Render Network set to build a new bridge amid notable challenges

Journalist

Posted: November 18, 2023

• A large part of the Render clan voted in favor of the integration.
• However, compliance and scaling are obstacles that the project may face.

A Snapshot of the Render Network [RNDR] community vote has shown that the RNP-007 proposal has been given the green light as voting ended in the early hours of 17th November. From the results, 94.46% of the delegates were in overwhelming support of the scheme.

On the other hand, a mild 5.54% did not deem the proposal important enough to give it “yes.” This development marks another major upgrade from Render after it migrated from Ethereum [ETH] to Solana [SOL].

New clients, more interaction

Details from the RNP-007 proposal showed that the Render Foundation has asked to integrate FEDML as its compute client.

A compute client is a software responsible for processing blockchain transactions on a computer. AMBCrypto looked at the FEDML website and observed that it was involved in generative AI and Graphics Processing Unit (GPU) development.

Interestingly, these are some of the fundamentals of the Render project. According to Render, the FEDML integration would bridge the gap between the AI community and Render’s GPU resources. Its statement read:

“FEDML’s GPU marketplace can include Render, enabling AI developers to seamlessly access Render’s powerful distributed GPU resources. This integration streamlines workflows, reduces development time, and accelerates AI projects.”

With respect to the implementation process, Render noted that 50,000 RNDR tokens should be allocated to the independent developer group in charge of the project. Also, in the last 24 hours, the price of RNDR has dropped by 5.32%.

Network growth falls amid possible roadblocks

Meanwhile, AMBCrypto checked if the price decrease affected the network growth.

Network growth tracks the number of new addresses on a network. If the metric increases, it means the project is getting a lot of traction.

Source: Santiment

But for RNDR, the network plunged. This decrease implies that the rate of adoption has fallen when compared to the point it was on 16th November. However, when the FEDML goes live, there is a chance that the AI community will flock to the Render network. 

If this happens, then the network growth condition might change for the better. Meanwhile, Render came clean, clearing the air that it could experience some challenges in the process. 

Realistic or not, here’s RNDR’s market cap in SOL terms

One of the potential obstacles that Render mentioned includes fiat reconciliation. Others are regulatory compliance, and scaling the Render GPU. Concerning this, the project noted that:

“Tackling these challenges will demand seamless collaboration between the Render Network and FEDML teams. However, the potential of enabling generative AI development on Render’s GPU network is immense and the investment in spearheading web3 machine learning infrastructure innovation is well worth the effort.”