The network will determine whether to implement its new burn-and-mint equilibrium model on the Solana blockchain based on a community evaluation.
According to a statement on the network’s site, the Render Network Foundation suggested constructing its new burn-and-mint equilibrium (BME) model on the Solana blockchain on Monday.
The BME model, accepted by the community last month, mandates that users burn a certain quantity of RNDR, the network’s native currency, in return for non-fungible work credits provided by node operators.
According to the proposal, migrating to Solana might facilitate the deployment of the BME model by speeding transaction times, reducing transaction costs, and providing programmers with more flexibility.
Jules Urbach, the inventor of Render, stated, “I believe we should priorities speed, but never at the price of long-term security.”
The Render network is now based on the Polygon blockchain, but its members strongly want a conversion to Solana. 55% of users are in support of switching to Solana, while 14% would like the network to stay on Polygon, according to a community survey included in the proposal. The remaining 31% of users backed migrations to other blockchains, having as Aptos, Ethereum, and Algorand.
The proposal states, “The option to stay with Polygon or switch to Solana created a lively discussion between the benefits and disadvantages of each, with support for Solana’s runtime, developer community, cheap transaction costs, and speed contrasting Polygon’s centralization, reorg propensity, and user experience issues.” Beginning on Monday, the community review process will run up to 21 days.
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