What is Render (RNDR)? A guide to the distributed GPU rendering network

Rendering motion graphics, special effects, and 3D environments can be expensive and resource-intensive. This makes rendering inaccessible to many beginners and those without a budget for significant upfront spend on hardware. 

With Render, users can rent out computing power from unused graphics processing units (GPUs) on its network. Participants can rent out their GPUs when idle to receive RNDR tokens. Render links individuals who have spare GPU computing power with those who need it, using a decentralized peer-to-peer system that maintains affordability. 

Let’s look at how Render works and the technology that enables seamless distribution of GPU power. 

What is Render?

Render is a GPU rendering platform that offers on-demand access to GPU nodes. On the other side, anyone can rent out their unused GPU computing power. Render acts as a decentralized middle layer, connecting customers who want GPU power with those who have GPUs, through an open marketplace. 

Traditionally, artists only had two choices for rendering: 

1. Buy expensive GPUs to render. An artist would spend a few hours every day doing the rendering and would have to spend thousands of dollars on it upfront. 

2. The other option is to rent GPUs from companies like Amazon and Google Cloud. While some of these services offer on-demand GPU rentals, the prices aren't transparent. They’re also not always optimized for specific tasks and are almost always more expensive than Render. 

By leveraging blockchain, Render offers a completely transparent system where buyers get renderings at cheap prices, and sellers are fairly compensated. 

History of Render

Render was created by OTOY, a technology company that works with visual effects studios and animation artists. As a company in the space, it understood the potential of decentralizing a rendering service leading to the idea’s conceptualization in 2009. However, the project was only announced in 2017 when the company felt confident the technology was ready. Render raised a total of US$ 17.24 million in its ICO, and the mainnet was launched in 2019 after a long testing phase. 

Evolution of Render over the years

As a coin that’s been on the market for more than seven years, Render has gone through various updates and iterations. Most notably, in 2023, Render announced updates that helped with significant adoption.

White paper update

While the initial white paper was written during the initial ICO in 2017, it underwent major changes in May 2023 to make the project more sustainable. Most of the targets set in the initial white paper were fulfilled. So, new roadmaps and plans were defined. 

First, a Render Network Foundation was set up. It's a non-profit organization that works to grow the Render protocol and is governed by the community. 

Additionally, the protocol was made more decentralized, moving official discussions from Discord to Discourse. A Render Network Proposal (RNP) system was established where the community could discuss and vote on new features. The RNP is also used to vote for grants to be given to new projects that would benefit the Render ecosystem. 

By working in conjunction with the community, Render gets a better understanding of the market and what they want. This helps Render to grow in the direction of demand. 

RNDR tokenomics and distribution

Render created an initial supply of 536 million tokens. Of this, 25% was sold during its ICO and private sale in 2017. $1.16 million was raised through the ICO, and $16.08 million through ‌private sales. 10% of the supply was set as reserve, and the remaining 65% was sent to escrow. 

RNDR is the primary token powering the network. Creators use RNDR to pay ‌GPU providers, who also get paid in RNDR. The amount of RNDR spent depends on the complexity and the time taken for the rendering. 

Finally, RNDR is also used as a governance token. Community members can use it to vote on proposals and grants. 

Render is also a multi-chain protocol. As a result, the RNDR tokens are available and inter-operable between the Ethereum chain, Polygon, and Solana. They’re used to verify payments and connect ‌users. All other systems function using OctaneRender, a rendering system that was created by OTOY. 

How does Render work?

The render network has two components: creators and node operators. 

Node operators

Node operators have GPUs to spare and choose to participate in the Render network. If you have GPUs that are sitting idle, you can participate in the Render network and receive RNDR. As long as you have GPU processing power on a computer with minimum requirements and good network speed, you can register your GPUs to be rented out to creators. Render takes care of the rest, and you get paid based on ‌usage. 

