• The Render Network saw a 17.7% increase in frames rendered in Q1 2024 compared to Q1 2023.
• OctaneBench scores on the Render Network doubled year-over-year.

Welcoming summer, Render Network Proposals (RNPs) and other enhancements have advanced the decentralized platform of Render this spring. The BTN (Block Times Newsletter) this week will explore the important network growth metrics for the first quarter of the year and highlight the incredible advancements achieved by the Render Network.

Render Network Metrics

Important measures of the Render Network have grown significantly year after year, especially network compute capacity. The network’s GPU power is noticeably higher in Q1 2024 than in Q1 2023.

Trends show a spike in increasingly demanding GPU rendering jobs being submitted, where the rate of Render used is increasing faster than the number of frames produced. All the same, throughout this time, the number of frames processed increased noticeably.

A noteworthy statistic is the increase in frames rendered year over year. 2,495,084 frames in all were rendered in Q1 2024, a 17.7% rise from 2,119,813 frames in Q1 2023. This expansion indicates how much the capabilities of Render Network are in demand.

There has been an even more remarkable increase in the use of RNDR tokens. 816,602 RNDR tokens were used overall in Q1 2024, up 60.28% from 509,469 RNDR tokens used in Q1 2023. This notable increase emphasizes how much more high-complexity rendering jobs are depending on Render Network’s services.

Job Creation and Average Usage

Remarkably, the number of jobs produced fell by 19.4% year over year, from 37,049 in Q1 2024 to 45,966 in Q1 2023; this fall is attributed to a decrease in small frame rendering positions. The average RENDER used per job accordingly rose dramatically, suggesting a move toward rendering jobs requiring more resources.

OctaneBench is a GPU rendering performance benchmark that has grown astronomically. Q1 2024 saw an average OctaneBench on the network rise by 111.69% over Q1 2023. The network’s improved efficiency and rendering capabilities are reflected in this astounding growth.

Milestone Achievements

The Render Network hit a major milestone in March 2024 when it rendered more than a million frames in a single month—only the second time in the network’s history. An other notable accomplishment for the network was the usage of more than 400,000 RENDER tokens in March 2024.

As of this moment, RNDR is trading for about $6.83, down 7.44% over the last 24 hours. RNDR has been declining by 15.80% during the last seven days. The Render Network’s long-term growth indicators are still strong despite this most recent decline.

On the other hand, Render Network are still a major component in Solana’s plan to control the DePIN (Decentralized Physical Infrastructure Networks) market, as previously reported by CNF.

Together with other important initiatives like Shdwdrive and Helium Network, Render is well-positioned to significantly influence the way decentralized networks develop.