Render [RNDR] Crypto Explained Simply For Beginners
Summary
TLDRThis video provides an in-depth explanation of the Render cryptocurrency, a decentralized network for computer processing power. It highlights Render's aim to rival AWS by allowing data providers to rent out processing power for content creators. The video also covers the recent shift to Solana blockchain, the new burn-and-mint token model, and potential risks and opportunities. Emphasizing the importance of understanding investments, the video serves as a comprehensive guide for beginners interested in the Render token and its role in the evolving AI and cryptocurrency markets.
Takeaways
- đ Render Network aims to be the 'Amazon Web Services' of the cryptocurrency market, providing a decentralized platform for computer processing power.
- đ Render is a peer-to-peer marketplace for computer processing power, allowing data providers to rent out their processing power to content creators.
- đ» Founded in 2017 by Jules Bork, CEO of rendering company OT Toy, Render Network enables content creators to render 3D designs, animations, and more by utilizing a decentralized network of computers.
- đ° The Render token (RND) is the fuel of the Render Network, initially used as a fee for data providers but now operating under a 'burn and mint equilibrium' model to balance supply and demand.
- đ„ In 2023, Render Network migrated from the Ethereum network to the Solana blockchain, aiming to scale up with real-time streaming capabilities and lower transaction costs.
- đŠ Render has a maximum supply of 536 million tokens, with 25% allocated to the public, 10% to reserves, 10% to the team, and 55% for user development.
- đ Render's business model has evolved to a new token economic model where content creators burn RND tokens equivalent to the cost of rendering, and new tokens are minted to reward data providers.
- đ Render has integrated with major tech companies like Apple, Google, and Microsoft, potentially boosting its capabilities and interest in the token.
- đ Render's price is likely to be influenced by broader AI market movements and the success of its integrations with big tech companies.
- â ïž Investing in Render carries risks, including competition from centralized services like AWS and the speculative nature of cryptocurrency investments.
Q & A
What is Render Network and how does it relate to the cryptocurrency market?
-Render Network aims to be the Amazon Web Services (AWS) of the cryptocurrency market. It is a peer-to-peer marketplace for computer processing power, allowing data providers to rent out their processing power to content creators for a fee, paid in Render tokens. This network is decentralized, unlike centralized services like AWS.
What is the primary function of the Render token (RND) in the Render Network?
-The Render token (RND) is fundamental to the network. Initially, it was used as a fee given to data providers as compensation for the resources they provided. However, in 2023, the token's economic model was updated to a burn and mint equilibrium, balancing supply and demand for processing power.
How does the Render Network handle the pricing and payment for rendering services?
-Each content piece that needs to be rendered is priced in US Dollars. Upon completion, the content creator burns an equivalent amount of Render tokens, reducing the overall token supply. New Render tokens are created and distributed as rewards to maintain balance.
What is the maximum supply of Render tokens and how is it distributed?
-Render has a maximum supply of 536 million tokens. At launch, 4.65 million tokens were sold, with 25% allocated to the public, 10% to reserves, 10% to the team, and 55% for the Render user development fund. As of the time of the script, around 378 million tokens are in circulation.
What significant update did the Render Network undergo in 2023?
-In 2023, the Render Network underwent a significant update by migrating its infrastructure from the Ethereum network to the Solana blockchain. This move was intended to scale up and unlock capabilities such as real-time streaming in dynamic NFTs.
What are some of the potential risks and opportunities associated with investing in Render tokens?
-Potential risks include the speculative nature of cryptocurrency investments, reliance on broader AI market movements, and competition from centralized services like AWS. Opportunities include the network's integration with big tech companies like Apple, Google, and Microsoft, and the potential for growth in the decentralized metaverse infrastructure.
Why did Render Network choose to migrate to the Solana blockchain?
-Render Network's founder believes that moving to Solana will provide major new capabilities such as real-time streaming in dynamic NFTs. Solana's transaction speeds, low costs, and commitment to web scale architecture make it a better fit for the Render Network's scalable and decentralized infrastructure.
How does the Render Network's proof of render algorithm work?
-The proof of render algorithm evaluates the processing power required for rendering each piece of content uploaded to the network. It then distributes the workload to available processing power throughout the network, optimizing for project allocation.
