🛑Render Network: A Deep Dive

@rendernetwork is a peer-to-peer (P2P) marketplace that connects users needing rendering power with devices possessing idle GPUs. But how did it come to be, and how does it work?

Here's a breakdown of its key aspects⬇️

1/ Origin Story: Founded in 2017 by Jules Urbach, Render was initially built on Ethereum to democratize mixed reality experiences and more. Urbach's experience with OTOY paved the way for Render's development.

2/ Core Functionality: Render facilitates connections between "creators" with rendering tasks and "node operators" with idle GPUs. Creators submit jobs with a deposit of RNDR tokens, the network's native token.

Based on factors like reputation, jobs are assigned to node operators for completion and then delivered back to the creator for approval.

3/ Burn and Mint Equilibrium (2023): This mechanism introduced fiat pricing for jobs. When a job is paid for in fiat, 95% of the equivalent value in RNDR tokens is burned, reducing overall supply. The remaining 5% goes towards network development.

4/ RNDR Token Utility: RNDR serves two primary functions within the network:

• Payment: Used to pay for rendering jobs on the Render Network.

• Governance: Holders can participate in Decentralized Autonomous Organization (DAO) voting to influence network decisions.

5/ Tokenomics: Initially launched as an ERC-20 token on the Ethereum blockchain, RNDR has a theoretical maximum supply of approximately 644 million tokens.

A quarter of this supply was distributed through private and public sales in 2017. Information regarding team token holdings remains undisclosed.

6/ Render Network's evolution highlights its focus on democratizing access to GPU processing power and streamlining rendering workflows. With its innovative approach, the Render Network community has exciting prospects ahead.


Disclaimer: This thread is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions

#RenderNetwork #GemxCrypto