What is Render Network? Render Network is a platform that allows users to share their idle GPUs so that others can rent them for personal use. So, if there’s anything interesting about Render Network, let’s find out together in the article below.
To better understand Render Network, people can refer to some of the articles below:
- What is DePIN? All About DePIN Trends
Render Network Overview
What is Render Network?
Render Network is a platform that allows users to share their idle GPU (short for Graphics Processing Unit) with other users for the purpose of rendering their products such as 3D effects movies, graphics. ,… Besides, Render Network is also applied to many different fields such as AR/VR (virtual reality and augmented virtual reality), DApps, Medicine,…
Users who participate in GPU sharing will receive rewards from RNDR – Render Network’s Native Token paid from tenants.
During its early development, Render Network was built on Ethereum. However, due to problems with transaction speed and transaction fees, Render Network decided to switch to Solana, information was announced during the Solana Break Point 2023 event.
Mechanism of action
Render Network works through a number of simple steps as follows:
- Step 1: The user will create a request by submitting his or her product that needs to be rendered so that the platform can identify the user’s product.
- Step 2: Users will buy RNDR to deposit into the smart contract provided by Render Network after receiving a quote from Render Network.
- Step 3: Render Network will search for a suitable GPU source.
- Step 4: After the job is completed, the user will receive the results to evaluate the work results of the GPU renters to see if they meet their needs or not?
- Step 5: The user will receive the original image and the GPU renter will receive the RNDR.
Development Roadmap
Update…
Investor
- December 21, 2021: Render Network successfully raised $30M led by Multicoin Capital, with participation from Solana Ventures and Alameda Research.
Core Team
Render Network’s development team is based in the Cayman Islands.
Tokenomics
Information about Render Network tokens
- Project name: Render Network
- Code: RNDR
- Token classification: ERC 20
- Blockchain: Ethereum
- Smartcontract:0x6de037ef9ad2725eb40118bb1702ebb27e4aeb24
- Total supply: 536,870,912
Token Allocation
- RNDR Phases: 40%
- Unforseen Roadblocks: 5%
- Growth: 25%
- Marketing: 20%
- Partner: 10%
Token Release
Update…
Token Use Case
Some of the use cases of RNDR include:
- Rewards for GPU rental participants.
- Transaction fees on the Render Network platform.
- Participate in network administration.
Exchanges
Currently, users can trade RNDR on a number of exchanges such as Binance, Coinbase, OKX, Kucoin,…
Project Information Channel
Summary
Render Network is one of the next projects to join the dePIN segment and has enormous potential in the future.
Hopefully through this article everyone can understand more about Render Network
