AMA Satoshi Club x Cudos, July 12th
We were delighted to welcome our guest from Cudos. The AMA took place on July 12th, 2021 and our guest was @blockmatt .
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with our good friends from Cudos.
Paul Mont | Satoshi Club: Today’s guest is @blockmatt! Welcome! Great to have you here!
BlockMatt (Will never DM you first): Hey there! It’s great to be here
BlockMatt (Will never DM you first): thanks for having me!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @blockmatt!
Paul Mont | Satoshi Club: The pleasure and honor is all ours
Paul Mont | Satoshi Club: How are you today?
BlockMatt (Will never DM you first): I’m doing great today (especially as i’m and England football fan haha)
Gold Rocket | Satoshi Club: a lot of time has passed since our last meeting with Cudos team in January.
BlockMatt (Will never DM you first): Yes we’ve made a lot of great progress since then
Paul Mont | Satoshi Club: And we’re darn eager to know more
BlockMatt (Will never DM you first): Brilliant!
Gold Rocket | Satoshi Club: it was amazing soccer
. we can congratulate Paolo. he is from Italy
BlockMatt (Will never DM you first): Haha congratulations Paolo!
Gold Rocket | Satoshi Club: So let’s follow the protocol
Paul Mont | Satoshi Club: Yes, honestly it could have gone either way in many situations. I think England could have ended being the winning team in many occasions, really
Gold Rocket | Satoshi Club: Let’s start!
Introduce yourself please. How did you get to be involved in crypto & Cudos?
Tell us please about your position in Cudos?@blockmatt
BlockMatt (Will never DM you first): Sure
BlockMatt (Will never DM you first): Hi evereyon I’m Matt Hawkins, CEO and founder of Cudos.
My background is having previously built tech and internet businesses since the late 90s and inception of the internet. My last business I previously built was called C4L which was one of the UK’s largest cloud and data centre providers. We ended up providing 1% of the UK’s infrastructure and had a global backbone providing connectivity around the world. We ended up being the UK’s data centre largest marketplace.
BlockMatt (Will never DM you first): Our aim has been to build a global compute network which powers blockchain and traditional computing. By using the spare computing that is available in the world of over 500 million suitable and underutilised devices to create a greener cloud computing that exists today.
Gold Rocket | Satoshi Club: In fact, Сudos is one of those amazing projects that we love very much at Satoshi Club.
BlockMatt (Will never DM you first): That’s fantastic, we love working with you guys as you have one of the best communities in crypto!
Gold Rocket | Satoshi Club: Thanks for your kind words
Paul Mont | Satoshi Club: We know that the actualy cloud computing panorama is vastly inefficient and Cudos aims to change that
BlockMatt (Will never DM you first): Absolutely!
Paul Mont | Satoshi Club: I’d love you to comment on that — and since the very first question from our community is right onto the topic, I’d say let’s get on with it, shall we?
Gold Rocket | Satoshi Club: Well! You make really good intro!
Gold Rocket | Satoshi Club: Thanks
BlockMatt (Will never DM you first): Thanks!
Gold Rocket | Satoshi Club: We will have a question selected for the Part 1. Ready to start?
BlockMatt (Will never DM you first): Yes I’m ready
Q1 from Telegram User @orlemys
On your website you say that one of CUDOS platform benefits, it’s that the ‘Environment Wins’ because you would be making better use of the great numbers of underutilized hardware. However, all crypto-related procedures, whether it be blockchains and nodes, or money-making cases like farming and staking, are extremely harmful to the environment. So, how is making use of idle IT hardware for crypto, more beneficial to the environment? Why did you decide to market your project like this? What are the exact methods you use to make your platform more eco-friendly, if it is, and why haven’t we seen this method adopted to all crypto protocols?
BlockMatt (Will never DM you first): Great question!
Firstly by using underutilised hardware we can reduce the carbon footprint of the cloud industry dramatically! These underutilised machines are currently running everyday all accross the world contributing to CO2 emmisions without adding any value to the world. By using this hardware, not only does it reduce the need for additional hardware to be produced it also contributes towards a more efficient ecosystem.
As well as that our network will be a proof of stake network, which cuts our carbon footprint by a large amount in comparison with proof of work networks.
We’ve also recently partnered with ClimateTrade who will be supporting us in our mission to become a carbon neutral blockchain, which you can find more on here: https://finance.yahoo.com/news/cudos-partner-climatetrade-become-carbon-123000249.html
Gold Rocket | Satoshi Club: This is a very good partnership. I know you have a lot of influential partners. Want to share with us?
