CUDOS seeks to change cloud computing with the help of blockchain technology
Cloud computing and blockchain are generally seen as two of the technologies of the future, poised to play a huge role in shaping our lives in the coming decades. Considering the contributions that these technologies have already made to our way of life, it’s not hard to see what drives this sentiment. Cloud computing has enabled a myriad of new sophisticated apps and services and blockchain has provided us with a new way to store and share information. And now CUDOS is exploring a new decentralized approach that seems set to make the two technologies even more impactful.
An ambitious project
The main goal of the CUDOS team is to create a decentralized network that allows users to rent out the computational power of their computing devices when they are not using them. A special software allows that to happen, while the blockchain network provides access to anyone who wants to take advantage of the available computational resources. The use of these resources is paid in the native CUDOS tokens and the fees are distributed as rewards among computing power providers based on their contribution to the network. Essentially, CUDOS wants to create a system that incentivizes power providers and at the same time offers affordable and reliable services for regular users. But that’s not all!
CUDOS also seeks to contribute to the development of the broader blockchain ecosystem by utilizing smart contracts acting as compute oracles to allow blockchains to connect to the outside world.
Thanks to our vast web3 expertise, LimeChain has been the main blockchain development team on the project. As part of the project, our developers are building an entire blockchain network based on Cosmos technology. This includes implementing smart contract functionality, fleshing out the tokenomics model of the network and adding other unique features in order to customize the Cosmos tech to fit the needs of the project.
In short, the CUDOS project offers a bold vision for increasing the synergies between two of the most exciting technologies we have today – blockchain and cloud computing. By embracing the decentralized model, cloud computing services could become cheaper, more reliable and more accessible for users. The blockchain model and the oracle infrastructure will allow computing power providers to utilize their idle devices to complete real-world jobs and get paid for their effort.