Render [RNDR] Crypto Explained Simply For Beginners

Summary

This 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

• 🚀 Render Network aims to be the 'Amazon Web Services' of the cryptocurrency market, providing a decentralized platform for computer processing power.
• 🌐 Render is a peer-to-peer marketplace for computer processing power, allowing data providers to rent out their processing power to content creators.
• 💻 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.
• 💰 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.
• 🔥 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.
• 🏦 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.
• 🌐 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.
• 🔗 Render has integrated with major tech companies like Apple, Google, and Microsoft, potentially boosting its capabilities and interest in the token.
• 📈 Render's price is likely to be influenced by broader AI market movements and the success of its integrations with big tech companies.
• ⚠️ 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

00:00

🚀 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.

05:01

💡 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.

10:01

🔄 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.

Keywords

💡Render Network

The Render Network is a decentralized peer-to-peer marketplace for computer processing power. It aims to be the Amazon Web Services (AWS) of the cryptocurrency market by allowing users to rent out their processing power for rendering images and videos. This network is crucial for content creators like movie studios, architects, and NFT artists who require high computing power.

💡AWS (Amazon Web Services)

AWS is a comprehensive cloud computing platform offered by Amazon, providing various services including data storage, processing power, and hosting capabilities. The video compares AWS's centralized approach with Render Network's decentralized model, emphasizing the latter's potential to revolutionize the industry by removing the single point of failure.

💡Decentralization

Decentralization refers to the distribution of computing power and data hosting across multiple nodes rather than relying on a single centralized entity. In the context of the Render Network, it means that processing tasks are distributed across a network of computers globally, reducing dependency on a single provider like AWS.

💡Render Token (RNDR)

The Render Token is the cryptocurrency used within the Render Network to compensate data providers for their processing power. Initially, it was directly used to pay for rendering tasks, but the 2023 update introduced a 'burn and mint equilibrium' model, where tokens are burned to match the US Dollar value of the rendered task, and new tokens are minted periodically.

💡Burn and Mint Equilibrium

This economic model was adopted by the Render Network in 2023 to balance the supply and demand for processing power. Under this model, tokens are burned to reduce the overall supply when content creators pay for rendering tasks. Simultaneously, new tokens are minted and distributed as rewards to maintain a steady supply.

💡Proof of Render

Proof of Render is an algorithm used by the Render Network to manage the distribution of rendering tasks across the network. It evaluates the processing power required for each task and allocates it to available computers, optimizing the rendering process and ensuring efficiency.

💡OToy

OToy is the rendering company founded by Jules Urbach, who also founded the Render Network. The company specializes in high-end rendering technologies and plays a crucial role in the development and operation of the Render Network. OToy's involvement lends credibility and technological expertise to the project.

💡Solana Blockchain

Solana is a high-performance blockchain known for its fast transaction speeds and low costs. In November 2023, the Render Network migrated from the Ethereum blockchain to Solana to leverage these benefits, aiming to enhance scalability and support features like real-time streaming and dynamic NFTs.

💡Dynamic NFTs

Dynamic NFTs are a type of non-fungible token that can change or evolve based on certain conditions or interactions. The Render Network's move to Solana aims to support these advanced NFTs, which could be used in various applications like gaming, virtual worlds, and digital art.

💡Network Effect

Network effect refers to the phenomenon where the value of a product or service increases as more people use it. For the Render Network, achieving a strong network effect is essential for its success, as it needs a large and active user base to compete with established centralized services like AWS and other emerging competitors in the decentralized space.

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

latest the greatest and the best

moneymaking Alpha and insights in the

cryptocurrency market we're covering hot

airdrops altcoin news news altcoin deep

Dives nfts technical analysis tutorials

and much much more you can join our

100,000 plus weekly readers and sign up

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