What is Cudos? Information about CUDOS Token

Cudos - a Layer-1 platform with a tendency to support Depin projects. So, what is Cudos? What makes this project special? Is the CUDOS Token worth investing in? Let's find out!

Azcnews Breaking

What is Cudos?

Cudos is a layer 1 network built on the Tendermint – Cosmos protocol. This network provides distributed computing capabilities that can scale directly to smart contracts or other bridged blockchains.

Cudos connects blockchain developers and services with global computing power, allowing computations to be performed at a cost up to 10 times lower than traditional methods. This provides applications with high computational demands, such as Metaverse, Dynamic NFT, AI, Machine Learning, DeFi, and other dApps and smart contracts, access to a global network to power their operations.

What is Cudos?
What is Cudos?

The Cudos platform provides cloud-like services, focusing on low cost, low latency, and high customization. This platform can be considered an additional layer (layer 3) on top of the Cudos network, providing more on-demand computing capabilities for blockchains. This supplementary capacity may be necessary to select different hardware or to request more resource-intensive tasks than the Cudos network can directly absorb.

How Does Cudos Work?

Smart contracts written on Cudos’ layer 1 network can be called “Cudos smart contracts“. They are deployed on the same layer 1 network to request off-chain computations or access external data.

How Does Cudos Work?
How Does Cudos Work?

Off-chain computations are performed on Cudos validator nodes. These nodes need to stake at least 2,000,000 Cudos to be eligible to operate. The nodes continuously listen for events in the Cudos smart contract to see when a new computation request is created. This request includes three main components:

  • Targets identifier: An identifier used by Cudos nodes to determine when they need to perform a task.
  • App hash identifier: A hash identifying the code the Cudos nodes need to run.
  • Any inputs necessary for the workload.

When a node receives an event and decides to run a task, it will trigger its WebAssembly execution engine. This process is off-chain, so it is not constrained by blockchain limitations. After receiving the result, a consensus checking process may be needed to return a single result for the initial smart contract request on the layer 1 blockchain.

Finally, the layer 1 blockchain smart contract can fetch the single result (or the storage address of the result) to complete the initial request.

Key Features of Cudos

Smart Management:

  • Allows users to purchase more or less computing power as needed, without large fees for on-demand services.
  • Eliminates the need to over-provision capacity and risk wasted resources.
  • Provides flexible, on-demand computing.

Higher Efficiency:

  • Helps businesses save on IT staffing, maintenance, and administration costs.
  • Allows businesses to streamline workflows, improve decision-making, and reduce human errors.

Lower Costs:

  • Users can save over 75% on average compared to other cloud providers.
  • Early users can save up to 95% on costs depending on the application (video, research, simulation, etc.).

The Cudos Team

Team
Team
  • Nuno Pereira – CBDO
  • Andrew Sturmey – CTO
  • Matt Hawkins – CEO

Cudos is led by CEO Matt Hawkins. Matt Hawkins and his team have over 16 years of experience in the cloud computing industry. They are building C4L, a cloud service provider that powers 1% of the UK’s internet infrastructure. C4L has tens of millions of daily users across its infrastructure spanning Europe and the US.

With their extensive experience and industry connections, the Cudos team has built relationships with many businesses and service providers who are potential users of Cudos’ computing power.

Investors

Investor (5)
Investor

Cudos has raised £10 million from funds such as Moonrock Capital, GBV, Spincrypto Capital, Coinvision Research, BlackDragon Research, MoonWhale Ventures, OutlierVentures, DoublePeak, Psquare Capital, CSP DAO, Crypto Snack, Exnetwork Capital, DuckDAO, Brilliance Ventures, BMW Capital, and Floem Capital.

Related: What is IoTeX? Information about IOTX Coin

What is CUDOS Token

CUDOS Token Basics

  • Token Name: Cudos
  • Ticker: CUDOS
  • Network: Ethereum
  • Total Supply: 10,000,000,000
  • Smart Contract: 0x817bbdbc3e8a1204f3691d14bb44992841e3db35
  • Token Utility: Governance

CUDOS Token Utilities

The CUDOS token is used for governance, staking, and community rewards.

CUDOS Token Allocation

Cudos Allocation
Cudos Allocation

The 10,000,000,000 CUDOS tokens are allocated as follows:

  • 34% for ecosystem and community development
  • 20% for the team
  • 5% for the advisory team
  • 2.22% for private investors
  • 1.67% for public sale (exchange listing)
  • 3.33% for strategic investors
  • 33.78% for the reserve fund

CUDOS Token Unlocking Schedule

Updating

Roadmap

Cudos’ upcoming roadmap includes:

  • Further Cosmos chain development
  • Adding MetaMask support for multi-chain computation
  • Incorporating smart contract functionality
  • Developing cross-chain capabilities
  • Upgrading the Cosmos SDK

Project Information

Conclusion

Through this article, we have provided an overview of the Cudos project and information about the CUDOS token. If you have any further questions, feel free to leave a comment below for discussion.

3.8/5

(12 votes)
  1. Avatar of Toululope
    Toululope

    This is educative.

  2. Avatar of
    Anonymous

    Go

  3. Avatar of
    Anonymous

    How do we get this cudos

  4. Avatar of
    Anonymous

    Nice

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

What Is Dogecoin Azc

Editor Choice | Research | research

What is Dogecoin? Exploring the World of the Memecoin DOGE

Memecoins have become a major trend in the crypto space, with many projects reaching billion-dollar market capitalizations. Dogecoin is considered a pioneering project that kicked off the memecoin craze. So, what is Dogecoin? Let's find out!

What Is A Cold Wallet Azc

Research | Editor Choice | research

What is a Cold Wallet? Top 3 Best Cold Wallets in the Crypto Market

Is a cold wallet an effective tool for storing cryptocurrencies? So, what is a cold wallet? What are some recommended types of hardware wallets to use? Let's find out together!

Azcnews Ctk Soars 100% In One Hour Ahead Of Major Update

News | Altcoin | Editor Choice

CTK Soars 100% in One Hour Ahead of Major Update

The price of the CTK token doubled within an hour ahead of the upcoming Shentu v2.10.0 update.

Azcnews A Major Uk Bank Officially Bans Cryptocurrency Transactions

News | Editor Choice | Policy & Regulations

A Major UK Bank Officially Bans Cryptocurrency Transactions

Starting May 30, the UK digital bank Kroo will prohibit its customers from conducting cryptocurrency transactions.

An Investor Becomes A Millionaire Thanks To Memecoin Shiba Inu

Altcoin | Editor Choice

An Investor Becomes a Millionaire Thanks to Memecoin Shiba Inu

An investor became a millionaire by holding Shiba Inu for 3 years, turning $2,700 into $1.2 million.