Is CUDOS to Compute what Filecoin is to Storage?
Blockchain technology has been a hot topic in the last few years, innovation within the space never stops and improvements are always being made. Several projects are now working towards setting the foundations that will lead us into a new era of the World Wide Web, this new age is being called Web 3.0.
Web 3.0 will rely heavily on the use of machine learning, artificial intelligence (AI) and blockchain technology. The idea is to create more open, decentralized yet connected, and intelligent websites and web applications.
One project that has been making great strides to support the development of web 3.0 is Filecoin. Filecoin is a decentralized storage network that turns cloud storage into an algorithmic marketplace. The marketplace runs on a blockchain with a native token which also goes by the name “Filecoin”, miners earn by providing storage space to users. Filecoin has been described as the Airbnb of cloud storage — a peer-to-peer based exchange that essentially allows participants to rent out excess storage capacity in exchange for Filecoin tokens.
Here at CUDOS we’ve taken what Filecoin are working on to a whole new level, prominent figures in the blockchain community have already begun to speak about this.
Where Filecoin aims to facilitate a network for distributed storage capacity, CUDOS will facilitate a network for distributed computational power, giving users the ability to rent out excess compute power to network participants in exchange for CUDOS tokens. With the continuous development of Web 3.0 protocols, such as machine learning and artificial intelligence (AI), the demand for computational power continues to increase. The current options available to business and projects that are centralized and expensive, CUDOS gives businesses the opportunity to get access to all the compute power they need for a fraction of the cost. You could say CUDOS is the Airbnb of compute power. To find out more about our project please visit www.cudos.org or visit one of our social media channels via the links below.