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According to some, the foundation of a healthy and thriving Web3 is decentralization.
Web2, in contrast, has been marked by the dominance of centralized big tech. Companies like Amazon.com Inc. (NASDAQ: NASDAQ:AMZN), Microsoft Corp . (NASDAQ: NASDAQ:MSFT) and Meta Platforms Inc. (NASDAQ: FB) control large swaths of the internet. Their server farms power the vast majority of websites and apps in use.
This centralization has reportedly led to many problems, especially surrounding privacy, security and censorship. And beyond these, basic reliability is at issue. The mistakes of a handful of engineers at these companies’ server farms could end up bringing down major cross-sections of the internet.
Advocates of a more free and open internet believe this system to be untenable. According to some estimates, just Amazon Web Services (AWS) hosts about 40% of the entire Web2 internet. Does this mean we’ve gone too far to turn back?
Decentralization Could Be Coming Back Big In Web3 Web3, if companies like Cudo Ventures have anything to say about it, will be decentralized. Cudo Ventures is building CUDOS, a platform that distributes the role that traditional server farms play across a vast network of individual computers using the power of the blockchain.
CUDOS has reportedly had a big year marked with new partnerships and important milestones. The underlying token of the project was just listed on Huobi, one of the largest cryptocurrency exchanges.
“Over the last year, the Cudos network has grown exponentially, demonstrating the enormous demand for environmentally friendly cloud and computation solutions. Our successful test net, which attracted thousands of developers, is a testament to our community’s immense support and commitment,” CEO Matt Hawkins said of the listing.
“The Huobi listing is the latest validation of our efforts toward realizing our goals and underscores our dedication to expanding global access to CUDOS. As a compute network powering blockchain and cloud by enabling anyone to contribute spare computing capacity, this listing expands our global coverage.”
The company expects the near future to hold much promise for the project. CUDOS plans to launch its mainnet within the next few months. Mainnet launch is one of the largest milestones in many Web3 project lifetimes. Cudos says it is taking steps to ensure the network is developer-friendly and easy to build on. And the project is adding utility to its token through staking and delegation options.
Looking beyond to the third and fourth quarters, Cudo Ventures plans to release the beta launch of CUDO compute, its distributed cloud-computing solution for Web3. The project will also offer a multi-sig wallet, critical to managing tokens, as well as increase its NFT offerings. And, perhaps most importantly, the project aims to have its validator network fully decentralized by the end of 2022.
If you are interested in learning more about Cudos, check out https://www.cudos.org/.
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