Paul Mont | Satoshi Club: This is not only a desirable improvement, instead it is a necessary change. The world’s moving towards eco-sustainability. Really, CUDOS to you guys!
Gold Rocket | Satoshi Club: Сudos is green!
BlockMatt (Will never DM you first): Thanks guys!
We have many great partners and advisors, including, AMD,Algorand, Animoca Brands, Ultra, Outlier Ventures and many more!
We are a key partner of AMD , the chip provider. Our software is running their blockchain partnerships, also we are releasing in a few weeks and AMD branded version of our software enabling anyone to monetise their hardware. We get access to their entire community. We work closely with their R&D team. We are bringing out an enterprise version of the software later in the year enabling their enterprise clients to use our network.
We also have great advisors like Chris Deering the former CEO of Sony Playstation, helping us to expand the world of distributed computing across as many hardware types as possible.
Gold Rocket | Satoshi Club: It’s really amazing
Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question?
Paul Mont | Satoshi Club: I’m indeed impressed by the long list of quality partnerships and reputable backers behind the project. Amazing is the right word!
Q2 from Telegram User @victorogb
The Cudos network, over the course of it’s development would operate a marketplace for DApps which would be used by any developer requesting work through the Cudos smart contract. It is also stated that Cudos will allow developers publish their DApps on it’s network. Even as these services and marketplace are highly commendable, are there specific usecases and genres to the type of DApps available in the Cudos Marketplace, and since Cudos integrates only with Ethereum and Algorand 1st layer networks, wouldn’t this limit the number and type of developers willing to publish their DApps on your network, and how can these developers earn a tangible revenue from their published DApps?
BlockMatt (Will never DM you first): Cudos is built using the Cosmos SDK and Tendermint architecture. This not only provides speed to market due to the well established building blocks available, but it also provides us with a protocol providing governance over the network. In future releases we absolutely want our community to be able to vote on key decisions and also network healthiness… i.e. validators can be voted in and out based on performance, to ensure the network is always at it’s strongest.
Cudos itself is a network for developers to build on as you mentioned, and it will become a blockchain for new projects to launch on (token). Using the Tendermint architecture, there are a number of modules including NFT, oracles, governance, etc that we will support.
So for NFT’s specifically, whilst our network supports NFT issuance and we are bridging to Ethereum to support the ERC 771 token format, the creation of NFTs or the developers of NFT marketplaces will be users of the network rather than ourselves. Our focus is on building the foundation and providing the tools for these developers/consumers.
Liquidity is of course important for a network to succeed with use case like NFTs. We are therefore working with a number of exciting projects and platforms that already have an NFT user base. Whilst I cannot share details yet, the use cases stretch across entertainment and sports.
Gold Rocket | Satoshi Club: Thanks for great answer!
Paul Mont | Satoshi Club: Yes, very in-depth, thank you very much!
BlockMatt (Will never DM you first): No problem
Paul Mont | Satoshi Club: By the way, will there a pre-determined service pricing to enjoy Cudos services?
Gold Rocket | Satoshi Club: Everything is clear to me! if Paolo has no additional questions, I suggest jumping to the next question
Paul Mont | Satoshi Club: And also, if so, will you accept fiat and crypto as well?
BlockMatt (Will never DM you first): We’re still working on the specific details but we will definitely accept crypto!
BlockMatt (Will never DM you first): as well as fiat.
Paul Mont | Satoshi Club: Great! Thank you very much for your answers @blockmatt
Gold Rocket | Satoshi Club: By the way, Paolo and I recently discussed that we would like to have tokens in the crypto portfolio. where can we buy $CUDOS
Paul Mont | Satoshi Club: Yes, that is indeed a very important question, thank you very much Gold
BlockMatt (Will never DM you first): That’s great! You can get your hands on CUDOS tokens on Uniswap, AscendEX (formerly known as Bitmax), Kucoin and Gate.io
Gold Rocket | Satoshi Club: Thanks for sharing
Gold Rocket | Satoshi Club: I suggest moving on to the next question
Paul Mont | Satoshi Club: Here we go
BlockMatt (Will never DM you first): Let’s go
Q3 from Telegram user @Jmagsss
First of all, I must congratulate you for the successful implementation of the Cudos’ Private Testnet, “Cognitum”. My question is about the current public testnet which is the “Somniorum”. Can you share with us any updates of this testnet, how is it going and what can we expect after its successful implementation? Also, can you tell us your preparations for the anticipated upcoming of “Ingenii” Mainnet?
BlockMatt (Will never DM you first): Thank you! and great question!
