Global Computing Network Announces Mainnet Launch to Solve Fundamental Problems of Cloud Services
The internet continues to exist as the backbone of society as a whole. The only downside is that the traditional Internet model relies on connecting all devices to nodes that centralize information and redistribute it to form a stream. Therefore, centralization can lead to a lack of privacy and a single point of failure for all websites that depend on it. Blockchain changes this by creating a distributed network, where all devices store all information on the web. Although the technology is still new, its aspirations are high and its computing needs are growing.
Ethereum (ETH) attempted to overcome scalability with the shard upgrade. However, its rollout has been slow. In response, other projects have attempted to address these issues, but have missed the Turing-complete layer, which ensures that users can compute everything that any other computational method can. Conversely, other projects have created dataflow oracles, looking for external data to make available on the blockchain. Unfortunately, even then, the capabilities of these platforms revealed a gap in the market for cost-effective compute platforms.
To bridge this gap, Cudos is a project positioned to disrupt the market as a scalable computer network while simultaneously offering a professional mining platform. With its launch on the mainnet, the project brings the industry closer to solving the fundamental problems of cloud computing.
In recognition of the exciting occasion, Ethan Illingworth, Head of Blockchain at Cudos, speaks out and shares, “This is it! Months of effort during the testnet and years of groundwork, culminating in the launch of our mainnet. We are excited about the benefits of our native blockchain, including interoperability, reduced gas fees, powerful utility token, and eventually the infrastructure to power Web 3.0. We are excited to see our pool of validators growing and excited to see what innovative DApps will be built in our network.
The launch of the mainnet is an essential step for the project as it matures.
From testnet to mainnet
The Cudos blockchain has undergone several testnet phases, each allowing developers to test and fix network functionality before launch. After that, the intention is that the blockchain has already gone through several rounds of testing and is fully ready.
Along with the release, the network will also migrate its CUDOS ERC-20 tokens to its native CUDOS blockchain. Additionally, developers could create smart contracts through a significantly cheaper method than Ethereum.
With the mainnet, users can expect several benefits, and interoperability is placed at the top of the list. Cudos can exchange and use information from any blockchain system, a feature possible due to the project’s foundation on Cosmos. As a cross-blockchain communication protocol, Cosmos enables all cross-chain functionality, becoming a bridge to Ethereum and other major blockchains in the future.
Along with interoperability, gas fees are reduced, which optimizes native cryptocurrency and non-fungible token (NFT) transactions. Additionally, with CUDOS running as a native token, users can benefit from its utility for staking, running commit nodes, and participating in governance.
Perhaps most notably, after the migration to the Cudos mainnet, users will eventually see convergence with the Cudo Compute Platform, which will enable scalable, reliable, and affordable computing for games, NFTs, and the metaverse.
Expansion into NFTs and the virtual domain
After the completion of several testnets, charitable contributions, powerful alliances, and most recently the launch of the mainnet, the Cudos team has shown no signs of slowing down. Over the next 12 months, the team plans to expand further into the virtual realm via NFTs and the metaverse. By maturing all of its businesses and launching complementary solutions as part of its ecosystem, Cudos will become an end-to-end platform for blockchain and compute projects.
Disclaimer. Cointelegraph does not endorse any content or product on this page. Although we aim to provide you with all important information we may obtain, readers should do their own research before taking any action related to the company and take full responsibility for their decisions, and this article cannot no longer be considered as investment advice.