Ahmadreza R.
Ahmadreza R.
Apr 07, 2022

Cudos Coin: Decentralised Cloud Computing Network

tl;drCudos delivers scalable compute solutions and has discovered two distinct opportunities: providing blockchains with secure layer two computing capabilities and improving cloud service offerings. Also, this network provides a novel layer 3 to blockchain networks for the first time. Cudos Coin is the native crypto of the network. Let’s learn more about this vibrant network and find out if the project is promising for the 2022 investment or not!
Cudos Coin: Decentralised Cloud Computing Network
Cudos Coin: Decentralised Cloud Computing Network
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What Is the Cudos Platform?

Cudos is a blockchain-based platform that aims to bridge Blockchain and Cloud. The platform offers layer 2 to various blockchains to tackle scalability issues. A set of smart contracts have the role of computing oracles on the CUDOS platform, which can run code in any programming language, including Python, Go, and C++. Codus is now trusted by users across 145 countries, including gamers, blockchain developers, and service providers. A reason for its popularity is that CUDOS offers a 10x more cost-effective solution than any other existing platform.

What Is the Cudoss’s Main Vision?

The Cudos network's primary vision is the efficient use of computing resources. Moreover, empowering organizations and people to earn by contributing to the world's computing and making it more accessible, cheaper, and more sustainable is the primary mission of this network.

The Native Coin of The Cudos Platform 

Cudos Coin is the native cryptocurrency of the Cudos network. It has multiple functionalities, including staking, discounted fees, and network governance.

How Does CUDOS Work?

Cudos network connection to the outside world through the Cudos Validators Nodes (CVNs) is one of the main pillars of this network. The Cudos smart contracts can determine the level of decentralization for the blockchain developers. Selecting CVNs' should receive and run the way to make this feature applicable. It enables developers to choose and run suitable settings and configurations. CVN has completed the work when it comes to validation, sharing the results, and reaching a consensus. In the CUDOS network, consensus can run either on-chain or off-chain to reduce the network transaction fees. This solution returns authority to developers, allowing them to determine the extent of decentralization they want and regulate the cost of the total request.

What Makes Cudos Coin Unique? 

Offering a decentralized computing network to off-chain infrastructure consumers in addition to on-chain consumers makes Codus the pioneer of this kind of service. It is developed on the Cosmos blockchain and is highly secure due to utilizing the Tendermint protocol. 

How Is The Cudos Coin Secured? 

The Byzantine Fault Tolerant Bonded Proof of Stake mechanism, shortly called Tendermint Core, is the consensus engine used in Cudos Coin Network. Validators are required to stake a given amount of Cudos Coin in the network to be able to validate transactions and earn fees from their contribution.

To reach a high degree of security and reliability, the Cosmos SDK’s staking, slashing, and governance modules are also leveraged in Cudos Coin Network. Doing so ensures a minimum of 95% uptime and removes any kind of bad behaviors such as double-signing.

How Does Cudos Coin Benefits Consumers?

  • Smart Management

Cudos Coin, unlike many cloud services, allows users to buy as much or as little computing power as they need without having to pay the high fees associated with on-demand computing.

  • Greater Efficiency

Maintenance and administration account for a large amount of company IT spending. These expenditures are eliminated with 63 Cudoc Coin. Enterprises may use Cudoc Coin to streamline workflows, make better decisions, and decrease problems caused by human error.

  • Reduced Costs

Switching from your current cloud provider to Cudos Coin is estimated to save you more than 75% on average. The service will save 70 percent in CPU video rendering, 75 percent in university research, 85 percent in GPU video rendering, and up to 95 percent in simulations for the first customers.

Cudos Coin Roadmap

Currently, the Cudos Coin has two phases to take, and its roadmap is based on Ingenii and Nabuim. In the following, you will read about the scope of these phases.

#Ingenii

Cudos Network v1.0 is now in production with native Cudos Coin support.

Scope:

  • Permission-less Validator participation
  • Delegated Proof of Stake mechanisms
  • Agnostic smart contract platform using CosmWasm
  • Developer tools for builders
  • Native NFT support for accounts
  • Ethereum multi-asset bridge (ERC20 & ERC721)
  • IBC compatibility
  • User interfaces for key components
  • expected Q1 2022


#Nubium

V2.0 release of the Cudos Coin in which compute-power is augmented by a layer-3 pool of service providers from existing Mining and Compute communities.

Scope:

  • Scalable on-chain compute
  • Compute marketplace
  • EVM Support
  • Multi-chain bridges
  • Complex Reference DApps
  • expected 2022

Cudos Coin Financial Analysis

CUDOS Coin’s Return On Investment (ROI) was -68% over the last year, which is disappointing for any investor. Its market cap rank saw lots of fluctuations over the last six months, peaking at 411 on February 10, 2022. Currently, it is ranked 585 with over a $63 million market cap. Moreover, CUDOS Coin’s liquidity score is 24% below the market’s average score, making it a challenging task to sell if the market is falling.

Conclusion

After reading this article, you should have a better understanding of the CUDOS network. The most crucial thing to do before investing in any cryptocurrency is to familiarise yourself with the project's details and news. Every day, the cryptocurrency industry publishes news about a project's success or failure and changes in various key indicators. Cryptologi.st has such reports, coin reviews, educational content, and many others

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