Render Network Moves From Ethereum to Solana Blockchain in Major Win – Where Next for SOL?
3D content rendering platform Render Network has relocated from the Ethereum blockchain to Solana in order to benefit from the latter’s high throughput and lower transaction costs.
As per an update in a blog posted to Medium, the Render Foundation said that it had successfully implemented an upgrade to its core infrastructure to Solana from Ethereum.
RNDR token holders can now migrate their tokens from the Ethereum blockchain to the Solana blockchain using the Upgrade Assistant at upgrade.rendernetwork.com.
The Render Network is a decentralized global network of GPUs that come together to offer rendering services for 3D content creators.
The protocol’s foundation said in its blog post that it had set aside up to 1.14 million RNDR tokens worth over $2.6 million at the current price to facilitate the upgrade and cross-blockchain shift.
According to the Render Network Foundation, users will be awarded a share of the 1.14 million tokens based on a points system designed to incentivize upgrading as soon as possible.
“Moving Render’s core infrastructure to Solana is a watershed moment that unlocks major new capabilities like real-time streaming and dynamic NFTs,” commented Jules Urbach, the Render Network’s founder.
“Solana’s 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,” he added.
A Watershed Moment For the Solana Blockchain Too?
The fact that the Render Network, a protocol boasting one of the crypto industry’s most promising use cases, is moving to Solana is huge news for the blockchain.
Though it saw explosive growth in late 2021 to reach a market cap high of more than $75
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