24 - Why did you choose Ethereum and Algorand blockchains in particular? Are there plans of integrating other blockchains?
Ethereum is the behemoth out there and the most costly due to its current layer 1 bottlenecks. I think we have all felt the pain of gas fees and slow transfers.
Algorand was the first to partner with us and for them we can provide their ecosystem with Turing complete compute, which they do not support (by design).
Polkadot, Cosmos and Solana are 3 that we are strategising next (order to be decided) because of the fast scaling ecosystems that they are building and the availability of bridges for us to use / build upon.
Our plan is to bridge to other blockchains as well, Tron may well be one of these in the future, but there isn’t a current plan in place for Tron for transparency.
Ethereum is the behemoth out there and the most costly due to its current layer 1 bottlenecks. I think we have all felt the pain of gas fees and slow transfers.
Algorand was the first to partner with us and for them we can provide their ecosystem with Turing complete compute, which they do not support (by design).
Polkadot, Cosmos and Solana are 3 that we are strategising next (order to be decided) because of the fast scaling ecosystems that they are building and the availability of bridges for us to use / build upon.
Our plan is to bridge to other blockchains as well, Tron may well be one of these in the future, but there isn’t a current plan in place for Tron for transparency.
25 - What is the competitive advantage your project has that you feel most confident about?
We have a fully distributed cloud computing supply base of over 60k daily active devices live and earning from our Cudo miner application already. Other distributed clouds are having to use AWS and Azure for their more intensive workloads.
We will be the first to bridge blockchain networks with high performance cloud computing over a distributed supply. End-to-end.
Our supply side application is the first mining management software that pays out in non proof-of-work currencies. Everyone here will be able to earn $Cudos from their machines as soon as we have added $Cudos to the list of payout options in the near future.
We want everyone to benefit.
We have a fully distributed cloud computing supply base of over 60k daily active devices live and earning from our Cudo miner application already. Other distributed clouds are having to use AWS and Azure for their more intensive workloads.
We will be the first to bridge blockchain networks with high performance cloud computing over a distributed supply. End-to-end.
Our supply side application is the first mining management software that pays out in non proof-of-work currencies. Everyone here will be able to earn $Cudos from their machines as soon as we have added $Cudos to the list of payout options in the near future.
We want everyone to benefit.
26 - What's the main role of $Cudos in your ecosystem? Could you explain its utilities & real-life use cases?
For utility, $Cudos will have several functions:
- Staking: for rewards and network transactions (validators and delegated stakers)
- Staking: for compute workloads to build a device 'Trust' score (compute nodes)
- Payments: to validators and compute nodes
- Payout option: to end users (such as Cudo Miner users)
- Medium of exchange: to remove barriers we will receive payment and pay out in a plethora of fiat and crypto options. $Cudos becomes the medium of exchange on the platform
Use cases break down:
🔸Providing turing complete solutions to non turing complete networks:
Algorand is a good example, with whom we have a partnership. 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's 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 that are lined up to use the Cudos global network to expand their own network coverage in the future
🔸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.
🔸Connecting blockchains to external API's and data feeds:
Using our Oracles, which will initially be live on Ethereum and then Cosmos, the network provides direct access to external API’s and data feeds. We are able to support this with each blockchain we bridge onto.
For utility, $Cudos will have several functions:
- Staking: for rewards and network transactions (validators and delegated stakers)
- Staking: for compute workloads to build a device 'Trust' score (compute nodes)
- Payments: to validators and compute nodes
- Payout option: to end users (such as Cudo Miner users)
- Medium of exchange: to remove barriers we will receive payment and pay out in a plethora of fiat and crypto options. $Cudos becomes the medium of exchange on the platform
Use cases break down:
🔸Providing turing complete solutions to non turing complete networks:
Algorand is a good example, with whom we have a partnership. 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's 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 that are lined up to use the Cudos global network to expand their own network coverage in the future
🔸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.
🔸Connecting blockchains to external API's and data feeds:
Using our Oracles, which will initially be live on Ethereum and then Cosmos, the network provides direct access to external API’s and data feeds. We are able to support this with each blockchain we bridge onto.
27 - Do you have any plans to attract Non-crypto investors to Cudos? What are the plans to increase awareness around Cudos in non-crypto space ?
