Breaking News
Investing Pro 0

Cudos' Mainnet Launch: Key Milestone For Cloud And Blockchain

Cryptocurrency Jun 16, 2022 14:41
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Cudos' Mainnet Launch: Key Milestone For Cloud And Blockchain
 
KECR
+3.06%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BLKCF
0.00%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

The highly anticipated Cudos mainnet is now live! The United Kingdom-based decentralised computing network unites cloud computing and blockchain in an open, multi-layered ecosystem that promises to power the deployment of dApps on a fully decentralised computing architecture. Cudos, a potentially disruptive project, aims to go beyond peer-peer file storage by globally recycling dormant computing hardware and providing environmentally-friendly cloud resources as a service over a blockchain.

The Cudos ecosystem envisions a scalable platform driving the creation and deployment of diverse Web3 solutions by combining a highly secure blockchain with globally distributed computing hardware to address present and future technological and environmental concerns. A striking criticism of the broader Web3 industry has been its reliance on centralised entities for data storage, with critics highlighting some of the potential risks such as insecurity and unreliability of centralised hubs. Cudos proposes to solve this problem by distributing computing resources that blockchains can reliably leverage to supplement on-chain transactions.

Commenting on the launch, CEO Matt Hawkins stated, “The release of the mainnet ushers in a new era for our network and the blockchain and cloud sectors as it sets the underlying architecture for deploying decentralised applications, non-fungible tokens, decentralised financial instruments, and the metaverse on a potentially expansive cloud infrastructure. The support of our community has been immense from the get-go, and we are delighted to achieve this critical milestone in the Cudo journey collectively. Developers and users may now employ Cudos for scalable and affordable decentralised solutions and contribute to the network's growth and success.”.

A network of alliances Some of Cudos’ most important partnerships over the past few months include a massive link-up with Tingo Holdings to tackle poverty by enabling compute monetisation in Africa. Earlier in November, Cudos teamed up with LDN UTD to deliver expanded access to gaming for people around the world. These and other successes were further bolstered by a strategic partnership with ChainLayer, a major Validator-as-a-service provider whose equity stake at Cudos enabled access to technical support and expertise. By mid-December, the network had secured another crucial partnership with Glitter Finance, allowing a potential Cudos-Algorand integration.

A tripartite alliance with GOATi and AMD brought compute monetisation to gamers in a first-of-its-kind set-up for blockchain gaming. The partnership rewarded players for providing spare compute capacities when idle. This demonstrated Cudos’ utility beyond the blockchain space.

Related: Cudos’ ever-expanding network of partnerships and alliances

"I’m thrilled to see the Cudos Network go live, and I’m already looking forward to watching the ecosystem build-out with our partners over the next few months and beyond as we open up on-chain compute functionality. CUDOS holders can now migrate over to the native chain and contribute to the network's security by delegating their staked tokens to one of our numerous Validators and exploring the entire Cosmos ecosystem via IBC. Congratulations to the Cudos team for pulling this off and our wider community for encouraging our development and supporting with the testnet the past few months as we finalised the code for mainnet launch", says Ethan Illingworth, Cudos’ Blockchain Product Manager.

Future roadmap A Cosmos-based chain governed by a delegated proof-of-stake (dPOS) model, Cudos aims to launch its computing platform in Q3 2022. Integrated with its blockchain, this would serve as the infrastructure backbone for a broad spectrum of Web3 solutions ranging from DeFi bridges to tooling support applications and metaverse-enabling architecture. Cudos will be used to build and support a plethora of decentralised applications. The network will facilitate the development process by providing developers with user-friendly tools and accessible documentation repositories.

Cudonians will ultimately benefit from a robust ecosystem that combines a Layer 1 network capable of supporting all of the dApps listed above with a Layer 2 compute infrastructure. The latter will provide cloud computing resources to Cudos and other blockchains that can benefit from high-performance computing to supplement on-chain transactions. The ecosystem, fuelled by the CUDOS token, will profit from the compute layer's widespread adoption and utility.

Related: Exploring the 2022 Cudos roadmap

Learn more and join now!

About Cudos Cudos is powering the metaverse bringing together DeFi, nonfungible tokens and gaming experiences to realize the vision of a decentralized Web3, allowing all users to benefit from the growth of the network. It’s an interoperable, open platform launchpad that will provide the infrastructure required to meet the thousand-fold higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a layer-1 blockchain and layer-2 community-governed compute network designed to ensure decentralized, permissionless access to high-performance computing at scale. Its native utility token CUDOS is the lifeblood of the network and offers an attractive annual yield and liquidity for stakers and token holders.

For more:

Website, Twitter (NYSE:TWTR), Telegram, YouTube, Podcast, Discord, Medium

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Cudos' Mainnet Launch: Key Milestone For Cloud And Blockchain
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email