Render Network is a distributed GPU rendering network built on top of the Ethereum blockchain. As stated in the whitepaper^[5] of Render Token, rendering refers to transforming a 2D or 3D computer model into a realistic image and scene. ^[1][2][3][4]

History

Render Token was founded by Jules Urbach in 2016. Urbach is the CEO of OTOY Inc., a cloud-rendering company and the parent company of Render Network. The whitepaper^[5] of Render Token was published on August 28, 2017. ^[1][4]

Ari Emanuel is the CEO of Endeavor, J.J. Abrams is the chairman and CEO of Bad Robot Productions, Brendan Eich is the Founder and CEO of Brave Software & BAT and they are advisors on the RNDR Board. ^[6][7]

Render Network

Render Network is a blockchain-based platform designed for the 3D rendering industry. It utilizes decentralized computing power to offer a solution for processing complex 3D graphics and animations. By leveraging a distributed network of computers, Render Network aims to improve the efficiency and affordability of rendering tasks compared to traditional centralized rendering farms. ^[1]

The platform operates on the Ethereum blockchain, utilizing smart contracts for transparent transactions. Render Network allows artists, designers, and content creators to submit rendering jobs for processing by the decentralized network. This approach provides access to high-quality rendering for a broader range of users. ^[1]

Technology

The Ethereum blockchain serves as the foundation for the RNDR ecosystem. This enables RNDR Token holders to keep their tokens in any ERC-20-compliant wallet. The tokens may be exchanged on any ERC-20-compliant exchange. ^[5][6]

On the RNDR Network, users submit tasks to the community. The platform automatically calculates the required amount of RNDR Tokens to complete the task. This information is provided as an attachment, which contains the specifications of a smart contract. The data is then transmitted through the RNDR Network. ^[5][6]

GPU owners use OctaneRender to perform necessary tasks. OctaneRender employs RNDR to spread the foundation of the current rendering service, and the entire procedure removes the middleman. Users can send RNDR Tokens to the individuals performing the render work. The tokens may also be used to transmit value worldwide, and every RNDR Token transaction incurs a modest percentage fee, which is used to fund RNDR Network’s future growth and operation. ^[6]

RNDR Token

RNDR is an ERC-20 utility token used by artists on the network to exchange GPU compute power from GPU providers (node operators). RNDR utilizes a combination of manual and automatic proof-of-work system or proof-of-render, in order to verify all art has been successfully rendered prior to payment disbursal and art release. ^[3][4]

The initial coin offering (ICO) took place from 6 October to 12 October 2017. During that period, a total of 4,650,922 RNDR Tokens were sold at a price of US$0.25 per token. The team stated in March 2018 that the total issued tokens in the ecosystem would be 536,870,912, and the contract migration procedure began with a 1:1 migration ratio between old and new contracts. ^[6]

The Genesis mainnet release took place on 24 June 2019, when the project was moved from the Ropsten testnet to the Ethereum mainnet and beyond. The team then announced a purchase plan of 4.5 million RNDR Tokens on the Probit exchange in March 2020, taking advantage of market conditions at the time. The final product was available in April 2020. ^[6]

Render Network Foundation

On January 20, 2023, the Render Team announced the Render Network Foundation, a not-for-profit dedicated to maintaining the core Render Network protocol and growing its community and ecosystem. ^[8]

As part of the creation of the Foundation, the founding group transferred control of the core Render Network repos and the Render Network brand to the Foundation, a major step in decentralization and putting governance and control in the hands of the community. ^[8]

The Render Network Foundation’s core role and responsibility in the ecosystem is primarily facilitating the Render Network Proposal (RNP) system announced^[9] in June 2022. The Foundation is also responsible for helping to set the strategic priorities of the network and issuing grants to support them. ^[8]