What are some of the notable advisors and connections Render Network has in the entertainment industry?
-Render Network has an impressive list of advisors, including JJ Abrams, a legendary movie maker known for his work on Star Wars, Star Trek, and Mission Impossible, and Ari Emanuel, CEO of Endeavor, a major entertainment and media agency representing some of the biggest names in Hollywood.
What is the significance of Render Network's integration with Apple's Octane X and Google's A2 virtual machines?
-The integration with Apple's Octane X and Google's A2 virtual machines signifies Render Network's expansion into mainstream tech platforms. This could drive massive interest in the Render token and potentially increase its adoption and value.
Outlines
đ Introduction to Render Network and Cryptocurrency
This paragraph introduces the concept of Render Network, a decentralized marketplace for computer processing power, aiming to compete with centralized services like Amazon Web Services (AWS). The script discusses the need for computing power in AI and how Render Network allows users to rent out their processing power to content creators. It also mentions the Render token (RND) and its role in facilitating transactions within the network. The speaker emphasizes the importance of understanding an investment before investing and provides a disclaimer that the video is for educational purposes only, not investment advice. The video promises to break down the key risks and opportunities associated with investing in Render.
đĄ Understanding the Render Token and Its Economic Model
This paragraph delves into the specifics of the Render token (RND), which serves as the currency within the Render Network. Initially, the token was used to pay data providers for their contributions to the network. However, in 2023, the community voted for a new economic model called 'burn and mint equilibrium'. This model involves pricing content rendering in US dollars and burning an equivalent amount of tokens upon completion, reducing the overall supply. New tokens are then minted and distributed as rewards to maintain balance. The paragraph also discusses the token's supply, distribution, and integration with major tech companies like Apple, Google, and Microsoft, highlighting the potential for increased interest and utility of the token.
đ Migration to Solana and the Future of Render Network
The final paragraph discusses the Render Network's migration from the Ethereum blockchain to Solana in November 2023. The move is seen as a strategic decision to scale up and unlock new capabilities such as real-time streaming in dynamic NFTs. The speaker notes the potential benefits of Solana's fast transaction speeds and low costs, but also acknowledges the risks associated with Solana's downtimes. The paragraph also touches on the broader implications for Render's price, which is likely to be influenced by the performance of the AI market and the network's ability to compete with established players like AWS. The speaker concludes by emphasizing the need for Render to achieve significant economies of scale for long-term sustainability and profitability.
Mindmap
Keywords
đĄRender Network
đĄAWS (Amazon Web Services)
đĄDecentralization
đĄRender Token (RNDR)
đĄBurn and Mint Equilibrium
đĄProof of Render
đĄOToy
đĄSolana Blockchain
đĄDynamic NFTs
đĄNetwork Effect
Highlights
Nvidia's stock market rally has provided a second chance with the cryptocurrency market, particularly with Render AI.
Render AI is a cryptocurrency that aims to transform the world and investors' net worths by focusing on computing power.
The first rule of investing is not to invest in an asset you don't understand.
Render Network aims to be the Amazon Web Services (AWS) of the cryptocurrency market.
Render is a peer-to-peer marketplace for computer processing power, challenging centralized services like AWS.
Render allows data providers to rent out their processing power to content creators for a fee.
Content creators can upload their 3D designs, animations, or other content to the Render Network for faster production.
The Render Network uses an algorithm called Proof of Render to optimize project allocation and distribute workload.
The business model of Render changed in 2023, introducing a new token economic model called Burn and Mint Equilibrium.
The new model balances supply and demand by pricing content in USD and burning Render tokens upon completion.
Render tokens are created and distributed as rewards during set blocks of time to maintain balance in the network.
Render has a maximum supply of 536 million tokens, with 25% allocated to the public and 55% for user development.
Render has integrated with big tech companies like Apple, Google, and Microsoft to boost its capabilities.
The Render Network completed its migration from Ethereum to the Solana blockchain in November 2023.
The move to Solana is aimed at scaling up and unlocking capabilities like real-time streaming in dynamic NFTs.
Render's price is linked to broader AI market movements and the success of the AI sector.
Render faces competition from centralized services like AWS and other decentralized platforms in the crypto space.
Render needs to achieve economies of scale for long-term sustainability and profit for token holders.
