Achieving Better Use of World’s Computing Power with the Help of CUDOS Network

By insidetrader | HODL the Universe | 24 Dec 2020

All animals take their daily need from any available resources around it and leave there. But this sştuation is quite different for people. We, as humanity, take our daily needs but also want to supply our possible future needs from the current resources. Some say it’s normal according to historic development but some say it’s completely contrary to nature. Anyway, all the living organisms need a resource and some kind of depots to supply further demand easily.

After the creation of the Internet, humanity adopts it themselves in less than half of age. While the adoption goes on, the depots of the new world are limited to nearly all of us. So, the developers started to search for a collective solution for everyone to achieve the maximal possible storage capacity. Unless the collective solution, every single PC owner needs high amounts of physical space, money, and effort to provide the needed storage. But it is not favorable for everyone to meet these kinds of needs. As we see after any problem humanity faced, there is always a possible solution. For that topic, it is Cloud Computing!

Cloud Computing, what is it? How Did It Help Us to Solve Our Problems?

As I said above, everyone can’t reach the needed resources and storage capacity for his/her private computer, the developers created a distributed network that provides a broad amount of storage and computing capacity for every participant. It means that there is a poll connected to every single PC owner, the poll receives the total amount of available resources and makes those collected resources available for everyone. It’s as simple as helping a neighbor together with all possible helpers.

The group of networked elements providing services need not be individually addressed or managed by users; instead, the entire provider-managed suite of hardware and software can be thought of as an amorphous cloud, says Wikipedia.

From the very basic sight of view, it’s a good choice for both the service provider and the receiver. For the provider’s aspect, it becomes a regular way to earn money from unused resources. For the receiver’s aspect, it is a simple way to gain the power of more resources and show his/her talent to other people in any category. The main scope of the solution is reaching everyone and providing them what they need. So this can also make a more fair world, in other terms.

From the beginning of 2000s, the cloud computing systems are being used by well-known entities such as Amazon, Google, Microsoft, and even Nasa’s NEBULA. So the world is always changing and the early adopters are the leaders of the future. I don’t want to explain the current status of Google or Amazon.

(Photo by Maximalfocus on Unsplash)

What is the CUDOS Network?

Some may think that why I talked about computing systems and why is important for the cryptocurrency ecosystem. Here comes the answer! Cloud computing systems help the under-utilized people all around the world to connect them to the rest of the Earth. On the other hand, blockchain technology aims to make the world’s resources accessible to anyone together with decentralization. But there are too many milestones to cross to reach the real mass adoption for blockchain daily usage. Until then we need some intermediaries to connect the real-world resources into the chain systems. So the intermediary status belongs to CUDOS Network.

If I need to simplify my words, CUDOS Networks is the bridge between blockchains and the outer world. With the help of CUDOS, it becomes possible to use external data, APIs, and even computing power. So the main reason why CUDOS created is to provide a cloud computing system for any chain to run it without the basic limitations of Ethereum, Bitcoin, or any other principal chains.

CUDOS is a bridge between blockchains and the outside world, to enable the use of external data, APIs and extra compute power that is not limited by the blockchain’s difficulties. This bridge is an absolute necessity for blockchain to reach mass-adoption, as most blockchains are completely disconnected from the outside world, making any interaction impossible.

CUDOS is not a new project. It’s active for more than 3 years with over 150,000 customers now. The team is providing the oracle network to connect any chain with the outer world resources. Led by Matt Hawkins, the whole team has broad experience in cloud computing systems and they come together under the roof of CUDOS Network. The core team members are featured on the website, please check there for detailed information.

After a brief explanation of what CUDOS is, let’s see the basics…

How Does the CUDOS Network Work?

To achieve the core aim, the developers need to create an oracle-like solution for blockchains. So that there should be the main chain to be connected and the smart contracts to contact the main for becoming the bridge with the outer world. The main mechanism is connecting the computing power of the Cudo platform to the main chain with the help of the oracle, CUDOS Network. So please don’t confuse one another, the Cudo platform and the CUDOS Network are different. Now let’s see the details.

As you can see from the picture above, any person or project that want to utilize more resource than they have can connect to the Cudo platform. And the platform provides a wide variety of resources for a smaller fee. At first, the developer should create or use the previously created smart contracts to connect themselves to the Layer 2 CUDOS Network. After that step, the main chain (Layer 1) and the CUDOS Network (Layer 2) is connected. But to reach the data centers of the Cudo platform, the developer should make a one-step further approach. It is validating the CVN (Cudos Validator Node). This is the last step to reach an enormous amount of resources in the fastest way.

As you can understand from the ‘’validating the CVN’’ words, the CUDOS Network uses PoS/Proof of Stake consensus. The developer should reach at least 2,000,000 staked tokens to be validated by nodes. Currently, over 20,000 nodes are in operation to run the chain. On the other hand, the CUDOS Network allows customers to buy as much as or as little as resources according to their needs. It makes the use of energy more ecological and reduces the CO2 footprint while reducing the cost and increasing the effectiveness of the relevant chain. By the way, they aim to make the world more habitable!

What about the Developer Side of View?

The Cudo platform is a collection of resources worldwide. It’s open to everyone, it costs less than the regular, but still, you should pay the fee. The platform charges the consumers a 30% fee, on the other hand, there are several groups of developers to work. This creates a kind of freelance job offer for devs in the COVID-19 pandemic days. But always the developers are judged by some features. These include;

Task priority
Requirements for the job
Price range
Supplier reputation
Location
Staking ratio/amount
Security

If you are able to compete with the others and win, you are offered the job. After the successful completion of the job, you will gain some Reputation points that bring you to the forefront. If you want to check the details, please refer to the WhitePaper or the website.

The Native Token: CUDOS

As all the other platforms have their own utility token, CUDOS Network has too. The CUDOS token can be used to get a discount, to validate a node, to stake, or to become a governant of the CUDOS ecosystem in the future. The total supply is set at 10,000,000,000 but only a small portion is in circulation, nowadays. After the private, seed, and ICO sales, 7.22% of the total supply is sold and the targeted amount of money is set to be over 3,000,000$. Besides the sales, the token allocation has 4 different parts to be counted. You can check the details below:

The unlock period of total tokens as scheduled below:

All the jobs, resource consumptions, the node validating, and many other events will be held under the roof of the Cudo platform. If we can imagine the CUDOS Network as Layer 2 oracle to connect chains to Cudo, the Cudo platform can be imagined as Layer 3 which supplies the world’s resources to chains. 20% of the total value generated from the platform will be given to the community and believers as a reward. Currently, there are 4 different platforms developed for different kinds of working principles. Please refer to the Cudo Ventures website to check. But basically, we can explain the use cases of the Cudo Ventures as follows:

Blockchain Computing
Rendering
AI/Machine Learning
Simulations.

What to Expect From the CUDOS Team in the Near Future?

The Testnet is set to be live on Q1, 2021 together with hardware encryption. After 1 quarter, on the Q2, 2021, we should expect to an oracled Ethereum or Algorand network into the Cudos while developing a Marketplace for developers. Please check the OnePager of Cudos to find more.