DeFi, Trade Reports

Cudos Unites Blockchain and Cloud

Cudos is creating a decentralized blockchain computing platform. As a result, blockchain developers and consumers will have access to high-performance computers in early 2022. This will abolish the blockchain industry’s reliance on Amazon Web Services (AWS), Azure, Google Cloud, and Alibaba’s current centralized oligarchy.

Anything more heavy than the low data demands of decentralized finance transactions, minting and trading NFTs, data oracle services, and API calls will have an alternative.

Cudos: The Need of the Hour

The computing demands of a technologically advanced world place a significant ecological strain on the planet. Cloud computing might theoretically mitigate this impact by allowing for more efficient resource use and partial reliance on renewables. Yet, as of 2020, Google, one of the biggest providers of such services, consumes around 12.4 TWh of electricity each year, equating to 5.1 million tonnes of CO2.

To put things in perspective, a normal car emits about 4.6 tonnes of CO2 every year. In other words, Google emits the same amount of CO2 as 1,200,000 cars per year. This is greater than the total number of new automobiles registered in the UK each quarter.

Furthermore, this does not account for the impact during the construction of a data centre or the manufacturing of the gadgets it houses.

Another important component exacerbates the difficulty.

The computational resources that are already accessible are not being utilized effectively. Even data centres, according to estimates, only use IT hardware around half of the time. In the United Kingdom, for example, office computers are utilized for an average of 6.5 hours per day, with 75% of the time they are idle. There are also 2 billion PCs, 2.7 billion active cellphones, 30 billion IoT devices, and 138 million gaming consoles, all of which can process data. They are, however, idle the majority of the time, creating no value.

Finally, 35% of cloud computing power is squandered. This leads to an annual expenditure of around $62 billion that is more than necessary.

As a result, it’s understandable to wonder why these problems and inefficiencies have yet to be remedied. To be sure, blockchain can aid in decentralization. However, it currently has scalability concerns and hefty transaction fees. On the supply side of the centralized cloud, services come at a high environmental cost, whereas on the demand side, excess spare capacity and wasteful use abound.

Evidently, there is currently no viable technology that can consistently and sustainably decrease wasted computing energy on a worldwide scale.

Cudos’ Solution

Cudos’ aim is to overcome the aforementioned blockchain and centralized cloud restrictions. They provide scalable computing technologies that address two obvious opportunities.

First, the Cudos Network is a layer 1 blockchain in the Cosmos ecosystem, which means it uses a delegated Proof of Stake (dPoS) consensus algorithm. PoS is, by definition, environmentally friendly. It does not require as much energy as the Proof of Work (PoW) protocol for crypto mining. The Cudos Network can effectively operate as a layer 2 solution for other blockchains, solving scalability and throughput difficulties and bringing Turing-completeness to blockchains that lack it by bridging into other networks and supplying data and compute oracles.

Second, Cudo Ventures is developing a platform for automating the management and trade of unutilized computing capacity. This increases the supply and demand sides of processing power in existing cloud service offerings. Cudo’s solution will thus provide long-term viability and financial reward, as well as improved and individualized services. Cudo’s ultimate goal is to bridge the gap between the two by introducing the first-ever novel Layer 3. This would allow blockchain networks to do any computing job in real-time, effectively combining cloud and blockchain technologies.

Cudos Network

Cudos is creating its decentralized peer-to-peer (dPoS) network in the Cosmos ecosystem, as previously stated. That means Tendermint Core enables the Cudos network and benefit it from all of the community’s and developers’ efforts, including features like the Inter-Blockchain Communication Protocol (IBC). Because smart contracts may request and use off-chain processing, the Cudos Network will provide a Turing-complete solution that can run any code.

Their network, in which the CUDOS token serves as the native utility token, is critical to Cudo’s expansion. They’re willing to offer the same user-friendly approach to constructing smart contracts, dApps, and minting NFTs as their miners enjoy with CudoMiner to smart contract development, dApp development, and NFT minting. They aim to abstract the complexities so that consumers and developers (for NFT, games, and other apps) can get to tokens faster.

They will have a doorway to and from Ethereum thanks to the Gravity bridge established in the Cosmos Ecosystem. This is great news for the environment, as the Cudo network footprint based on Cosmos is far less than Ethereum’s.

Cudos now has a large following of dedicated partners, token holders, and miners, and the Cudo Network opens up new possibilities. Their Mainnet is about to launch, and it will serve as the enabling layer for their innovative Cudo Compute platform.

Using the Gravity bridge developed in the Cosmos Ecosystem, they will have a gateway to and from Ethereum. That’s excellent news for the planet as the Cudo network footprint, a Cosmos-based chain, is considerably smaller than Ethereum’s.

Today, Cudos enjoys enormous support from loyal partners, token holders, and miners — the Cudo Network opens up future opportunities. Their Mainnet is just over the horizon, and when it lands, it will also be the enabling layer to their novel Cudo Compute platform.

Matt Hawkins: The Mind Behind CUDOS

Hawkins is an entrepreneur who enjoys building fast-growing technology businesses. He’s well known for his passion for developing innovative technology and services to improve the world we live in.

He started Cudos in 2017 designed to be the Uber of computing and provide the world with more sustainable cloud computing, by utilizing the world’s computing power and helping individuals and good causes. This was followed by CUDOS enabling the world’s computing resources and data to power blockchain.

Hawkins previously founded C4L in 2000 which proved to be UK’s fastest-growing ISP’s. For his startup, he won many fast-growth awards from Deloitte EMEA Fast 500, Deloitte UK Top 50, inc. Times Tech Track 100 and more. During the 15 years of growth, he won over 50 awards ranging from customer service to helping local communities.

