Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with CUDOS on January 10, 2021. This guest star,
Jeffrey Elliott, Marketing Manager at CUDOS
I’m Jeffrey Elliott, Marketing Manager at CUDOS, i’ve been working in crypto for over 4 years😊
Q1. Can you provide a simple description CUDOS for our Community? How did you get idea create CUDOS?
Sure, CUDOS is a cross-chain decentralized compute network designed to power Web 3.0. It enables anyone to sell their computing or consume decentralised computing resources either via blockchain/smart contract or via more traditional cloud computing API’s.
In essence, what this means is CUDOS is one of the few networks which can power other blockchains and scale to the demands of cloud computing required today
We previously built C4L which was one of the UK’s largest cloud and data centre providers. We ended up providing 1% of the UK’s infrastructure and had a global business. We built CUDOS to make the same in software using blockchain to use the worlds spare computing capacity.
Q2. What are the advantages of CUDOS? How is CUDOS better than other platforms? What makes it unique compared to competitors?
There are a number of great market leaders in the space. These include the likes of Near Protocol, Oasis Protocol, Matic Network. The vast majority have focused purely on smart contracts.
You of course have Ethereum and the upcoming Ethereum 2 as well.
CUDOS enables you to scale out compute on EVM/eWASM, Docker Containers and VM’s on a global compute network. We have over 20,000 compute nodes and over 150,000 users which is scaling quickly, which gives us substantial global compute capacity.
We have AMD rebranding our technology which you will see in the coming weeks, and Ultra integrating our compute engine, between them is due to expand the network to over 1 million nodes in 2021. We are currently live in over 145 countries.
As well at this network, we have been busy signing up global data centre providers and bandwidth providers to expand the network further.
The difference is we took a market approach first and applied the technology to that which is what is giving us the quick scale of network and users. I say quick we have been working on this for 3 years now.
Q3. About $CUDOS token, can you explain about the tokenomics and what is the real utility of $CUDOS token in your ecosystem? Where will token be allocated?
Total supply is 10bn CUDOS. And the initial supply is around 8%
I’ll break the use cases down into a few different ones.
Providing turing complete solutions to non-turing complete networks:
Algorand is a good example, we have a partnership with Algorand. Algorand is a low cost fast transaction network, but because of the design choice it is limited in its functionality and it not turing complete. Working with Algorand we are integrating the CUDOS network so that Algorand smart contracts will be able to do full turing complete work using the CUDOS network. The network can run this in WASM, Docker or VM’s.
Providing a global scalable Decentralised compute for blockchains and smart contracts:.
We have other networks we are working with like NKN, Noia Networks etc.. that are lined up to use the CUDOS global network to expand their own network coverage.
Providing Scalable Cloud Computing:
Resources can be consumed on the network as required in the same way as traditional compute but in a greener more efficient manner.
Lowering the cost of compute/transactions and DeFi on blockchains:
The transaction costs and compute costs on the CUDOS network are substantially lower and scale better. Able to scale on EVM, eWASM , Rust and other languages. Also this provides greater language flexibility.
For more information regarding our token metrics and token allocations, join our community or visit our whitepaper or one pager.😊
Q4. Could you please tell us more about the CUDOS Node Validator. Is there a specific reason why you are using 100 validators?
Sure😊 The network has 2 layers , a consensus core that provides bridges onto the other blockchains and transactional records. 100 global validators provides us a secure distributed core network to support this. Our validators are well known Validator providers or recognised hosting providers. The compute network is the other layer and this is the large scale out compute network which can support millions of nodes.
Q5. Finally, can you tell about CUDOS roadmap for the present and the future? How far has CUDOS been developed?
We have been building this for 3 years, we are focused on the longterm. We have a large number of partnerships, dapps, blockchain integrations and also major compute buyers going live over the coming months this year as certain features go live, this provides a solid long term future for the network. Our work with AMD, ALgorand will be leading to very exciting developments that we will be releasing details about in our communities, very soon.
Q1. I see CUDOS GAMER, Can you explain in more detail about CUDOS Gamer? Is it intended for GAMERS or for PUBLIC GAMES? and What are the benefits. Thank you
Cloud based gaming has become increasingly popular in recent years, and the CUDOS network is set to be able to support the demand for cloud compute that will support this. Not only that gamers will be able to make the most of their gaming hardware and possibly earn some revenue in the process. Software platforms that are integrating our platform to monetise their users hardware include the likes of Ultra gaming network, which is like a blockchain version of steam and lets gamers sell their games afterwards. Our work with AMD who have a massive name in the gaming industry will help to support this further.
