Introducing the decentralised cloud network Cudos
Back in 2019, our relationship with James and the team at Crypto AM was born over a late-night McDonalds following an investor event in Zurich.
The portions that night, whilst tasty, didn’t quite meet our expectations. So, a whole swathe of the guests made their way for a midnight snack. How fortunate that was in retrospect.
Fast forward two years and Cudos is now a fully-fledged member of the Crypto AM community. Founder James Bowater has since become an advisor and ambassador for Cudos.
In July, we had the great honour of sponsoring Crypto AM’s 3rd birthday party. At the event, 200+ industry guests came together in person for the first time in more than 17 months. The fact that, as I’m writing this, I’m wearing my ‘literal’ Crypto AM baseball cap courtesy of that summer event makes me smile.
Today, I am proud to announce that Cudos will be a Gold Sponsor and participant in the upcoming Crypto AM City of London Roundtables, London Blockchain & DeFi Summit and Awards event on September 29 and 30. It’s a privilege to work within this community-driven industry. We cannot wait to get stuck in next month for what promises to be a fantastic event (if any of their previous ones are to go by).
So who are we?
Cudos is a layer-1 blockchain and layer-2 computation and oracle network. In Layman’s terms, we’re building a decentralised cloud. It will offer traditional and blockchain consumers high-performance computing via the Cudos blockchain. We’re the Airbnb of cloud computing. I know it sounds cliche these days with many projects using the analogy, but it is accurate.
We have already scaled a distributed supply of nodes in more than 45 countries. We use the spare and dedicated computing power from unutilised servers, gaming PCs and mining rigs with the Cudo Miner application. Earlier this year, we embarked on the demand side development of our ecosystem.
Built on the popular Cosmos-SDK and Tendermint architecture, Cudos is a proof-of-stake network run by a globally distributed backbone of Validators. CUDOS token holders can already stake their tokens via wallet.cudos.org for a variable Annual Percentage Rate (APR), currently at ~26%. Incredibly, over 40% of the circulating supply has already been staked in under two weeks.
Next up is Project Artemis. It is our incentivised testnet in preparation for the mainnet launch later this year. Initially, our focus is on typical blockchain use cases spanning NFTs, DeFi and other low-intensity workloads. By mainnet v2, estimated for H1–2022, the network will start supporting higher performance use cases, including AI and video rendering.
Those at the Crypto AM summer party may have wondered why we sponsored Slammer — a British sci-fi thriller screening on September 10. Well, put simply, more industries are looking towards the benefits of blockchain and decentralisation.
Unfortunately, many are held back by the current cost and scalability issues of blockchain computation.
Overcoming these problems will help us achieve mainstream adoption. And that is exactly what we are delivering with the Cudos Network. The media industry, post-production, animation and live streaming are good examples of ‘traditional’ cloud consumers that will soon benefit from blockchain without losing cloud performance.
Pete Hill, VP of Sales, Cudos
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permission-less access to high-performance computing at scale. It enables the scaling of computing resources to 100,000s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.