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Render Network Eyes Solana Migration Ahead of Network Changes
A community review will decide if the network will build its new burn-and-mint equilibrium model on the Solana blockchain.
Updated May 9, 2023, 4:10 a.m. Published Mar 20, 2023, 10:17 p.m.
The Render Network Foundation on Monday proposed building its new burn-and-mint equilibrium (BME) model on the Solana blockchain, according to a post on the network’s blog.
The BME model, which the community approved last month, requires users to burn a predetermined amount of RNDR, the network’s native token in exchange for non-fungible work credits distributed through node operators. Migrating to Solana could support the BME model’s implementation by accelerating transaction times, mitigating the cost of transactions and offering flexibility to coders, according to the proposal.
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“I think if nothing else we need to ensure we get fast speed, but never at the expense of security in the long run,” Render founder Jules Urbach said in a statement.
The Render network currently builds on the Polygon blockchain but has received strong support among its users for a Solana migration. Roughly 55% of users favor making the switch to Solana, while 14% of users would prefer the network remain on Polygon, according to a community sentiment poll included in the proposal. The other 31% of users supported migrations to other blockchains, including Aptos, Ethereum and Algorand, among others.
“The decision whether to continue with Polygon versus moving to Solana sparked a spirited debate between the pros and cons of each, with support for Solana's runtime, developer community, low transaction fees, and speed contrasting Polygon's centralization, reorg tendency, and user experience concerns,” the proposal reads.
The community review period will last for up to 21 days, beginning Monday.
Read More: Blockchain-Based Render Network Token Rising After Community Vote for New Burn-and-Mint Model
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