Q2. CUDOS has several cool features, one of which is CUDOS Miners. What are the advantages of mining on the CUDOS platform compared to other platforms? Are there any features to get more income from Mining on CUDOS?
So the cudominer platform currently runs separately to the CUDOS network, however miners will be able to now put their hardware to use for compute workloads that support a much wider range of use cases, such as AI development, scientific research, image rendering and be rewarded at the same time.
Q3. The wider the community, the stronger the project. How do you go about expanding the CUDOS community / users from Crypto users and Non Crypto users?
Over the past few months we’ve been ramping up our marketing efforts, our telegram community is almost at 15k users, we’ve already feature in ama’s in some of the biggest crypto communities, (including this one!) on top of that we’ve been working with influencers from all over the world to connect wit their communities too. We’re also currently running an ambassador program which you can join and earn some CUDOS tokens, the earlier you join the higher the payouts will be.😊https://www.cudos.org/ambassador
Q4. I am a miner. Can you explain the minimum specifications for mining in CUDOS? How do the payment methods work? What coins are available?
As I mentioned earlier, the cudominer platform runs seperately to the CUDOS network at the moment, this will change in the future, however if you were to borrow compute power from the CUDOS network for mining the payouts will be handled via your chosen mining platform. You can check out Cudominer here: https://www.cudominer.com/
Q5. How can users be sure that everything from personal data to workloads is kept safe?
How high is the security level of CUDOS?
Naturally we have a lot of internal risk and security policies. We are ex data centre and cloud people so this runs in our blood. We have resiliency and failover across our smart contract, blockchain and infrastructure.
We have our smart contracts audited and each oracle on each blockchain is independant, so the worst case is we have an issue with one of the contracts. We can enable users to use a new contract for the Oracle if we did ever find a contract in that situation.
Why such a name Cudos?
Great question! Cudo is latin for Coin /money, Kudos means good essentially, and we want to create good and better use of global computing and enable anyone to earn off their hardware and items they purchase, hence the merging of the 2.
How does CUDOS plan to outperform his many competitors ?
We don’t really aim to outperform our competitor, we look to work with them. It’s a huge market and competition is healthy. It keeps everyone motivated to keep innovating. If you look at the traditional cloud market, it is a $200bn per annum market, which will grow to over $300bn in a few short years. You have 24 hyperscalers who have the significant market share and you then have 1000’s of smaller service providers.
We are at a very exciting stage in history with blockchain, distributed computing, decentalisation and other tech evolutions all converging at the same time.
There is room for a number of projects entering this space! : )
Where is cudos road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
You can check out the roadmap at www.cudos.org 😊We are currently about to list on an exchange this month and will be releasing more details about that very soon, so please visit our communities and stay tuned!😊
How to make Your products easy for anyone? Including those who do not understand crypto will also use Your platform?
Educating the community is vital, and we take this very seriously, that’s why we will continue to educate users via blogs and all of our channels, on top of that, as a community led project we are always taking feedback on the best ways to make things easier for you guys.😊
About the tokenomics? Could you give us an overview of the tokenomics? Is the token designed to rise and fall with the success of the platform? And does it include any scarcity paths such as stake, store, or burn?
We have actually removed the earlier idea of burning. The reason being is that we have designed our tokeneconomics along with Delphi Digital (who advised ETH 2.0) to limit the amount of circulating supply, keeping it low at all times. We are also targeting 70–75% of the circulating tokens to be staked with high staking rewards to incentivise this.
As a utility token, we want to make sure that we can operate within the US as well, so it is very important for the token to remain a true utility, rather than a vehicle for profit which is how US law views burning
- Telegram : http://t.me/cudostelegram
- Twitter : https://twitter.com/CUDOS
- Website : https://www.cudos.org
- Whitepaper : https://www.cudos.org/wp-content/uploads/sites/17/2020/10/CUDOS-WHITE-PAPER-V.3.pdf
- Medium : https://medium.com/cudos
- Linkedin : https://www.linkedin.com/company/cudos1/
- Youtube : https://www.youtube.com/channel/UCbS48Q09D5xMDCVX0T_OeCw
Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about CUDOS.
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