What is Cudos? Information about CUDOS Token

Table of Contents

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.

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.

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

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

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.

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

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.