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What is Render Network – Rendering, History, Tokenomics and Render Credits

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The digital age is having an ever-bigger impact on every aspect of the human life. From interaction, work, communication, leisure or education, the presence of digital information in our lives is undeniable.

However, with almost everything happening online, the requirements of whole processes running the digital systems are changing under the weight of more and more information or data coming online. The cryptocurrency that we will introduce today helps solve a very niche problem –  the increasing demands of the online world.

What is rendering?

But before we do that, we need to at least partially explain what rendering is, as it is going to be a main talking point of today’s analysis. Rendering, also known as image synthesis, is the process of generating a photorealistic image from a 2D or 3D model through the usage of computer programmes. The image is then referred to as the render.

It is thus a process of generating the end-product of a digital form from a specific type of an input. This can be applied not only to videos or images, which are probably the most common types of rendering, but also to sounds.

What is Render Network?

The short introduction to rendering should come handy, as the examined token in this analysis is Render Network (RNDR). Render Network is a leading provider of decentralized GPU power that specifies in rendering solutions with the goal of revolutionising the digital creation process.

It does this thanks to the creation of a connection between users looking to perform a rendering process, with the people who have idle GPUs (graphics processing units) to process those renders. The whole ecosystem is built on the Ethereum blockchain and is powered by RNDR token, which works mostly like a medium of exchange and will be described in more-depth later on.

Render Network is thus enabling a peer-to-peer (P2P) network for individuals to contribute their unused GPU for those, who need to render motion graphics and visual effects, while earning RNDR for this service. This simplifies the standard processes of rendering and streaming 3D environments for everyone and can lead to be a crucial building block for services in Metaverse or next-generation digital products.

It is however important to note that Render Network is closely connected to OTOY Inc., which is a graphics software company that was created by Jules Urbach, who is also a creator of Render Network. OTOY also developed a rendering application OctaneRender, which is essential to Render Network.

History of Render Network

Compared to many cryptocurrencies out there, Render Network has a relatively long history. Being launched by Jules Urbach in 2016 in Los Angeles, Render Network has spread around the world and is growing sustainably. For instance, in October of 2017 it had its own ICO, with the $0.25 price of the RNDR token.

In March of 2018, it fixed the total supply of the token to be more than 536 million RNDR and began its migration. Following that, in 2019, Render Network moved from Ropsten testnet to Ethereum mainnet, with the main product being ready only a year later, in April 2020.

How does Render Network work?

To look at Render Network in more detail, we need to specify a few different entities that are connected to the network. First are the Owners, also known as Node Operators, who are willing to connect their GPUs to the Render Network. Thanks to this, they receive and complete rendering jobs using OctaneRender, which then also helps them to receive fees for their services. In exchange for the GPU power they provide, they receive RNDR tokens as a reward.

Next are Users, also known as Creators, who have a rendering job for submission. Once they submit it on RNDR, it is paired with the Owners thanks to smart contracts and blockchain technology that Render Network uses. The Owners then receive their fee upon completion of the task straight from the smart contract. Render Network takes a small percentage cut in the process for the facilitation of the transaction as well as running the network.

How does Render Network work?, Source-

This can have a relatively interesting use case for the Metaverse, which is starting to rely heavily on motion graphics and 3D visual effects. The 3D rendering is thought of as one of the most complicated processes in the visualisation and creation of not only the Metaverse, but also animated movies or games. That is where Render Network can help satiate the demand for rendering and GPU power. The same can be applied also to VR environments.

Thanks to this, Render Network essentially solves three problems at once:

  • Scalability – since Render’s decentralized network relies on an automated reputation and job assignment system, the GPU of the rendering network is scalable, which means that it can meet Creators’ demands.
  • Optionality – to give the best service for everyone, Render Network allows its users to set several options about them commissioning a job or farming out their excess GPU power.
  • IP protection – Render Network leverages the blockchain technology to protect the rights of its users through the entire development, while using encryption or OctaneRender-based service completion and scoring in the process.

How to use Render Network?

The whole process of using the Render Network has six very simple steps, which can be described as follows:

  1. Creating a job – the creator defines key parameters of the rendering process such as graphic resolution, sample size or output format while submitting their job in ORBX file format to OctaneRender.
  2. Uploading a job – once submitted, the assets are split into files that are hashed and encrypted, leading to creation of a smart contract and broadcasting of the relevant details across the network.
  3. Assigning a job – the protocol automatically assigns Node Operators to suitable jobs. This can be for instance based on the reputation scores, Operator’s capacities or Creator’s specifications.
  4. Completing a job – Node Operators then process each assigned job via OctaneRender, finishing their computational task which is tied to their unique identifier.
  5. Verifying deliverables – the creators of the task have the ability to watch the whole rendering process and flag or highlight any discrepancies or abnormalities, before the job is actually done. After they are resolved, the Creators pay for the work.
  6. Completing the payment – from the very first step, RNDR tokens are held in escrow as a security check. After the Creators verify the satisfactory level of the completed task, they gain the ability to download and share the render. The tokens are then released to Node Operators, with Render Network receiving a small fee that ranges from 0.5 – 5 % based on the GPU supply and demand levels.

All of these steps are automated, which means that Render Network not only works as a P2P marketplace, but also fully decentralized protocol that does not favour any single job over another or any Node Operator over someone else. Everything depends on the demands of the Creators and the supply and specific of GPU power given by Node Operators.

Tokenomics and Render Credits

As mentioned at the beginning, Render Network has a RNDR token that is built on top of Ethereum as an ERC- 20 utility token. The overall supply of it is 536,870,912 RNDR, with ICO taking place in October 2017, followed by a private sale between January 2018 to May 2018. Overall, 25% of RNDR was sold to the public, 10% was allocated to RNDR Reserve and over 65% is still in escrow to help modulate the demand and supply dynamics, but those are slowly released to the markets.

While Render Network does not exhibit exhilarating numbers, it is doing pretty well. With a daily volume of about 6 million dollars and a market cap of around 280 million dollars, the project is holding its ground even in this raging bear market.

Most essential trading data of Render Network, Source-

About 47% of the tokens are already in the circulating supply. However, that does not mean that they provide the only way of using Render Network, as the project decided to introduce an interesting feature for non-technical users called RNDR Credits.

RNDR Credits are a way to use Render Network without the need of using RNDR. The Render Network’s portal allows for purchase of these credits via PayPal or Stripe. These are only usable on the network.

When the user or customer purchases the RNDR Credits, the RNDR team backs them by purchasing the same amount on an exchange, meaning the Node Operators are always compensated in RNDR tokens. This also means that anyone who is not familiar with cryptocurrencies or who wants to try these services first, can do this without the need of purchasing RNDR tokens.


While Render Network has been around for several years, it is a rather lesser-known project. That might be due to its very specific and niche direction, which is decentralized GPU rendering power. Yet, it seems that in this small sub-sector, Render Network is well-placed and has a lot of experience and knowledge, which can help with its growth.

In the future, Render Network can help several industries such as the Metaverse or VR, making it a more long-term bet, which however, needs to improve and develop its services to make it more user friendly. 

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