Quite often, people look to blockchain technology and its decentralized properties as a solution to issues faced in traditional industries. This is true for CUDOS, which looked to rectify the high costs and environmental impact of cloud technology as we know it today.
There are billions of devices worldwide with latent computing power that go underutilized. CUDOS is looking to harness that power to create a distributed computing platform for both blockchain developers and buyers of cloud services to access suppliers of computing power using their idle hardware.
What is CUDOS?
CUDOS was founded in 2017. Its use case is two-fold: first, it works as a layer 2 oracle that connects blockchains to the outside world. This is achieved through the use of CUDOS Validator Nodes which run blockchains in parallel off-chain with the ability to reach a result consensus as needed.
The second use case is as a scalable, distributed compute network solution that offers a greener and more cost efficient alternative to traditional cloud services. This is all achieved through the utilization of idle hardware.
CUDOS aims to connect these two use cases into one that seamlessly integrates its cloud solutions to the blockchain one, acting as a novel layer 3 to blockchain networks.
How Does CUDOS Work?
With so much hardware remaining idle around the world at any one time, CUDOS saw the opportunity to use this latent computing power as an alternative to the current cloud providers. In order to connect suppliers with buyers and allow them to monetize their hardware’s idle time, CUDOS built a marketplace along with an extensive ecosystem to support the platform.
This is all possible through the use of smart contracts, which enable CUDOS to run a layer 2 oracle. This means that blockchain developers are able to access off-chain data and computing power to provide further functionality in their products.
Who Created CUDOS?
CUDOS was created by its current CEO, Matt Hawkins. Hawkins is a serial tech entrepreneur, with his previous ventures including the likes of C4L, which ranks as one of the biggest cloud providers in the UK. After selling the company, he went on to create CUDOS, building on his experience in cloud technology and introducing a blockchain flair into the mix.
Today, the project is being run by a talented team with Matt Hawkins at the helm, and is supported by a number of notable advisors that span numerous industries.
What is The CUDOS Token?
CUDOS is described as the qualification, discount, and staking token of the CUDOS ecosystem. Here is the token distribution for CUDOS:
Ecosystem & Community Development: 34%
Reserve: 33.78%
Team: 20%
Advisors: 5%
Strategic Investors: 3.33%
Private Sale: 2.22%
Public Sale (Listing): 1.67%
What is The CUDOS Token Used For?
The CUDOS token has a number of uses in the CUDOS ecosystem. It’s key functions include staking to become a validator node, staking to support other validator nodes, and as the medium of exchange that powers the on-chain CUDOS Network.
It can be used for staking to receive fee discounts or to share the revenue from fees, as well as staking to qualify for jobs and earn even greater revenue. Ultimately, the value of the CUDOS token is correlated to the activity of the network.
Closing Thoughts
CUDOS offers a very promising service that spans both blockchain and traditional cloud solution spaces. All parties involved, the suppliers and the buyers, are able to benefit, with suppliers getting paid for offering their underutilized computing devices and blockchain developers getting a connection to the oracle and the computing power they need to get their project up and running.
As with all new projects, however, there is the question of whether CUDOS can maintain the balance between consumers and suppliers on their platform. Seeing the current level of engagement by the community and a thorough roadmap for the coming year, however, there is a lot to be excited for with CUDOS.
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