Weekly newsletter of Wit - Render Network overview #5
What is Render Network
Render Network is a decentralized, open-source cloud computing platform that allows users to share their spare computing resources with others, and earn cryptocurrency in return. It uses a peer-to-peer network to match users who need computing resources with those who have them to spare. It aims to provide a more decentralized and affordable alternative to traditional cloud computing services such as Amazon Web Services, Google Cloud, and Microsoft Azure.
New industrial revolution, AI revolution and its fuel
As we stand at the threshold of a new industrial revolution, one characterized by the advent of Artificial Intelligence, it is worth noting that just as the first industrial revolution was propelled by coal and steam power, and the second by electricity and oil, the driving force behind the current AI revolution will be the utilization of decentralized GPU computing power, which has been shown to be superior to centralized GPU computing power in terms of efficiency and scalability.
Advantages of decentralized cloud computing services vs centralized
Decentralized cloud computing platforms, such as Render Network, aim to mitigate these concerns by distributing computing power across a peer-to-peer network, rather than relying on a centralized provider. This approach can lead to faster data processing, enhanced security, and reduced vulnerability to breaches or outages. Furthermore, decentralized cloud computing platforms such as Render Network enable individuals and businesses to share spare computing resources and earn cryptocurrency in return, which can provide a new source of income, especially in the current economic climate. The demand for decentralized cloud computing services is expected to increase as both the need for GPU computing power and concerns about privacy, security, and censorship continue to grow.
Decentralized cloud computing platforms have the potential to be faster than centralized platforms because they can make use of the spare computing resources of multiple users, rather than relying on a single data center. This allows them to scale horizontally, by adding more resources to the network as needed, rather than vertically, by adding more resources to a single data center.
Additionally, decentralized cloud computing platforms can take advantage of edge computing, which allows data and computing tasks to be processed closer to the source of the data. This can reduce the latency and improve the speed of data transfer.
Another reason why decentralized cloud computing platforms can be faster than centralized platforms is that they can make use of a more efficient data storage and retrieval system, such as distributed file systems like IPFS. These systems allow data to be stored and retrieved from multiple sources simultaneously, which can improve the speed of data transfer.
Render Network value proposition
The field of Artificial Intelligence is currently experiencing a period of rapid development and expansion. As a result, it is essential to acknowledge the crucial role of GPU computing power in the advancement of AI. The increased demand for AI capabilities may lead to a scarcity of available GPU computing power, emphasizing the importance of understanding its significance. The scalability of AI utility is closely tied to the development of decentralizing cloud computing networks, such as Render, as the industry's leading companies, including Apple, Nvidia, Meta, and Google, have recognized through their investments in Render Network’s parent company, OTOY.
We know that there is a real demand for decentralized cloud GPU computing. This is exemplified by recent events, such as the delay in the release of the film Avatar 2, as a result of issues encountered with rendering the film utilizing Amazon Web Services (AWS). This incident highlights the limitations of centralized cloud computing providers and the potential for decentralized alternatives to address these issues.
Need for decentralized cloud computing services
As the reliance on cloud computing for data storage and processing continues to increase, there has been a growing need for decentralized cloud computing services, such as Render Network. The centralization of computing power, including GPU and CPU, in the hands of a few large companies, has resulted in concerns regarding speed, reliability, privacy, security, and censorship.
"In the case of $RNDR you are basically displacing AWS instance" made by billionaire Chamath Palihapitiya highlights the potential for decentralized cloud computing platforms like Render Network to disrupt the centralized cloud computing market, currently dominated by large companies such as Amazon Web Services (AWS). This statement suggests that decentralized platforms like Render Network can provide a viable alternative to centralized providers, by offering similar services at a lower cost and with added benefits such as improved security, privacy, and flexibility.
This statement aligns with the growing body of evidence that suggests a need for decentralized cloud computing platforms. As more and more businesses and individuals rely on the cloud for storing and processing data, there is a growing concern about the concentration of computing power in the hands of a few large companies and the potential risks this poses to privacy, security and censorship. Decentralized platforms like Render Network can address these concerns by distributing computing power across a peer-to-peer network, and providing a more secure, transparent and affordable alternative to centralized providers.
PARTNERSHIPS
We know that Render has established a partnership with tech giant Apple, and is featured in recent keynotes and even apple homepage. This partnership serves as an indication of the potential for growth within the decentralized cloud computing market, and further supports the assertion that there is a growing demand for decentralized alternatives to centralized cloud computing providers. Additionally, there are other potential partnerships with major players in the entertainment industry such as HuLu, Netflix, and HBO, which further emphasizes the potential for growth within this market. According to various reports, the Cloud Infrastructure market is expected to grow at a CAGR of 20.9% during the forecast period 2021-2026 and will reach a trillion dollars by 2026 and this is without calculating rapid growth of AI. The increasing adoption of cloud infrastructure services across various industry verticals is expected to drive the market.
