percentage processed. 90% of the RNDR tokens minted each epoch are used for node operator rewards, with the remainder allocated to availability rewards. Node operators are rewarded based on workflow and completed uptime challenges (also known as availability). Part of the availability reward is also used to incentivize creators to create work on the rendering network. This mechanism adjusts emissions based on the demand conditions of the network.
As of now, the market price of RNDR token is $8.60. In the past 24 hours, the price of RNDR token has increased by 17.42%. The market capitalization is $3,282,880,123, ranking 31st among all cryptocurrencies.
Some benefits that Render Network brings to the field of GPU processing:
Render Network’s GPU processing power can be rented for a variety of applications, from film and game development to artificial intelligence. Render Network supports use cases beyond those outlined below, including physical and mathematical simulations or project mapping.
Movies, games and other media:Film and game development require high-quality graphics, and creators in this field can benefit from a scalable supply of GPU power to bring their visions to reality. Artist and 3D motion designer Raoul Marks uses Render Network to create title sequences for shows like Westworld Season 4.
Artificial Intelligence (AI):On July 11, 2023, Render Network shared plans to support AI and machine learning tasks (jobs); this integration will allow node operators on the network to undertake the rendering of AI-generated graphics and prototypes. Because generating images is computationally demanding, Render Network’s ready-to-use GPUs allow these applications to render high-quality images at a lower cost.
Architecture and product design:Architects and product designers can also leverage Rendering Network to develop high-quality 3D visualizations of their designs. Product designers can prototype at scale and test textures and colors with parallel GPU rendering, while architects can create immersive virtual reality architectural renderings.
Render was founded in 2017 by Jules Urbach. Previously, Urbach also founded cloud graphics company OTOY, whose products have been used by filmmakers to create movies, by developers to create video games, and by people on the cutting edge of virtual reality and metaverse technologies. OTOY is backed by major studios including Disney and HBO. Render has been operated by OTOY since its inception and is designed as a blockchain-based solution, reflecting its centralized, cloud-based offering. However, in January 2023, the newly formed Render Network Foundation announced that it would take over the strategic management of the project and coordinate its community. OTOY, along with other backers such as Swatchbook and MR Studios, will remain involved in engineering, development and other services. Another important member of the team is Ari Emmanuel. Currently, Emmanuel is the co-founder and co-CEO of the project. Render currently has established strategic partnerships with a number of industry giants. Most notably, its partnership with Nvidia. This is significant considering Nvidia’s position in the GPU and gaming markets. This partnership may involve technology collaboration, integration of Nvidia technology or joint marketing efforts.
Render has raised significant funding to date, including a $50 million Series B round led by Bessemer Venture Partners. The funding is intended to expand its product suite for large software teams and accelerate migration from legacy platforms. Such a large amount of funding demonstrates investors’ confidence in Render’s business model and future growth prospects.
The future development of the Render network can be analyzed from the market demand for the services it provides, technological progress, and industry trends. The following are the challenges and opportunities that the Render Network may face:
Overall, Render Network is in a rapidly developing market with broad room for growth. However, in order to seize these opportunities, Render Network must overcome issues including technical challenges, market acceptance, and regulatory compliance. As the market matures and technology develops, the Render Network may need to continuously adjust its strategies and services to meet changing needs.
This article is reproduced from [Waiter in the teahouse], the copyright belongs to the original author [chain teahouse], if you have any objection to the reprint, please contact Gate Learn Team, the team will handle it as soon as possible according to relevant procedures.
Disclaimer: The views and opinions expressed in this article represent only the author’s personal views and do not constitute any investment advice.
Other language versions of the article are translated by the Gate Learn team and are not mentioned in Gate.io, the translated article may not be reproduced, distributed or plagiarized.