Safety Deposits

Each node will have to send a safety deposit in the range of $1 to $20 (not decided yet) to the Renderhive Smart Contract. This safety deposit is one mechanism to prevent the creation of fake accounts, to limit spam on the render hive, to sanction fraudulent behavior of client or render nodes during the processing of render jobs, and as a payment guarantee for underestimated job costs. The safety deposit is locked in the smart contract as long as render jobs are executed or open for payment. If this is not the case, each user can withdraw the safety deposit at any time in the matter of seconds. As soon as safety deposits are withdrawn, the node will be ignored by all other nodes of the hive and, thus, it will not be able to participate in the network until its owner sends the safety deposit back to the smart contract.

The exact size of the safety deposit needs to be decided yet and can be subject to changes over time. However, this will never happen suddenly and without announcement. As soon as a governance model is established, changing the required safety deposit should also require a communtity vote.