TEAM
In evaluating the potential of the Render Network, it is crucial to consider the leadership and guidance provided by the company's top executives and advisors.
The CEO and advisors play a crucial role in shaping the direction and strategy of the company, and their experience and qualifications can serve as an indicator of the company's potential for success.
In this analysis, I will focus specifically on the CEO and advisors of the Render Network, as we believe that this is a particularly salient aspect in assessing the potential of the platform. This is because the experience and expertise of the CEO and advisors are key factors in determining the ability of the Render Network to achieve its goals of providing decentralized cloud computing for industry leaders.
It is important to note that while other team members also play a crucial role in the success of the company, the CEO and advisors' experience and expertise are particularly noteworthy and indicative of the company's potential for growth and development.
CEO
Jules Urbach, the CEO of Render Network, possesses an extensive background in computer graphics, 3D rendering, and streaming. With over 25 years of experience in this field, he has established himself as a respected and accomplished industry professional. Notably, he is credited with creating the world's first 3D video gaming platform.
Jules Urbach's extensive experience in the field of computer graphics and 3D rendering, as well as his reputation as a pioneer in the industry, makes him a valuable asset to Render Network. His knowledge and experience will likely play a significant role in the company's endeavors to develop a decentralized cloud computing platform that provides improved security, privacy, and flexibility at a lower cost. He is often invited to speak at key industry events like Nvidia's presentations.
ADVISORS:
The Render Network has assembled a team of advisors that brings together a diverse range of expertise and experience. Among the advisors are notable figures in the fields of film and television production, digital art, and computer science.
J.J. Abrams is a film and television producer, director, and writer known for his work on popular franchises such as Star Wars, Star Trek and Lost. He is also the founder of Bad Robot Productions, a film and television production company.
Mike Winkelmann, also known as Beeple, is a digital artist and graphic designer who is known for his use of 3D graphics and animation in his work. He has created digital artwork for various music and fashion brands, and has also created digital assets for various cryptocurrency projects.
Brendan Eich is a computer scientist and entrepreneur best known as the creator of the JavaScript programming language and the co-founder of the Mozilla Project, which developed the Firefox web browser. He is also the co-founder of Brave Software, a company that develops a web browser that prioritizes user privacy. He is also known for his involvement in the development of the Basic Attention Token (BAT), a cryptocurrency used to reward users and creators for their attention on the Brave web browser.
The combined expertise of these advisors will undoubtedly be of great value to the Render Network as it continues to develop its decentralized cloud computing platform and strive to improve security, privacy, user experience and flexibility at lower cost.
TOKENOMICS
Render Network utilizes a token-based system to incentivize the sharing of spare computing resources with the network. The primary token used on the platform is RNDR. This token can be earned by users who share their resources and can be used to pay for computing resources on the network.
Let me point out that the current tokenomics of Render Network may not be fully developed or optimal. However, it is important to note that there is a community proposal currently under consideration that aims to improve the attractiveness of the $RNDR token for investors. This proposal has two main objectives:
To establish the RNDR token as a commodity asset that aligns with the network's long-term goal of creating a standard for tokenized compute.
To enable RNDR to have the potential to become a deflationary asset, allowing for strong value accrual to the token in the event of strong network utilization and growth.
My opinion is that this proposal, if implemented, would ultimately lead to an increase in the value of the $RNDR token. For more information, please refer to this link: https://github.com/rndr-network/RNPs/blob/main/Live%20Pending/rnp-001-bme.md
Please note that this proposal is still under consideration and the implementation can change, thus it is important to conduct thorough research and understand the risks involved before investing, this is just my view and it is not financial advice.
FINAL THOUGHTS
The decentralized cloud computing market is rapidly growing, and the Render Network is poised to take a leading role in this industry. The platform's decentralized GPU cloud computing services cater to the growing demand for GPU resources, driven by the increasing popularity of Artificial Intelligence.
The Render Network's decentralized architecture not only provides improved security, transparency, and affordability compared to centralized alternatives but also allows it to scale and adapt to the changing market needs. Additionally, the company has a team of advisors with extensive experience in film and television production, digital art, and computer science, and partnerships with industry giants like Apple, and new opportunities like possible partnerships with HuLu, Netflix, and HBO, further demonstrate the company's potential for success and continuous growth just as Apple, Nvidia, Meta, and Google, have recognized the potential through their investments in Render Network’s parent company, OTOY..
As for myself, the Render Network represents a unique opportunity for me to be invested in something that is at the forefront of this rapidly growing market.
TWITTER
https://twitter.com/RenderToken