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Imagine a future where Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc.’s (NASDAQ:GOOGL) multibillion-dollar cloud infrastructure is distributed among millions of people around the globe who lend spare hardware, earn money for the service, and safeguard the environment simultaneously.
That’s the future the decentralized cloud-computing network Cudos envisions.
This may be Web3’s next major frontier, and the Cudo Compute project, a global, decentralized cloud-computing platform designed to deliver the next generation of the metaverse, non-fungible tokens (NFTs) and Web 3.0 decentralized applications (DApps) might be bringing it closer to reality.
As the world of NFTs and metaverses evolves, the demand for computing capability is poised to increase 1,000 times — a demand the world is unlikely to keep up with according to Intel Corp. (NASDAQ:INTC). However, Cudos’s upcoming graduation from testnet to mainnet may help solve this challenge.
The transition in late February will reportedly allow the Cudo Project to continue building the necessary decentralized cloud infrastructure to fulfill the world’s need for computational power.
How does it all start?
The Cudos Network
Cudo’s mainnet launch will introduce a variety of benefits inherent to its blockchain.
For example, the transition will make Cudos fully interoperable, meaning that users can transfer tokens, assets and NFTs to and from the network. Developers will be able to use the Cudos blockchain for deploying smart contracts, the doors to the commercial development of DApps and Web3-powering projects.
Because of Cudos’s inherent native transaction optimization, gas fees are lower compared to Ethereum, meaning transactions process faster at a lower cost. Dozens of validators have participated in Cudos’s test run, staking millions of CUDOS, the blockchain’s utility token. This growing number of validators indicates that their network has become more secure, according to Cudos.
With the Cudos network migrating from Ethereum to the native blockchain, the ERC-20 tokens will migrate into CUDOS native tokens. CUDOS holders will be able to pay for purchases from international marketplaces using the native token. They can stake on the Cudos Blockchain, vote on active governance proposals, earn through validation efforts and use the token to deploy and interact with smart contracts.
The Cudos Network is built to eventually create a decentralized blockchain and computing infrastructure — one that’s self-reliant and independent of any centralized corporate source.
The fundamental idea is that so long as the world depends on Amazon, Google and Microsoft Corp. (NASDAQ:MSFT) for cloud infrastructure, individuals will never truly own their data, art or currency. Cudos notes that off-chain storage — the medium through which popular NFTs like Bored Apes and Yawning Cats are held — often relies on the centralized cloud services provided by those corporations.
They not only control access to supposedly decentralized work, but the world’s complete reliance on them has made it susceptible to those moments when their services don’t work. Barclays plc, TSB Bank plc, Bank of Scotland plc, Tesco Bank and Sainbury’s Bank plc were all financial services that were fully or partially inaccessible for a short period of time because of a widespread outage of Amazon Web Services.
“It is a no-brainer that decentralized applications should run on decentralized infrastructure. Besides the goal of limiting corporate and political control of data and reducing environmental waste caused by the excessive building of hardware, perhaps the most compelling argument for decentralizing computation and storage is that we can redistribute the profits associated with hosting and deploying infrastructure,” according to Cudos.
Currently, Cudos invites global data center and cloud service partners to register their interest if they share the company’s vision of creating a decentralized, sustainable and connected world.
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
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