Creators

Creators are graphic artists producing 3D renderings or AR/VR projects that are in need of GPU computing power. As a creator, you can sign up on the render network and upload your task. The network provides an estimate which must be paid using RNDR tokens. You only pay for what you use, without any other upfront costs. Render automatically takes care of matching your task with an appropriate node and completing it. 

Benefits of using Render

• Extremely cost-efficient compared to other cloud-based rendering services. 

• Opportunity for GPU owners to monetize their GPUs ‌while they’re idle. 

• Makes graphic rendering accessible, which is otherwise only available to large studios with deep resources. 

• Availability of GPUs and usage is transparent on the blockchain. 

Challenges and limitations of Render

• Requires new learning for both node operators and creators. 

• Operates in RNDR token which is volatile. However, creators can pre-purchase computing credits if they don't want to hold on to RNDR tokens. 

• If the supply of unused GPUs is low, the cost of rendering could go up. Or, creators would have to wait for more GPU users to join the network, which can take a while. 

How to buy RNDR

Now we’ve covered the Render protocol, read on to learn how to buy its native token RNDR on OKX. 

Buying RNDR on OKX

Step 1: Create an account on OKX and verify.

Step 2: Once you’re logged in and verified, you can buy RNDR. Head over to “Buy crypto” in the top menu bar and select “Express buy.” You can explore ‌other options if you want. 

Step 3: In the first box, set your preferred currency to pay with and in the second box, type “RNDR.”

Step 4: Type in the amount of RNDR you want to buy or the amount of paying currency you want to spend. The other value is calculated automatically depending on the market price. 

Step 5: Select “Buy RNDR.”

Step 6: Choose your payment method. The options include P2P, Apple Pay, Google Pay, Visa, and Mastercard from various providers. 

Step 7: Go through the steps shown for the payment method of your choice. Once the payment is confirmed, the RNDR tokens will arrive in your OKX account. 

Buying RNDR on the OKX mobile app

The OKX mobile app offers a convenient option for purchasing and selling RNDR from anywhere.

Step 1: Download the OKX mobile app for iOS or Android, depending on your device. 

Step 2: Sign in to your OKX account. If you don’t already have an account, select ‘Sign up’ and follow the instructions. 

Step 3: After completing the registration process and logging in, select the OKX menu from ‌the top-left corner. Then, choose ‘Buy’ under ‘Manage assets.’

Step 4: Search for “RNDR” and enter the amount of RNDR you want to buy. 

Step 5: Select your payment method and follow the instructions for the method you choose. 

Step 6: Once the payment is successful, your RNDR should be ready and available to trade in your account.

Choosing an RNDR wallet

OKX exchange is a convenient and secure place to store your RNDR tokens once you’ve purchased them. However, you might want to transfer them to a wallet if you're going to interact with Render, rent out compute power, or participate in community voting. 

We provide a highly secure and multi-chain OKX Web3 Wallet with all OKX accounts. It can safely store RNDR or any other cryptocurrency for as long as needed. The wallet can also be used on all chains that Render operates in, including Ethereum, Polygon, and Solana.

Future of Render

So, where's Render headed? GPUs have already become a hot commodity in 2024, with GPU-maker NVIDIA becoming one of the most valuable companies in the world. With GPU requirements for AI applications, there are more avenues for the Render network to expand. The launch of Apple Vision Pro has also seen a significant shift in the market for AR and VR content, which Render can help with.

However, the blockchain-based governance system can also act as a deterrent as it may not be able to adapt as fast as the market evolves. 

The final word

Render has stood the test of time and shown how unused compute power can be efficiently redistributed on a decentralized network, where everyone gains. With Render, graphic designers can buy computing power whenever they want at a fraction of the cost of paying for expensive hardware upfront. At the same time, those who have the hardware can get a steady stream of RNDR when their GPUs aren't in use. 

Render has successfully adopted the ethos of Web3 to rival other big names in this industry, and the future holds great promise for it. With resource-hungry AI and VR applications, Render is well placed to grow and thrive.