CUDOS commenced trading on the 12th of January, and since then, it has seen favorable price action, pointing towards a positive long-term future for the token price.
Cudo was launched a few years back with a clear goal – to decentralize cloud computing by relying on an incentivization mechanism that rewards hardware owners in exchange for their idle computing resources. The company is now launching the CUDOS Network, a viable means for connecting blockchain ledgers to Cudo’s cloud computing service. In doing so, blockchain developers can access on-demand computational resources that are cheap, fast, and privacy-conscious.To make the CUDOS Network a reality, Cudo has listed its token on BitMax and Poloniex. The primary listing on BitMax boasting lucrative airdrop rewards for lucky traders has ended on the 19th of January, 2021, but the token remains available for trading under the CUDOS/USDT pair. As seen later on, an impressive bullish sentiment was attained following the listing, with additional value growth currently underway.Understanding the Need for Distributed Cloud ComputingAccording to the recent financial statements released by the industry’s largest cloud computing suppliers, the market is rapidly growing. For instance, Amazon Web Services saw a 35% revenue increase in 2019, with similar trends reported for Microsoft Azure and Google Cloud. These companies rely on privately-owned data centers while demanding that customers strictly comply with their operational policies. In exchange, cloud computing users access relatively-expensive solutions, affected by high-latency and an overall lack of privacy.The current state of the market gives way to innovative solutions that seamlessly solve the traditional challenges of cloud computing. By decentralizing the market, Cudo is able to provide cost-effective solutions at a much lower cost. Performance benchmarks are also improved since Cudo supports low-latency solutions, as well as customizable cloud computing plans. Everything happens within a privacy-conscious framework that takes security very seriously.Cudo is able to do this by decentralizing cloud computing. It, therefore, harnesses the unused power springing from cryptocurrency mining farms, data centers, and privately-owned hardware. With a network of over 20,000 nodes and 140,000 users, Cudo is able to deliver a total of 500,000 teraflops of computing power, virtually enough to exclusively power entire industries.Why Blockchain Projects Demand Compute ResourcesCudo is taking things one step further. By now, technology enthusiasts worldwide are accustomed to the potential benefits provided by blockchain technology. Transparency, decentralization, immutability, security, low costs, and instantaneous transactions are only a few of the advantages associated with blockchain tech. The industry has rapidly grown, surpassing all previous value predictions – the cryptocurrency industry that’s mostly powered by blockchain technology has recently crossed the $1 trillion thresholds. Analysts can justly assume that this is only the beginning as blockchain is not yet prevalent worldwide.There are some challenges, however. Blockchain ledgers find difficulty when it comes down to accessing off-chain resources that would enhance their computational performance. The CUDOS Network is a layer-2 oracle solution based on smart contracts that will power blockchain ledgers, the DeFi economy, as well as a myriad of decentralized applications.How the CUDOS Layer-2 WorksAll processes are carried out in a secure manner, as network validators take on compute jobs and assign them to off-chain resource suppliers. Once the computational process is concluded, the data is then fed to buyers in a transparent manner. The CUDOS solution is Turing-complete, so developers can program their requests in multiple languages, including C++, Python, and Go. Furthermore, all cloud computing solutions remain customizable. Buyers can even determine their preferred level of decentralization, by choosing the number of CUDOS Validator Nodes (CVNs) responsible for running the code.With the introduction of the blockchain computing paradigm, CUDOS will create significant revenue streams for computing power suppliers, while cultivating a hunger for further innovation within the industry.Highlighting the CUDOS Token – Utility, Supply, Distribution, and UsageThe CUDOS Network will run on a built-in token economy. As expected, these tokens will hold inherent utility within the network, serving as prerequisites to accessing lucrative revenue streams.CUDOS Network holders that stake 2 million tokens earn the right to set up their own CVN. This entails supporting the network in exchange for 24/7 revenue streams in the form of rewards and transaction fees. A CVN can expect to earn between 5% and 30% of their stake per annum, depending on the total number of CVNs and stakes CUDOS tokens. Those that cannot afford the 2M staking requirement can delegate their stakes in support for other CVNs, consequently earning a smaller, but still advantageous reward. CUDOS token stakers can also obtain revenue by completing blockchain compute jobs. Lastly, the CUDOS token comes with decision-making rights through governance voting on team and community proposals.Cudo has opted to limit the supply of CUDOS tokens to 10 billion. 7.22% of these tokens are being distributed through private and public token events to investors worldwide. The ongoing public listing event aims to sell 166,666,667 CUDOS tokens at a dynamic market price. The capital obtained via the events will be utilized to finance platform development, customer acquisition, CUDOS validator nodes, community engagement, and research.Highlighting the Recent CUDOS Price ActionCUDOS commenced trading on the 12th of January, and since then, it has seen favorable price action, pointing towards a positive long-term future for the token price.With this in mind, the CUDOS token has achieved an all-time high of $0.124, alongside an all-time low of $0.051. Despite this volatility, the token has recovered, seeing a sustainable price jump following the listing event. The token’s all-time low was quickly followed by a steady increase in price relative to USDT. While volatility is a prerequisite of any new token listing, CUDOS is undergoing an uptrend, fuelled not only by its value proposition but also by the bullish sentiment within the cryptocurrency market as a whole.At press time, CUDOS is trading at $0.087 per token, with a recent daily trading volume surpassing $6500. Strategic investors and key partners that participated in the private token sale have managed to cash in considerable theoretical profits given the huge price increase of the CUDOS token following the public listing. As expected, most early investors are holding onto their tokens thanks to the sheer potential for additional value growth. CUDOS has bright days ahead, following the huge success of the private and public listing events. With this in mind, the token’s value is expected to continue rising, as Cudo prepares the launch of its layer-2 oracle network designed to link blockchain ledgers to off-chain cloud computing resources.
