Cudos Coin Price & Market Data
Cudos price today is $0.031719362535 with a 24-hour trading volume of $1,397,955. CUDOS price is up 6.2% in the last 24 hours. It has a circulating supply of 2.1 Billion CUDOS coins and a total supply of 10 Billion. If you are looking to buy or sell Cudos, Gate.io is currently the most active exchange.
What is CUDOS?
CUDOS is a decentralised compute network that will provide multiple blockchain ecosystems with the following benefits:
- Trusted layer 2 validator network built on the Tendermint protocol - EVM and Wasm compatibility, in order for smart contracts to be deployed on CUDOS using Solidity or next-generation languages so long as they compile to WebAssembly. I.e. Golang, Rust, Java etc.
- Cross-chain or Horizontal interoperability thanks to the network’s Inter Blockchain Communication (IBC) integration, which allows for Cudos Network smart contracts to run on multiple networks.
- 10x lower transaction and gas costs compared to those on PoW networks - A massively scalable network to facilitate more sophisticated smart contract operations
- Higher performance with anywhere between 200 to 500 Peak TPS on the network - Access to a globally distributed layer 3 network of secure cloud, and compute, resources
Turing complete solutions for non-turing complete Layer 1 blockchain networks With the underlying Cudo platform live in over 145 countries, across enterprise and edge environments and used by over 250,000 users, CUDOS is the next major release, providing a decentralised computing layer bridging on chain and off chain resources.
The CUDOS token serves the following clear purposes: Network governance and operations, a staking mechanism for receiving blockchain and cloud workloads and as a medium of exchange (MoE).
What is CUDOS trying to solve?
Scaling on blockchain is both expensive and limited in the type of use cases it can support. CUDOS solves this issue by providing a highly scalable layer 2 and 3 solution, connecting both onchain and offchain consumers to the network via smart contracts and APIs.
Who are the founders at CUDOS?
CUDOS was founded by Mathew Hawkins, an award winning entrepreneur, who previously founded C4L; a datacenter, cloud and network infrastructure provider that grew to support 1% of the UK’s internet infrastructure. Exiting in 2016 for $30m, Mathew started Cudo and the CUDOS network to build infrastructure services in software, what he previously achieved in hardware. The executive team have backgrounds in building and scaling and SaaS with CRO Andrew Walker founding Clicktools, a business acquired by SurveyMonkey, CTO Andrew Sturmey as a core member of C4L previously with over 20 years of experience scaling cloud platforms and networks and COO Lee Woodham with over 25 years split across scaling financial services and tech companies. The board of advisors also includes David Juxon, former MD of Bank of America, Chris Deering, Former President of Sony Entertainment (Playstation), Joerg Roskowetz, Director of Blockchain for AMD and Maggie Fang, early investor in Uber and Alibaba.
What makes CUDOS unique?
CUDOS is the first decentralised computing network to provide services to both on-chain and offchain infrastructure consumers. Built on the Cosmos blockchain and utilising the Tendermint protocol for network governance, the CUDOS validator network will provide a globally distributed and highly secure network able to distribute more intensive workloads out to the underlying layer 3 Cudo platform.
How is the CUDOS network secured?
The CUDOS Network utilises the Byzantine Fault Tolerant Bonded Proof of Stake mechanism featured in the Cosmos SDK, known as Tendermint Core, as its consensus engine. Transac Validators in the CUDOS network stake a given amount of CUDOS in order to earn fees from validating transactions on the network in a secure and highly reliable way. In order to achieve this, the CUDOS Network also leverages the Cosmos SDK’s staking, slashing, and governance modules in order to incentivize a minimum of 95% up time, and to swiftly eliminate validators known to perform double-signs or other known forms of bad actor behaviours.
Who are the major partners of CUDOS?
CUDOS are partnered with major and recognised brands across both blockchain and enterprise computing verticals including AMD, Ultra & Algorand. Strategic backers include Outlier Ventures (OV), Moonwhale, Moonrock, Brilliance Ventures, GBV, Spincrypto, Double Peak, Coinvision and BMW Capital.
How many CUDOS coins are there in circulation?
There is a maximum supply of 10 billion CUDOS tokens released over a 10 year period (starting from the 11th January 2021). At time of writing there was a circulating supply of 275 million. The total supply of 10 billion CUDOS is distributed via multiple allocations, with 34% Ecosystem & Community Development, 33.78% Reserve, 20% Team (2% released based per milestone achieved. 10 key pre-determined milestones), 5% Advisors and 7.22% to presale token holders. Use of funds will be as follows: 30% Research & Product Development, 10% Administration & Operations, 20% marketing, 10% CUDOS Validator Nodes (CVN), 13% User Acquisition, 10% Community Engagement and 7% Contingency.