Proof of Work consensus models have come under fire in recent months due to the excessive environmental damage caused by mining cryptocurrency. While other blockchains provide excellent, alternative solutions, the financial incentive to mine bitcoin and similar cryptos remains with the electricity being used doing little more than solving complex algorithms.
Launched today, RNDR, from the founders of cloud graphics company OTOY, allows owners of GPU to contribute their idle computing power towards a distributed global network of rendering power - the type of rendering power responsible for the graphics in Westworld, Star Wars, The Avengers and a host of other stunning films, games, and televisions shows. In return for lending computing power to the RNDR network, GPU owners can earn up to $300 per month and allow their computing power to be utilized for creating the future of AR, VR, and more.
Blockchain evolution of leading rendering firm OTOY crowdsources GPU power for quicker, scalable, and more efficient creation of graphics for movies, video games, augmented reality, and more
LOS ANGELES, July 12, 2018 - Built on the mission of accelerating an immersive, virtual future, pioneer in blockchain-based rendering, RNDR, has officially launched Phase II of its platform to the public. RNDR is developed by leading cloud-based graphics rendering firm OTOY, and is the first network to transform the power of GPU compute into a decentralized economy of connected 3D assets. By leveraging a distributed network of idle GPUs across its peer-to-peer network, RNDR makes it possible to scale rendering speed and simplify the transactional process of rendering and streaming 3D environments, models, and objects. RNDR’s team and advisory board is comprised of notable players such as Hollywood director and producer J.J. Abrams, founder of Brave and Basic Attention Token Brendan Eich, and famed talent agent Ari Emanuel.
Jules Urbach, CEO of OTOY said, “Content creation is moving faster than ever and artistic work involving visual elements has reached a degree of detail, subtlety, and complexity that was impossible to foresee a couple of decades ago. Along with the technologies that enable stunningly realistic images, the applications of visual content continue to expand and diversify. As the growth in demand for rendering services skyrockets, there are an increasingly large amount of market segments competing for these limited resources, and the solution to that problem is what we’ve built with RNDR.”
The Render Network creates a mutually beneficial marketplace between graphics creators and users who choose to lend their idle GPUs to power the network. Through the RNDR platform, creators gain access to a decentralized version of OctaneRender Cloud (ORC), OTOY’s premier cloud rendering service, and can choose preferences for the job including specifications around the render target, preferred resolution, number of samples, and number of frames. The network allows for any anonymous individual to lend their GPU to perform rendering tasks in exchange for RNDR tokens while providing as little information as a cryptocurrency wallet address.
Kalin Stoyanchev, Head of Blockchain/Project Lead of RNDR said, “Currently less than 1% of the world’s GPU power is accessible to creators, leaving a huge gap of wasted idle computing power in addition to stifling innovation and prohibiting the creation of incredible complex graphics. Our goal is to have the demand covered with no expense in terms of hardware, allowing for accessible costs and the democratization of rendering resources and with today’s launch of the Render Network, we are taking a significant step toward providing access to exponentially more computing power, at a more affordable cost to creators, with the utmost security of their digital assets ownership.”
Once a rendering job begins, a creator’s payment of RNDR tokens will be held in escrow until the job is completed, at which time tokens will be approved for withdrawal. Throughout the rendering process, users can watch the status of a job and updates of the render, such as scene previews, or maximize the preview mode to see better details in the image. As the job progresses, RNDR token usage increases, and once the job is complete, frames can be downloaded and the token transfer occurs.
Following today’s launch, RNDR’s next phase of development will be devoted to expanding its global partnerships and growing the platform to reach rendering-streaming through smart contracts and blockchain technology.
For more information, please visit www.rendertoken.com.
About RNDR:
From the creators of leading cloud graphics company, OTOY, RNDR transforms the power of GPU compute into a decentralized economy of connected 3D assets. Powered by the Ethereum blockchain, RNDR provides content creators, scientists, and anyone else requiring complex rendering activity with a secure and affordable solution.
Posted from my blog with SteemPress : https://hodlitbro.com.au/2018/07/13/press-release-bringing-sophisticated-rendering-tools-to-the-masses-blockchain-based-rendering-platform-rndr-available-now/