Our overall business/ecosystem is both onchain and offchain and so there is equal work happening within the existing cloud space. We have many equity investors into parent company Cudo Ventures including the likes of Borderless Capital, Animoca Brands and Outlier Ventures, all of whom have an active interest in both sides.
Then we have more traditional tech investors, that have invested because of our team and ability to execute our plan. The first 3 years were offchain. These investors are being educated by our team, about blockchain, crypto, tokenomics, etc and this will help with adoption within this space.
We also have a few of our enterprise partners interested in investing in the future. We have both equity investors and token backers and we have a mixture of crypto and non crypto funds/angels/syndicates supporting our growth.
Our overall business/ecosystem is both onchain and offchain and so there is equal work happening within the existing cloud space. We have many equity investors into parent company Cudo Ventures including the likes of Borderless Capital, Animoca Brands and Outlier Ventures, all of whom have an active interest in both sides.
Then we have more traditional tech investors, that have invested because of our team and ability to execute our plan. The first 3 years were offchain. These investors are being educated by our team, about blockchain, crypto, tokenomics, etc and this will help with adoption within this space.
We also have a few of our enterprise partners interested in investing in the future. We have both equity investors and token backers and we have a mixture of crypto and non crypto funds/angels/syndicates supporting our growth.
28 - What are the ways to generate revenue in the long run ?
You can monetise hardware already with Cudo Miner, providing a passive income. We will be introducing Cudo Compute in the future (actively developing at present), which will pay a premium.
You can stake tokens. Right now this is available via prestaking on Ascendex and via our portal at wallet.cudos.org
You can become a validator too, more info on that can be found here.
You can monetise hardware already with Cudo Miner, providing a passive income. We will be introducing Cudo Compute in the future (actively developing at present), which will pay a premium.
You can stake tokens. Right now this is available via prestaking on Ascendex and via our portal at wallet.cudos.org
You can become a validator too, more info on that can be found here.
29 - What happens when a Validator exits the platform ?
If your validator is not active, this means they have exited the platform and your tokens that you have staked through them are not earning staking rewards anymore.
In this case, you must navigate to the Staking tab of the Staking Portal, select that validator and collect all your tokens and pending staking rewards immediately, with no unbounding period required. Then you can select a new one.
If your validator is not active, this means they have exited the platform and your tokens that you have staked through them are not earning staking rewards anymore.
In this case, you must navigate to the Staking tab of the Staking Portal, select that validator and collect all your tokens and pending staking rewards immediately, with no unbounding period required. Then you can select a new one.
30 - Does the validator choose what % commission they can charge?
The fee % is freely chosen by the node operator. Min 2% for security, up to 100%.
More tokens delegated to a node increases its trust score, which is a metric developers use when choosing which nodes to use.
The fee % is freely chosen by the node operator. Min 2% for security, up to 100%.
More tokens delegated to a node increases its trust score, which is a metric developers use when choosing which nodes to use.
31 - What is the meaning of the country next to the validator name on the staking portal ?
It’s where the node is situated so that we can show the global distribution and also highlights where we have gaps.
It’s where the node is situated so that we can show the global distribution and also highlights where we have gaps.
32 - Is it possible to host Metaverse games on Cudos?
Absolutely, we are already working on this with a couple of Metaverse games, it is a perfect use case for the Cudos ecosystem.
Absolutely, we are already working on this with a couple of Metaverse games, it is a perfect use case for the Cudos ecosystem.
33 - How will the switch from ERC20 to Cudos native on Cosmos happen, does an action need to happen?
There are be 2 ways of doing it :
One is via Automatic migration that will happen simultaneously with the Mainnet release. To be a part of this, one will need to map their ERC-20 wallet address with Cosmos based wallet (like Keplr) address. We have prepared an address mapping tool for that process. Mapping of the addresses will be a process that will ask for some ETH, but that's all you'll spend; then, when auto migration happens, you'll have your native Cudos coins available in your mapped Cosmos based wallet.
The other way will be for those who will miss the automatic migration. We’re creating a smart contract for that situation at the moment as well. It will cost some ETH once one decides to go that way too, and there will be few manual steps to do it. A good thing to note here is that even if one doesn't go through this process for years to come (for example, forgets on his Cudos tokens in some ERC-20 wallet somewhere), he'll still be able to transfer them to Cudos native coins after years to come, we won't be draining the old tokens ever or claiming them as our own etc. It's the way to show dedication to the community and transparency.