Meet the Creative Team at CUDOS

The Strategic Investors of Cudos

Double Peak

Double Peak Group is a family office that specializes in digital assets and blockchain investing. Asset Management, Banking & Payments, Cross-Chain Platforms, CeFi-DeFi Bridges, Infrastructure Protocols, Investment Funds, Gaming/NFTs, Privacy/Security, The Metaverse, Trading, and Exchanges are just a few of the sectors where Double Peak has invested.

Blocksync Ventures

Blocksync Ventures wants to invest in ground-breaking decentralized innovation projects. Its major goal is to function as a catalyst for the adoption of breakthrough blockchain-based technology for the welfare of the world.

CSP DAO

CSP is a decentralized autonomous organization (DAO) that focuses on investment opportunities that will usher in the internet’s next paradigm change. CSP DAO supports extraordinary project teams who are using blockchain technology to usher forward the internet’s next architectural shift through a research-driven and rigorous bottom-up investing process.

Animoca Brands

Animoca Brands is a digital entertainment, blockchain, and gamification leader and is ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021. Animoca Brands creates and distributes a diverse range of products, including the REVV and SAND tokens; original games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products based on popular intellectual properties such as Formula One®, Disney, WWE, Power Rangers, MotoGPTM, and Doraemon. Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds are among Animoca Brands’ blockchain investments and partnerships. The Sandbox, Quidd, Gamee, nWay, Pixowl, and Lympo are some of its subsidiaries.

DuckDAO

DuckDAO is a community-backed digital asset incubator that equips potential early-stage crypto companies with the expertise, financial resources, and marketing muscle they need to accelerate their growth.

$CUDOS Token

The CUDOS token is an Ethereum ERC-20 token that runs on the Ethereum Network. All participants can stake and receive rewards and discounts using the CUDOS token and their network. The CUDOS token can also be used as a qualifying and discount vehicle in addition to all of this. The CUDOS Token is a critical component of the Cudos Network; yet, because it is built on Ethereum’s blockchain, it may be limited by Ethereum’s present constraints.

Token Release Schedule

CUDOS tokens will be released over a ten-year period until 100% of the total 10 billion CUDOS have fully vested and are in circulation. Over the course of the ten years, the release schedule slows down, with 25% released by January 2022, 50% by January 2023, 75% by January 2025, and 100% not until January 2031.

Marketcap

With the alt season in full gear, it’s no surprise that many of us are obsessively checking the listing site graphs and rankings. Due to its recent inception and limited initial circulating quantity, CUDOS has a low market capitalization. The marketcap is computed by multiplying the number of tokens in circulation by the token price. The marketcap has the ability to grow as more tokens are produced each day. This is required in order to improve the ranks, which will attract more users and expand the CUDOS network.

While the released tokens are categorized as circulating supply, this does not necessarily imply that they are liquid, as a significant portion is locked in staking contracts or set aside for rewards and bonuses.

Staking

Validators who run a CUDOS Validator Node (CVN) must stake at least 2 million CUDOS each. Although there will be 100 CVNs in total, we are aiming for 30 for the testnet in Q2. That’s a minimum of 60 million CUDOS in circulation locked up in staking contracts. Non-validators will be able to entrust their tokens to a CVN for staking. Their goal is to stake 75% of all currently circulating coins.

Staking Rewards & Bonuses

An allocation has been put aside for paying staking awards and bonuses every year for the next ten years. The first-year staking reward pool is worth 306 million CUDOS. This will be distributed proportionally to everyone staking on the network. Based on the length of the staking contract you choose, you will receive a 25%, 50%, or 100% bonus on the staking rewards you have earned as a staker.

Circulating Supply

To summarise, within the first 12 months, 25% of the total CUDOS token supply, or 2.5 billion tokens, will enter the circulating supply. Each day, 6.85 million CUDOS are added to the circulating supply.

Locked Circulating Supply

Amount in CUDOS

1st year staking rewards306,000,000 $CUDOS Tokens
1st year staking bonuses150,000,000 $CUDOS Tokens
1st year estimated total staked1,875,000,000 $CUDOS Tokens
TOTAL2,331,000,000 $CUDOS Tokens
Liquid circulating supply169,000,000 $CUDOS Tokens

Utility

Users will pay for computing with CUDOS tokens once the mainnet launches later this year, and suppliers will receive CUDOS tokens in exchange for their computing power. To enable services through the network, it is consequently necessary to have liquid CUDOS tokens.

CUDOS is, after all, a utility token!

Where can you buy CUDOS?

At the time of writing, AscendexKuCoinGate.ioUniswap, and Bittrex are the major exchanges for CUDOS trading.

Despite being available on these top crypto exchanges, the CUDOS token is also a part of a one-of-a-kind staking and farming solution – UniFarm.

UniFarm allows investors and DeFi initiatives to create value by allowing them to stake one token and gain numerous tokens as a result. UniFarm uses gamification to encourage token holders to stay long-term investors and expose projects to a new group of interested investors.

CUDOS token is part of one of the latest UniFarm Cohort 28, where the Total Reward Pool Size is $100k. The reward pool per project is $25k, and $250k worth of tokens per project can be staked.

CUDOS pool, at UniFarm, is offering up to 250% APY for early investors. However, a minimum of 36% APY is guaranteed.


UniFarm is a one-of-a-kind staking solution where the best projects in DeFi space come together to provide value to investors. UniFarm allows you to stake one token but earn multiple high-value tokens, so in addition to a great APY, your returns are automatically diversified as well.

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