Transcripts
if you missed out on nvidia's insane
stock market rally well you've been
given a second chance with the
cryptocurrency markets particularly a
cryptocurrency called render AI is
transforming the world as well as
investors net worths and the one thing
AI needs the most computing power this
is where render comes in but the first
rule of investing of course is you don't
want to invest in an asset that you
don't understand although a lot of us
can do that sometimes so look I want to
break down exactly what the render
cryptocurrency is and how it works so if
you're new to investing in
cryptocurrencies or maybe just new to
the render token then this video is for
you I will be explaining it so simply
that even a complete beginner can
hopefully understand what this coin is
all about no technical background is
going to be required here and make sure
of course that you stick around until
the end of the video as I'll be breaking
down and outlining some of the key risks
and opportunities of investing in the
crypto token to help you avoid foming in
and making those costly beginner
mistakes hopefully anyway before we dive
in of course I have to give you this
quick
disclaimer no one has paid us to make
this explainer video this information in
this video is provided to you for free
for educational purposes this is not a
recommendation for you to run out and
fomo buy or fomo sell or even hold the
particular cryptocurrency in discussion
here if you appreciate this kind of free
information then please do share this
with your friends who may also find it
useful or helpful and of course for full
portfolio disclosures please see the
link in the description on YouTube or in
the pinned comment on X there you can
see all of my current cryptocurrency
Holdings by the way I don't currently
hold render as well as my Venture
Investments so go ahead and check that
out if you're interested it's also a
risk statement there on investing in
crypto because you can lose all your
money never forget that okay so let's
get started what is render simply put
the render Network aims to be the Amazon
web services of the cryptocurrency
market the render network is a
peer-to-peer Marketplace for computer
processing
power yes render is taking on the big
boys like Amazon web services for that
they're going to need their big boy
pants AWS buys up computer chips and
graphic cards from the likes of Nvidia
and then uses those to create massive
data servers allowing users all over the
world to host their own content like
websites videos and images but the
problem with AWS is that the servers are
all centralized and that's not the
future of the internet is it it's all
owned and operated and profited on by
Amazon so there's a single point of
failure here the data is owned by Amazon
and if their data servers go down so too
does whatever it is you're working on
then we enter render render is an image
and video rendering Network founded in
2017 by Jules bbok CEO of rendering
company OT toy the render Network allows
data providers to be able to rent out
their own processing EMP power to
content creators for a fee anyone
looking to host their 3D designs or
their animations or Motion Graphics or
whatever these people making the content
could be movie studios could be
Architects could be nft artists
metaverse developers interior designers
or just animators looking for a way to
help share their content and produce it
faster so rather than the entire network
host Ed by just one company like AWS
it's actually hosted and managed by the
render community of
computers all over the world a
decentralized network a decentralized
AWS the fee owed to the data providers
for completing each job gets paid in the
render token but this business model
actually changed in 2023 it's a very
important update more on that in a
minute so stay tuned users can upload
their content or designs to network and
once rendered will display of course as
a high resolution image or video render
under the hood evaluates the processing
power actually required for rendering
each piece of content that's uploaded to
the network each of the services
essentially it then distributes that
workload out to the available processing
power right throughout the network this
process is managed by an algorithm
designed to optimize for project
allocation known as proof of render the
computers with the available processing
power then thus render the content
produce the output and the job is
verified on the blockchain once this
work is all complete then the people
creating the content will pay the data
providers a fee that's representative of
the resources that were required to
actually render the content and before
we break down the RND drr token what it
does why it's important to the network
let me interrupt the flow real quick to
let you know about the best damn
newsletter in the cryptocurrency
business it's my newsletter and it's
called wealth Mastery so every single
week we are bringing you the hottest the
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for free using the link Down Below in
the description or in the pinned comment
on X now now that you understand what
the render network does and how it works
well let's talk about the fuel of the
render Network the render token so
renders R anddr token is fundamental to
the network initially the render token
was the fee given to the data providers
as compensation for the resources that
they're providing into the network but
this actually all changed back in 2023
when the render Community voted 100% in
favor of a new better token economic
model this new model is called the burn
and mint equilibrium and is a little
