As the world shifts more and more of its processes to the digital ecosystem, cloud services are becoming mandatory for all types of companies. The cloud computing market has seen an accelerated growth, fuelled by ongoing demand for scalable, secure, and customizable solutions. Despite this necessity, very few cloud service providers are capable of fulfilling user needs within an acceptable cost. Moreover, many of the market’s solutions are centralised, slow, and oftentimes fail to respect user privacy.
Please Note: This is a Press Release
Cudo Brings Distributed Cloud Computing to the Table
Platforms like Cudo are now stepping in to positively disrupt this growing industry.
Through innovative features like distributed cloud computing, layer-2 blockchain oracles, customizable computation, and enhanced functionality, Cudo is reshaping the cloud service industry.
To put things into perspective, Cudo adopts a distributed compute framework. It harnesses the unused processing power of hardware equipment located in data centres and digital currency mining farms. Furthermore, Cudo is also building a system designed to make use of personal computers, gaming consoles, and smartphones belonging to people worldwide. Those who are keen on sharing their devices will be handsomely rewarded via cryptocurrency, as part of the Cudo compute layer-3 distributed network. Security is easily attained as the platform runs a hardware-encrypted validator network powered by AMD. The platform is also privacy-centric, with no interest in snooping on personal data processed through the distributed cloud.
Cudo is now building the CUDOS Network – an advanced means of linking blockchain ledgers to the Cudo ecosystem. Dubbed as a layer-2 oracle network that is based on smart contract, CUDOS will harness computational power on behalf of blockchains, linking them to off-chain resources. Through this distributed framework, the performance of blockchain ledgers will be increased substantially. Cudo and the CUDOS Network create a deep pool of potential use cases, not only for blockchain developers and the DeFi market, but also for scientific research, data analytics, video rendering, and machine learning.
CUDOS is now commencing its exclusive public token listing event on the BitMax digital assets exchange. As part of this event (due on the 12th of January at 9AM EST), traders, investors, and platform users will be able to purchase the CUDOS token at market price.
Announcing the CUDOS Exclusive Public Token Listing
CUDOS tokens have been created to raise the funds necessary to develop the CUDOS Network, a viable means of feeding off-chain compute resources to blockchain networks. The token listing is scheduled for 9AM EST on the 12th of January via the BiMax exchange. The exclusive listing will last until the 19th of January, so purchasers that fulfil the participation criteria will be able to purchase and withdraw CUDOS tokens. During this timeframe, BitMax and Cudo will be rewarding some lucky traders through airdrops.
As a utility token, CUDOS staking will be necessary for several purposes. For instance, holders that choose to stake 2 million CUDOS become eligible to run their personal CUDOS Validator Node, referred to as CVN. By doing so, stakers can earn an annual percentage yield (APR) of up to 30% consisting of CUDOS token rewards. The APR will vary depending on the amount of circulating tokens. Higher rewards are given in the case of a lower staked token percentage, whereas lower rewards are attributed if more tokens are staked. CUDOS will constantly operate subtle modifications within its tokenomics framework to ensure that staking rewards always vary between a minimum of 5% and 30%.
Those who are unable to stake the predetermined amount of CUDOS, can get involved with delegated staking to support their favourite validator nodes, earning a lower reward. The CUDOS token can also be used to reduce platform fees or to receive compute jobs from network participants. Thus, CUDOS ownership is bound to provide holders with passive revenue sources, separate from those earned by running a CVN. As expected, the token will have a dynamic price value, making it suitable for profit-seeking crypto trading.
CUDOS Token Distribution & Usage
Cudo has decided to hard cap the token supply at 10 billion CUDOS, 7.22% of which were destined for the private and public token events. The private sale has already occurred, leading to significant purchases by vested and strategic investors. Considering Cudo’s value proposition within the cloud computing market, most analysts predict a bullish sentiment following the official listing on BitMax.
Regarding the overall token usage model, the raised funds will be allocated for marketing, user acquisition, product development, community engagement, node validators, administration, operations, and contingency.
Never before has there been a solution that would allow blockchain networks to enhance their computing performance on demand. In the long run, the CUDOS layer-2 oracle network will cultivate groundbreaking applications within the blockchain industry, while incentivising hardware owners to rent out their equipment. Lastly, token listing participants will access a generous APR on their stake together with other rewards.