We’ve made a lot of great progress with our testnet, which you can find out more about here: https://medium.com/cudos/cudos-labs-cognitum-testnet-update-08-07-2021-b16f6113e93d
While Ethereum is the first Layer-1 blockchain we plan to interoperate during our Mainnet launch, we plan to expand our compute offering to an ever wider array of DLT networks. On the Cudos Network, developers, individuals and businesses will be able to deploy next generation smart contracts that leverage Ethereum Virtual Machine (EVM) and Ethereum Web Assembly(eWasm)-based smart contracts with equal security assurances to traditional blockchain networks, but with the added benefits of faster transaction speed, fundamentally lower transaction costs, and the ability to design special purpose workflows that extend beyond the current limitations of Solidity as a smart contract design language. This includes the pioneering ability to embed high performance compute workflows into the very fabric of the next generation of blockchain smart contracts, unlocking an extensive array of additional use cases.
Paul Mont | Satoshi Club: Thank you for the detailed answer
Gold Rocket | Satoshi Club: Thanks! It’s really great answer
BlockMatt (Will never DM you first): My pleasure
Paul Mont | Satoshi Club: By the way, are there any bounty programs and incentives for Testnet users currently or in store for the near future?
BlockMatt (Will never DM you first): Definitely, we’re currently building out the incentive structure and we’re working closely with Bugcrowd to develop a bug bounty programme to further reinforce the security of our network.
Paul Mont | Satoshi Club: One more reason to closely follow CUDOS updates
BlockMatt (Will never DM you first): Absolutely!
Paul Mont | Satoshi Club: Thanks again for your answers @blockmatt! Next question is ready to be answered. Are you ready?
BlockMatt (Will never DM you first): Yes, bring it on!
Q4 from Telegram user @ysasoma
In your web site you mentioned the CUDOS Validators and indicated that us, as users, we can BUY or RUN an approved CUDOS validator server, which will give us a series of benefits. Could you please expand a little more on the information related to these Validators, how useful are they within the CUDOS network, what should we do to activate this service and how often should it be renewed?
BlockMatt (Will never DM you first): Great question!
The Cudos blockchain’s ability to leverage a strong community of validators with robust node infrastructure, who in turn assure users of the Cudos Network a high level of confidence in the various enterprise and developer use cases that are subsequently deployed on the network. What makes the Cudos Network stand out from other blockchains is the deep level of integration for high performance compute capacity at the very core of the network.Validators, meaning individuals who have financially committed funds through a process known as staking, notarize, and in fact validate, every transaction proposed onto the network with high availability and trust levels that are assessed in a real-time and predictive manner. The Cudos Network rewards the most performant validators with predictable income streams and rapidly removes bad actors from its Proof of Stake network in order to assure a greater level of security for all participants. The combination of these factors, incentivise any individual today, from financial investors to data-center or compute infrastructure providers, to interact reliably on the Cudos network to either buy or sell compute capacity at scale. Validators and Rewards Validators play a special role in the Cudos Network’s day to day workings. They validate blocks, perform complex security checks on proposed transactions, interact with other stakeholders in various Governance votes that ensure the network’s security, integrity and viability on an ongoing basis. In addition to this, the Cudos Network’s bespoke architecture provides metering and high performance compute in a programmatic manner which heavily depends on the network’s validators being highly available, highly performant, and retain their bona fides as good actors over time.
Gold Rocket | Satoshi Club: The benefits are obvious!
Paul Mont | Satoshi Club: Wonderful, detailed answer thank you!
BlockMatt (Will never DM you first): We think so too!
Gold Rocket | Satoshi Club: Thanks for your answers. Ready for the next question
BlockMatt (Will never DM you first): I’m ready
Q5 from Telegram user @Niko518
We are all aware of it. The majority of projects have a slew of internal risk and security policies in place. Can you tell us about the security features of CUDO? Is it possible that CUDO will be centralized, or is this project entirely decentralized or “anything in-between”?
BlockMatt (Will never DM you first): Right now we have around 30 reputable and trusted validators spread accross the globe. W aim to have 100 by the end of the year and after that we’ll open up the network to an unlimited amount of validators, to further decentralise the network.
All of our smart contracts are audited internally and externally by Certik and Limechain, and on top of that we will be hosting many bug bounties to further enhance the security of our network. Security is a high priority for us!
Gold Rocket | Satoshi Club: Safety first
BlockMatt (Will never DM you first): Exactly!
Gold Rocket | Satoshi Club: You have a great goals
BlockMatt (Will never DM you first): Thank you
Gold Rocket | Satoshi Club: I really like that you are ambitious and consistent
Gold Rocket | Satoshi Club: Do you want to proceed to the last question of this part?
