What is a Render Network and How Does It Rent GPU Power?
What is a Render Network and How Does It Rent GPU Power?
Render Network is a peer-to-peer network that rents idle GPU power to content creators and AI applications where transactions are processed securely and transparently using blockchain and smart contracts. RNDR token is the native token of Render Network and is used to pay for doing business on the platform.
Render Network is powered by OTOY, a cloud rendering company. It pools idle GPU power and creates a marketplace where individuals and entities (“Creators”) can use this quiescent power to render high-quality graphics, train AI models, and more.
Render Network uses Render Proof to manage the verification process for a delivered job and the fee for each Node Operator, offering scalability, privacy and security, and transparency to Creators.
Node operators are paid in RNDR, the project's native token, for completing a job. RNDR also serves as the project's governance token and is currently on the rise due to interest in the AI narrative.
In 2023, Render Network's token, RNDR, increased in value by over 1,000%. The rise of Render Network AI, and the subsequent demand for GPUs to train AI models, outstrips the supply of major cloud server providers such as Amazon Web Services, Microsoft, Google, and Oracle.
Render Network is designed to rent idle GPU power, allowing Creators to access an idle GPU network for computing power. While initially positioned as a solution for Creators to render graphics and other assets at scale, it has since expanded beyond movies and games, and Render Network now also supports AI computing, where GPU power can be rented to train generative AI models.
Render Network was founded by Jules Urbach, the founder of OTOY, which is also a cloud rendering service that delivers cinematic-quality 3D graphics.
As mentioned above, Render Network aims to overcome the bottleneck around computing infrastructure where the centralized GPU cloud is unable to meet computing power demands, leading to high prices and lack of availability. Render Network connects individuals or entities that need GPU power (called "Creators") with those who have free GPU resources ("Node Operators").
Render Network overcomes the limitations of the centralized cloud by renting idle GPU power to Renderers or other protocols. Device owners anywhere in the world can become Node Operators, committing their spare GPUs to the Render Network and earn RNDR every time their GPU power is used to complete a job.
This means that creators and applications can easily obtain GPU power to render high-resolution graphics or train an AI model with this setup, for a significantly lower price than centralized GPU cloud. This has led to Render Network becoming an important protocol to follow in both DePIN is where major studios are using Render Network in their production workflows and in the AI space.
How Does Render Network Work?
Working of Render Network
A blockchain network
Creators creating work that requires GPU power
Node Operators, which are GPU owners who connect their idle GPUs to the network
OctaneRender, the engine used in the Render Network client
A multi-layered pricing protocol and
Render Proof, a consensus system that guides the overall operation.
Render Network was first deployed on the Ethereum blockchain and recently launched on the Solana blockchain, with plans to eventually move to the latter. The Blockchain layer processes payments where public ledgers ensure that all Creator-Node Operator interactions are transparent, where all parties (and the Foundation Team) can ensure that all transactions are processed correctly and identified and corrected if necessary.
Creators who want to rent GPU power from Render Network create a job. The job contains the details of the task, where the fee is determined by the parameters of the job and the resource availability of the network.
Node Operators use OctaneRender, a rendering application developed by OTOY, the graphics development company behind Render Network. To ensure the privacy and security of assets and Creators on the network, the system uses end-to-end encryption and hashing, along with other measures.
A multi-layered pricing protocol handles job allocation. It uses a reputation-based system to rank node operators and allows creators to choose from three tiers of pricing. Level 1 services are used by trusted partners of the project. Creators who want high-quality service can choose Level 2. Level 3 is the economy level.
Tier 1 services are handled by higher ranked node operators and generally execute faster. Once node operators begin processing the job, creators can monitor the progress of their job in real time using OctaneRender. Higher ranking node operators also receive more work allocation.
Render Network's Render Proof (POR) consensus algorithm coordinates the processing of the job. Similar to how the Proof-of-Work consensus algorithm works, the node operator commits computing resources (GPU) to process the task. However, instead of a mathematical puzzle, the task here is one of creating a graph. After submitting the job, the POR algorithm updates the status of the node operator, including changes in reputation score, based on the quality of the given task.
Now, let's take a look at some of the benefits that Render Network brings to the GPU rendering space.
Scalability
Creators using Render Network have access to an optional GPU power base from which they can rent as much GPU power as needed for their tasks. With reports stating that Render Network has more GPUs than Amazon's and Google's networks, it's not a stretch to say that Render Network Creators have access to an infinitely scalable GPU power supply system.
Privacy and Security
When transacting business from individuals to globally recognized studios, Render Network has taken precautions to protect the privacy of Creators and assets on the network. These measures include encrypting all assets, limiting individual asset storage to short-term, and watermarking individual frames to ensure payment is made before scenes are downloaded.
Transparency and Fair Pricing
Render Network claims to offer a completely transparent system to Creators and Node Operators. As mentioned above, by using blockchain to process payments, all Creator-Node Operator interactions can be publicly verified on the blockchain's public ledgers. Creators and Node Operators must build reputation points or acquire higher amounts of jobs (Node Operators) to access larger amounts of concurrent GPU nodes (Creators), based on the number of jobs successfully completed. This is combined with a multi-tiered pricing system that allows users to pay according to their needs and budget.
Using Render Network Cases,
Render Network's GPU processing power can be rented for a variety of applications, from film and game development to artificial intelligence. Render Network supports use cases beyond those listed below, including physics and mathematical simulations or project mapping
Payment for Work,
RNDR is the base currency of Render Network. Creators from Node Operators who want to render their graphics over the GPU pay RNDR for the work. The cost of a job is determined by the GPU power required to render the graphics. On Render Network, this is measured as OctaneBench (OBH), a tool created by OTOY to describe the GPU power delivered by any graphics card combination into a single score.
However, to simplify the payment process for Creators unfamiliar with cryptocurrency, Render Network has introduced RNDR credit which can be purchased using debit cards, although these credits still reflect the RNDR value of the payment to be made and Node Operators receive their rewards in RNDR.
As the demand for AI and next-generation media increases, so does the demand for GPU computing power. With Render Network's access to a large network of free GPUs, the project can deliver scalable GPU power to a Creator's needs. Unlike its centralized competitors, Render Network does not have to limit GPU availability while offering competitive prices, as its pricing model is based on a $1 RNDR value, reducing the impact of RNDR token volatility. Render Network uses blockchain technology and smart contracts to create a transparent decentralized market for GPU power, where Node Operators can monetize their idle GPUs, while Creators can access a cost-effective and efficient rendering solution tailored to their needs.
This article is provided for informational and educational purposes only and is not intended to be considered financial or investment advice. Readers are advised to do their own research before investing any capital in any protocol.
