What is Render Network (RENDER)?

Render Network is a decentralised rendering platform that connects users in need of additional graphics processing unit (GPU) power with those who have idle or rarely used GPUs. GPUs are essential components used in various devices to generate images and graphics for a wide range of applications, including video games, video and graphics editing to data visualisation.

GPUs also play a crucial role in the mining of cryptocurrencies that rely on proof of work consensus mechanisms. However, they often go under-utilised because most people don’t consistently require their computers to process complex graphics for tasks such as gaming or video editing.

Who created the Render Network?

Render Network was founded by Yaniv Tal, Brandon Ramirez and Jannis Pohlmann in 2017. The three of them envisioned a decentralised rendering platform that could harness the untapped GPU power of idle or rarely used devices to fulfil the rendering needs of creators. Their expertise in blockchain technology, computer graphics and decentralised systems came together to create Render Network and offer a decentralised solution for GPU rendering solutions.

How does Render Network work?

Render Network connects computers with available GPU power to creators requiring rendering services. It serves as a matchmaking platform where users post rendering tasks on Render, and allocate RENDER, the network's native cryptocurrency, based on the complexity of their jobs. These tasks can range from complex 3D-animations to high-resolution graphics.

Once a job is submitted, the network distributes the workload among available GPU suppliers. Factors such as GPU model, capability and location are considered in this allocation process. The Render network then uses an algorithm to ensure tasks are assigned to suitable GPU suppliers. Selected GPU providers are tasked with processing the assigned rendering tasks and generating the required output. A trustless validation system verifies the rendered output’s accuracy and integrity.

After the rendering process is successfully completed and verified, content creators pay providers in RENDER. The distribution of rewards is determined by the complexity of the tasks and the resources provided, encouraging active involvement and establishing a fair compensation framework.

What is Render Network’s native cryptocurrency?

The native cryptocurrency of the Render Network is RENDER. In the Render Network, GPU providers receive RENDER as rewards for processing rendering tasks. The source of these rewards is from the fees that users pay when submitting rendering tasks. This process is similar to how Bitcoin miners receive block rewards for validating transactions. Just as Bitcoin miners compete to validate transactions and add them to the blockchain, GPU providers in the Render Network compete to process rendering tasks efficiently and accurately, but in Render’s case Node Operators use their computational power to complete complex rendering services instead of solving puzzles.

RENDER is also central to the network’s governance process, allowing token holders to vote on proposals that shape the future of the network. This governance model played a key role in 2023, when the community voted to migrate Render Network from Ethereum to Solana. The migration, completed in May 2023, was driven by a need for increased scalability, lower transaction costs, and faster processing speeds, which Solana’s architecture offers. The transition included token-swapping mechanisms to ensure a smooth migration, enabling RENDER to continue as the currency for task fees and governance on the Solana blockchain.