The Render Foundation, which pairs computers (nodes) that have GPU power to spare with creators who need rendering work done, has upgraded RNDR to RENDER for use on the network, as voted by the community in RNP-002, building expansion onto the Solana blockchain. In preparation for future network growth, there is an urgent need for real-time processing and validation, which is crucial to maintaining the integrity and performance of the network. The Render Foundation has received strong support from its users for migration, and the Burn Mint Equilibrium (BME) model will be implemented on Solana.
RNDR Tokens On The ERC-20 Network Have Been Migrated To Solana
RNDR tokens can be exchanged for RENDER tokens, and this can be done at a 1:1 ratio, which means 1 RNDR is equal to 1 RENDER. The RNDR price prediction for 2025 and beyond varies depending on the economic downturn, regulatory challenges, and demand for the Render Network. Back on topic, the Render Foundation will streamline the upgrade from ETH (RNDR) to SOL (RENDER) for the community. The old token, RNDR, is still live and trading on various exchanges, so check its current price and market information.
A Switch To A New Layer 1 Like Solana Helps Scale The Render Network
RNDR is the native token of the Render Network, a decentralized GPU rendering platform that operates on the Ethereum blockchain and brings together artists and studios in need of advanced processing capabilities for certain multimedia tasks. Most people don’t continually use their computers to render complex graphics for metaverse development, playing games, video processing, making NFT collections, and so on. By contrast, those who frequently undertake such tasks are constrained by their own hardware limitations. It’s a disparity that Render hopes to eliminate.
The Render Network was conceived by OTOY, which was responsible for developing Octane Render, the first commercially available unbiased path-tracer that enables users to alter scenes close to real-time without the speed malus of CPU rendering. Moving to the Solana blockchain helps meet the network’s technical needs and implement the new BME model, which allows creators to estimate rendering and AI job costs while also empowering node operators to provide computing services. The Render Network has reached a level of stability, reliability, and sustainability in its lifecycle, with millions of frames processed annually, and Solana was preferred over the newer Layer 1 networks that haven’t yet proven scale, stress under load, or off-chain liquidity.
ETH Runs At About 15 TPS, While Solana’s TPS Ranges Between 2,500 And 3,500
Transactions per Second (TPS) is a key performance indicator that measures the speed and scalability of a blockchain network by illustrating how many transactions it can process in one second. Block time, block size, and average transaction size are used to calculate a blockchain’s TPS. Ethereum can currently process roughly 15 transactions per second, and while this works for many applications, the network can get congested during peak times, leading to higher gas fees. Solana offers faster transactions due to its unique Proof of History consensus and the Proof of Stake finality. Theoretically, Solana’s built-in mechanism for synchronizing time across nodes supports a peak capacity of 65,000, but this figure isn’t supported by real-world implementation.
Henceforth, the Render Network plans to include more data on-chain for current and future offerings alike to guarantee better transparency for token holders and node operators, not to mention greater utility for artists. Most EVM-based chains don’t have the necessary TPS to help the project scale up further, so many operations become computationally intensive. Adding more write volume to an EVM chain can inflate gas prices twofold and hinder user experience; as auxiliary use cases like holographic streaming become available, even moderate transaction fees can impede creators’ ability to innovate. Many applications on the Render Network require multiple orders of high TPS for processing rendering frames.
Users Can Transfer Or Upgrade Their Existing RNDR Tokens To RENDER
The RNDR token facilitates the process of rendering and streaming intricate virtual works for users, which means that GPU-based render jobs can be distributed and processed on the peer-to-peer network. During the exchange, the network sends a request for an RNDR token smart contract to enter a transaction with both parties. The cost of the job is calculated and determined using RNDR tokens. The smart contract transfers the funds across accounts once the project has been completed. Unless your cryptocurrency exchange tells you otherwise, the only way to upgrade from RNDR to RENDER is through Render’s dedicated online platform.
You can convert your RNDR tokens to RENDER tokens for free; your cryptocurrency exchange may or may not automatically perform this conversion on your behalf. RNDR is no longer included in new purchases, and you must rebalance your bundle to include RENDER, which is tied to the success of Solana now. If all your tokens are on Layer 1, you can use the Render Network’s upgrade assistance tool. Connect your wallet, review the gas fees for the transaction, and await confirmation. It shouldn’t take more than 15 minutes. If so, reload the page to correct any issues.
The Takeaway
The Render Network has successfully upgraded its infrastructure from Ethereum to Solana, having allocated 11.4 million RNDR grants to subsidize user transfer fees. The RENDER token is used to pay for jobs on the network and a burn and mint equilibrium mechanism, which was implemented in 2023 to strengthen tokenomics; it has multiple benefits with respect to liquidity. Ledger and Trezor are hardware wallets you can use to store RENDER tokens securely offline, and this means you can reduce the risk of scams, hacks, and other cyber threats.
As for price predictions for 2025, there are divergent opinions. Some believe the value of RENDER may increase by 5%, while others are more cautious due to inconsistent results. Taking a step back, you should keep in mind that the cryptocurrency industry is difficult to analyze, and you should maintain a healthy dose of skepticism when the latest price predictions materialize.