BlockMatt (Will never DM you first): absolutely
Q6 from Telegram User @andrey_seleznov
I’d like to learn more about the CUDOS foundation! It aims to support developers who are willing to contribute to the development of blockchain technologies by developing improvements and applications for the CUDOS network. This is a great initiative but I am sure there will be some bad actors posing as developers hunting for the money. How will CUDOS review and filter all the applications and pick the candidates who will receive funding? Will there be a preference to certain fields where applicants are more likely to get a grant, such hot area as DeFi comes to mind. Thank you!
BlockMatt (Will never DM you first):
As we’ve partnered with great companies such as AMD, Ultra and Animoca Brands NFT’s and gaming is a vertical that will be very popular on our platform, for which there will be several great oppurtunities for developers. Defi is definitely a hot area which is very aligned with many of our partners.
We will have support from Limechain and our internal product team when it comes to auditing the network and removing bad actors.
Gold Rocket | Satoshi Club:
You thought it out really well!
Paul Mont | Satoshi Club:
Definitely two of the top and reputable players in the space, great!
Paul Mont | Satoshi Club:
Thank you very much for the clear answers @blockmatt! You’ve been outstanding so far!
BlockMatt (Will never DM you first):
Part 2 — live questions from the Telegram community
Q1 from Telegram User @sweetdoge
What is Cognitum and how can I test it? Are there any way to join it with metamask and kovan network?
BlockMatt (Will never DM you first): Cognitum is the first phase of our testnet, there will be metamask intergration once we open it up to the public, keep an eye out for some more news regarding this coming very soon!
Q2 from Telegram User @Rakshitx5
Does the Name Cudos mean Kudos?
BlockMatt (Will never DM you first): Cudo is latin for Coin /money, Kudos means good essentially, and we want to create good and better use of global computing and enable anyone to earn off their hardware and items they purchase, hence the merging of the 2.
Q3 from Telegram User @cryptofollower
Why did you choose AMD as your chip partner and not intel or Nvidia? And are you using cpu or gpu’s?
BlockMatt (Will never DM you first): AMD are very established in the hardware space and are very forward thinking when it comes to blockchain technology, they even now have a blockchain department, which makes it a very good fit for us. We are also working with AMD to add SEV to the validator network providing an extra layer of encryption.
Q4 from Telegram User @nitrogenpower
Is Cudos project built in UK? UK recently blocked Binance. How do you deal with the regulations of United Kingdom?
BlockMatt (Will never DM you first): This is a great question, we have a great team of industry experts and legal experts that continiously work to ensure that we are compliant and within the parameters set by regulators so we are very confident in termas of where we stand with regulators.
Q5 from Telegram User @Kabirkapoor9
How anyone can contact CUDO team for collaboration? Do you have any email? Or any other media link for this?
BlockMatt (Will never DM you first): Sure please forward all enquires to email@example.com
Q6 from Telegram User @Ashia_24
Last January, CUDOS held an AMA with Satoshi, so what progress has CUDOS made so far, what’s new?
BlockMatt (Will never DM you first): Since then we’ve brough on board 30 validators. Our team is close to double the amount of employees since then. We’ve listed our token on 4 popular exchanges. Launched our private testnet and we’re now in the final phases of the rollout of our staking platform.
Q7 from Telegram User @csgonub
Do you listed CUDOS on any centralized exchange and if yes what do you recommend us to invest from decentralized or centralized exchange?
BlockMatt (Will never DM you first): This is totally up to you! We will be listing on many more exchanges in the near future to give you all more options to choose from.
Q8 from Telegram User @victorogb
Can you kindly share some of the supported wallets for storing up CUDOS assets and what are the available application platforms (mobile, web or both)?
BlockMatt (Will never DM you first): Any wallet that supports erc20 tokens will be able to store CUDOS tokens
Q9 from Telegram User @Thealitad
Is there any ambassador program on your platform? Can anyone apply as an ambassador to your project? What is the advantage of being ambassador to your platform? Can you share some information about the ambassador Program?
BlockMatt (Will never DM you first): We do have an ambassador programme which you can find here: https://www.cudos.org/ambassador
Q10 from Telegram User @coinresearcher
What architecture and SDK are you using to building Cudos and are there any vote opportunities for governance?
BlockMatt (Will never DM you first): Cudos is built using the Cosmos SDK and Tendermint architecture. This not only provides speed to market due to the well established building blocks available, but it also provides us with a protocol providing governance over the network. In future releases we absolutely want our community to be able to vote on key decisions and also network healthiness
Part 3 — Quiz Results
In the final part we tested your knowledge in terms of Cudos. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
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