🥊 Cudos facilitates a more decentralised and competitive cloud market ☁️
Almost ⅔ of all cloud infrastructure comes from Amazon Web Services (AWS), Microsoft, or Google. This high concentration could mean that competition within the marketplace is decreasing. Decreasing competition can be problematic for many reasons. Cudos’ decentralised cloud network can help overcome these issues.
Cloud infrastructure spending grew 36% in Q2–2021 to $47.0 billion according to the latest Canalys research. This was $5 billion higher than Q1–2021 and $12 billion higher than Q2–2020. The analytics firm also points out that AWS, Microsoft, and Google accounted for 61% of the total spend.
In economic theory, such a high market concentration can be considered an oligopoly. This is a situation where the top 5 firms account for more than 60% of the total market revenue. Obviously, the cloud infrastructure market is even more concentrated.
This could create many problems. Even if there is no collusion or market manipulation there could be other costs. For instance, top firms can command higher prices, which is not good for consumers. Moreover, lack of competition can stifle innovation and productivity and increase inequality.
At Cudos, we aim to challenge this with a more cost-efficient, scalable, sustainable, and decentralised cloud offering. With over 60,000+ globally distributed nodes across more than 145 countries, we benefit all sides.
Consumers win by saving up to 90% on their cloud infrastructure expenditure. Hardware owners win by instantly monetising their spare computing power. The environment wins thanks to better utilisation of resources.
Moreover, competitors are merely aiming to reduce their footprint. We, on the other hand, are proud to be 100% carbon neutral already.
So, if you, like us, want a more sustainable, fair, and decentralised cloud computing marketplace, join us on this journey now.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network being designed to ensure decentralised, permissionless access to high-performance computing at scale and enables scaling of computing resources to 100,000’s of nodes, by tapping into Cudos’ distributed layer 3 network. Being developed in the Cosmos ecosystem, the Cudos network will enable scalable compute and layer 2 oracles on all of the bridged blockchains, including Ethereum, Algorand and Polkadot. Most remarkably, Cudos can be used to provide Turing-completeness to Turing incomplete layer 1 networks.
The Cudos Network, being built on Cosmos, also supports the Inter Blockchain Communication (IBC) protocol. This ensures full integration in the thriving Cosmos ecosystem and access to all its users and features. The Cudos Network is a decentralised Proof of Stake (dPoS) network. This means that it has lower gas costs, high transaction throughput and more scalability compared with any PoW network, among many other benefits.