There are be 2 ways of doing it :
One is via Automatic migration that will happen simultaneously with the Mainnet release. To be a part of this, one will need to map their ERC-20 wallet address with Cosmos based wallet (like Keplr) address. We have prepared an address mapping tool for that process. Mapping of the addresses will be a process that will ask for some ETH, but that's all you'll spend; then, when auto migration happens, you'll have your native Cudos coins available in your mapped Cosmos based wallet.
The other way will be for those who will miss the automatic migration. We’re creating a smart contract for that situation at the moment as well. It will cost some ETH once one decides to go that way too, and there will be few manual steps to do it. A good thing to note here is that even if one doesn't go through this process for years to come (for example, forgets on his Cudos tokens in some ERC-20 wallet somewhere), he'll still be able to transfer them to Cudos native coins after years to come, we won't be draining the old tokens ever or claiming them as our own etc. It's the way to show dedication to the community and transparency.
34 - What is the user interaction strategy? Do you have a way to make it easier for beginners?
The plan is to make the Cudos platform a simple “plug and play” interface similar to what we have for our other product CudoMiner, but even more straightforward. We’ll also have tons of walkthroughs to make the whole process as easy as possible
The plan is to make the Cudos platform a simple “plug and play” interface similar to what we have for our other product CudoMiner, but even more straightforward. We’ll also have tons of walkthroughs to make the whole process as easy as possible
35 - What are the main challenges you faced while building Cudos? Or do you expect it to be after the mainnet launch?
The challenge of bringing awareness of the benefits of decentralized systems to those who sit outside the space.
We feel confident that we’ll tackle this as several verticals, including gaming, NFTs, and the metaverse, fall within our network that is now breaking into the mainstream.
As well as that, many of our partners and advisors, including AMD and Chris Deering (former President of Sony entertainment), are supporting us in our push to the mainstream
The challenge of bringing awareness of the benefits of decentralized systems to those who sit outside the space.
We feel confident that we’ll tackle this as several verticals, including gaming, NFTs, and the metaverse, fall within our network that is now breaking into the mainstream.
As well as that, many of our partners and advisors, including AMD and Chris Deering (former President of Sony entertainment), are supporting us in our push to the mainstream
36 - Is it intended that the Cudos node will operate on a mobile platform in addition to the IT platform?
100% this is definitely on the roadmap for us. We’ve recently partnered with Tingo mobile in Nigeria, which will lead to Cudos being live on over 9 million mobile devices. So we’ll definitely look to increase this number moving forward.
100% this is definitely on the roadmap for us. We’ve recently partnered with Tingo mobile in Nigeria, which will lead to Cudos being live on over 9 million mobile devices. So we’ll definitely look to increase this number moving forward.
37 - Cudos has two main security features: Secure Memory Encryption (SME) and Secure Encrypted Virtualisation (SEV). How these features work and how important they are?
The Cudos Validator Nodes (CVN) provide the decentralized layer to the network. There will be 100 CVN’s in total, globally distributed, running either AMD (SEV/SME) or Intel’s (SGX) encryption technology.
These nodes will run all blockchain application workloads and integrate with multiple chains. Blockchain developers will be able to securely connect to CVNs matching their requirements (geography, trust score).
The CVNs can distribute work out to non CVNs when additional computational power is required without communicating with a centralised entity. The SME and SEV will play a vital role in keeping our network secure.
The Cudos Validator Nodes (CVN) provide the decentralized layer to the network. There will be 100 CVN’s in total, globally distributed, running either AMD (SEV/SME) or Intel’s (SGX) encryption technology.
These nodes will run all blockchain application workloads and integrate with multiple chains. Blockchain developers will be able to securely connect to CVNs matching their requirements (geography, trust score).
The CVNs can distribute work out to non CVNs when additional computational power is required without communicating with a centralised entity. The SME and SEV will play a vital role in keeping our network secure.
38 - Do you have a token burn or buyback program plan to attract investors?
We instead encourage users to help secure the network by locking tokens via staking, for which they will also receive rewards.
