Cudos
Cudos is a blockchain network that bridges cloud and blockchain technology to unlock global computing power for users and developers. Cudos operates a layer-1 blockchain with a delegated proof-of-stake (PoS) consensus mechanism. The project makes computing more sustainable and cost-effective by utilizing spare computational resources.[1][2][3]
Overview
Cudos operates as a layer-1 blockchain utilizing a delegated proof-of-stake (PoS) consensus mechanism. This foundational layer forms the backbone of the Cudos network, ensuring secure and decentralized access to high-performance computing in a permissionless manner.[4]
By separating consensus from execution, the network empowers developers with superior application performance, a developer-friendly toolkit, and flexible asset management capabilities. As stated on the project's official website, Cudos provides users with robust cryptographic security, transparent public blockchain infrastructure, seamless cross-chain compatibility, and environmentally friendly, carbon-neutral transactions. Additionally, Cudos tackles scalability challenges both vertically and horizontally, offering a rapid consensus mechanism and supporting Inter-Blockchain Communication (IBC) protocols.[4][5]
Emphasizing sustainability, the project envisions a future where computing resources are utilized efficiently without waste. In alignment with the United Nations' 17 sustainability goals, Cudos is dedicated to creating a more sustainable computing ecosystem.[5]
Products
Smart Contracts
Users can learn to write and deploy Smart Contracts on the Cudos Blockchain and use it to implement the business and value logic of their applications.[6]
Cloud Infrastructure
Users can learn to spin up cloud infrastructure via Cudos Intercloud (CIC) and use it to power their applications with computing resources.[7]
Growth
In 2017, Cudos was launched. It was a pivotal year that marked the foundation of the project and the commencement of team building. By Q1 2019, the project introduced its beta platform, featuring a 100% monetization model to incentivize early validators and enhance network capacity.[8]
In Q4 2019, Cudos secured a significant partnership with AMD, a prominent technology leader. The partnership positioned Cudos as a global technology collaborator, working together to develop secure distributed computing solutions.[9]
In Q1 2020, the Mining Farm Management platform was launched, offering scalable compute solutions for mining farms and bolstering network security. The project also celebrated a significant milestone by surpassing 100,000 users, underscoring its expanding influence and user community.[10]
In Q3 2020, Cudos attracted major compute suppliers and buyers, establishing a robust global backbone capacity and deploying thousands of servers. Additionally, Q4 2020 marked a key achievement with the launch of Cudos's first major global partner, utilizing a white-label version of the software.[8]
In 2021, Cudos made advancements in enabling computing on validation nodes and introducing its compute validation and testnet. By Q2 2021, the project broadened its reach by offering layer-2 compute oracle services to Ethereum and Algorand.[11]
In 2022, the project launched the Cudos network's layer-1 mainnet. This transformation positioned Cudos as a layer-1 blockchain and L2 community-governed compute network, shaping its current identity and capabilities.[12]
$CUDOS Token
$CUDOS functions as a digital asset utilized within the Cudos ecosystem, serving as an internal form of currency for transactions and incentives for network participants. This native token plays a crucial part in ensuring the platform's operational smoothness and financial system. Token holders have the option to stake their tokens to reinforce network security, validate transactions, and receive rewards, ultimately playing a key role in the platform's self-sustaining economic cycle.[13]
Use Cases
- Governance: CUDOS token holders can participate in the network’s governance and decision-making processes. They can vote on proposals and upgrades.
- Staking: Holders can stake their tokens and receive rewards. The CUDOS Network utilizes a proof-of-stake consensus mechanism, that allows token holders to participate in network validation and earn rewards in the process.
- Rewards: Participants in the Cudos network, such as validators and ambassadors, can earn CUDOS tokens as rewards.
- Liquidity and Trading: CUDOS tokens can be traded on various cryptocurrency exchanges such as KuCoin, AscendEX, and HTX. Users can buy and sell CUDOS tokens.[13]
Tokenomics
Initial distribution:
- Ecosystem and community development 34%
- Team 20%
- Advisors 5%
- Private sale 2.22%
- Public sale (listing) 1.67%
- Strategic investors 3.33%
- Reserve 33.78%
Team
- Nuno Pereira-CBDO[14]
- Andrew Sturmey-CTO[15]
- Matt Hawkins-CEO[16]
- Lee Woodham-COO[17]
- Joan Garcia i Tormo-Director Product & software[18]
- Pete Hill-VP of sales[19]
- Clare Morris-Finance director[20]
- Emma Mkrtchian-Head of Web3 marketing[21]