little more complex than the previous
model so let's try to simplify it for
you this was designed to create a
balance between the supply and demand
and processing power each content piece
that needs to be rendered is now priced
in US Dollars and upon completion the
content creator burns the equivalent
amount of render tokens thus reducing
the overall token Supply
pretty cool this allows the algorithm to
calculate the resources required in a
much more precise way than the previous
three tiered static pricing model so to
make sure that the data providers still
get paid new render tokens will be
created during the set blocks of time
and distributed out as rewards now let's
talk about the render tokens Supply and
its distribution so render has a maximum
supply of 536 million tokens when the
token was initially launched way back in
the day man way back it's been years
there were 4.65 million tokens sold in
total there is 25% of the total Supply
allocated to the public 10% allocated to
the reserves 10% allocated to the team
whilst a total of 55% is kept aside for
the render user development
fund now at the time of recording there
are around 378 million tokens available
in
circulation render has wasted no time in
getting out there in planting the seeds
for integrating with big Tech to help
boost it up its capabilities first up
for example Apple has introduced a new
rendering feature called octane X which
can be downloaded through Mac and iPad
app stores why are we talking about this
of course the company behind this
feature is led by render's founder
interesting right render hopes to expand
the feature out to the iPhone which
would drive massive interest in the
token if they're successful in linking
that up another product from render's
founder is the archive app which has
been released on Apple's Vision Pro
headset are you seeing the picture yet
are you getting all the details here
Google and Microsoft has also integrated
with render to bring Microsoft's azour
and Google's A2 virtual machines to the
network render also has a pretty
impressive list of advisors here
including legendary Movie Maker JJ
Abrams explosions yeah explosions of
course he worked on famous exploding
movies like Star Wars Star Trek at
Mission Impossible we also have Ari
Emanuel who is an adviser to render and
he's the CEO of endeavor which is a
major Entertainer M and media agency
representing some of the biggest names
in Hollywood again pretty interesting
right right throughout the entertainment
industry we're seeing big connections
here but before you go and say w it's
all amazing I'm going to fomo into
render right now because it has
Hollywood and big Tech on its side this
is
amazing let us first finish the video
and consider the potential risks and
opportunities of actually doing that so
November 2023 the render Network
completed the migration of its
infrastructure
from the ethereum network right over to
the salana
blockchain now you may be scratching
your head a little bit thinking well why
would you move away from ethereum isn't
that like the best blockchain that's
where all the developers are that's all
the big money is all the big liquidity
all the actions happening over there
well render's founder he thinks
otherwise and he is hoping that the move
to salana is going to be a big
opportunity to actually scale up he said
moving to salana is a watershed moment
for render that unlocks major new
capabilities such as realtime streaming
in Dynamic
nfts he goes on Salon has incredible
transaction speeds low costs and
commitment to web scale architecture
make it a perfect fit for the render
Network as we continue building a
scalable and
decentralized metaverse infrastructure
end quote now look depending on how you
feel about salana this could be a really
really big opportunity for you or you
could see it as a really big risk
because of salon's downtimes and stuff
like that so I'll leave you make that
decision when it comes to render's price
action it's probably also going to
follow along pretty strongly with
broader narratives around the AI Market
movements which I'm generally pretty
bullish on AI overall just put that out
there when open AI announced the launch
of its text to video AI model called
sora AI related crypto tokens jumped
7.7% on average within the 24 hours of
announcing that render was up around 12%
so you can see it's very links to
General AI hype so to some extent
render's price is dependent on how well
the broader AI sector performs which
again I'm generally pretty bullish on AI
but you will see big slumps in that as
well so be ready for that and just like
with any cryptocurrency there's of
course risk involved as it's a
speculative investment based on future
technology and adoption which despite
all the big backers and big names and
all that kind of stuff
is not a
guarantee but a factor that will really
probably make or break render and its
future success of course it is Network
effect to succeed render will need to
take market share away from the big dogs
those centralized versions from Big Tech
like Amazon web services and it will
have to fend off Fierce competition from
lots of other competitors Beyond just
AWS crowdrender blender cloud and others
coming up in the crypto space in general
blockchains are more expensive to
operate and maintain then a centralized
server but mve maybe moving over to
Salon is going to solve that problem a
bit for them anyway render will need
massive economies of scale for long-term
sustainability and long-term profit for
token
holders okay that's it thanks for
watching
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