We instead encourage users to help secure the network by locking tokens via staking, for which they will also receive rewards.
39 - Are you ready to onboard non-tech-savvy people as validators?
At the moment, we have solid criteria for validators to ensure we’re in the best shape from genesis; however, we will open this up to the wider public to ensure we are as decentralized as possible.
At the moment, we have solid criteria for validators to ensure we’re in the best shape from genesis; however, we will open this up to the wider public to ensure we are as decentralized as possible.
40 - What progress has Cudos made within the last 12 months?
While looking to the future is important, we should also reflect on our progress. The figures alone show the reach we’ve already achieved for the Cudos network: we can boast 500,000 users across 150+ countries, with 50,000 nodes helping to power the network and 22,000 developers signed up to support us.
Beyond the numbers, we also have an ever-growing list of partnerships with major global providers such as AMD and Tingo and listings on major exchanges such as CoinField and Huobi. And from a product standpoint, we’ve seen significant success with our workload-based monetisation app Cudo Miner, our infrastructure management platform, and the alpha phase of our compute network.
While looking to the future is important, we should also reflect on our progress. The figures alone show the reach we’ve already achieved for the Cudos network: we can boast 500,000 users across 150+ countries, with 50,000 nodes helping to power the network and 22,000 developers signed up to support us.
Beyond the numbers, we also have an ever-growing list of partnerships with major global providers such as AMD and Tingo and listings on major exchanges such as CoinField and Huobi. And from a product standpoint, we’ve seen significant success with our workload-based monetisation app Cudo Miner, our infrastructure management platform, and the alpha phase of our compute network.
41 - There is a lot of buzz around the KamPay partnership and the developmental potential it has to enable the people in Africa to earn passive income. Can you tell us more about the partnership?
Following the partnership with Tingo International Holdings, with the vision of ending the poverty premium in Nigeria, the Cudos blockchain and computing network now joins forces with KamPay to increase its community reach to another twenty countries in Africa. This opens the monetisation application to millions more users and brings passive crypto earning opportunities to anyone with an underutilised device.
KamPay has a DeFi stack designed for the African continent. Through its unique SMS crypto wallet, coding academy, agriculture micro lending program, and gaming and lottery partnerships, they have expanded their work throughout the continent, demonstrated by KamPay’s EcoSystem adoption across CAR, Sierra Leone, Zambia, Gambia, Niger, Chad and Tanzania. Cudos will provide its monetisation application to KamPay’s vast spanning network and provide passive earning potential to millions. The KAMPAY token will provide a new economic solution for Africans, where users can utilise devices they already own to earn passive income.
Following the partnership with Tingo International Holdings, with the vision of ending the poverty premium in Nigeria, the Cudos blockchain and computing network now joins forces with KamPay to increase its community reach to another twenty countries in Africa. This opens the monetisation application to millions more users and brings passive crypto earning opportunities to anyone with an underutilised device.
KamPay has a DeFi stack designed for the African continent. Through its unique SMS crypto wallet, coding academy, agriculture micro lending program, and gaming and lottery partnerships, they have expanded their work throughout the continent, demonstrated by KamPay’s EcoSystem adoption across CAR, Sierra Leone, Zambia, Gambia, Niger, Chad and Tanzania. Cudos will provide its monetisation application to KamPay’s vast spanning network and provide passive earning potential to millions. The KAMPAY token will provide a new economic solution for Africans, where users can utilise devices they already own to earn passive income.
42 - What are the main challenges you face while building Cudos and what do you expect it to be after the mainnet launch?
The main challenge has been something the entire blockchain space has faced, the challenge of bringing awareness of the benefits of decentralised systems to those who sit outside the space. We feel confident that we’ll tackle this as several verticals, including gaming, NFTs, and the metaverse, fall within our network that is now breaking into the mainstream. As well as that, many of our partners and advisors, including AMD and Chris Deering (former President of Sony entertainment), are supporting us in our push to the mainstream.
The main challenge has been something the entire blockchain space has faced, the challenge of bringing awareness of the benefits of decentralised systems to those who sit outside the space. We feel confident that we’ll tackle this as several verticals, including gaming, NFTs, and the metaverse, fall within our network that is now breaking into the mainstream. As well as that, many of our partners and advisors, including AMD and Chris Deering (former President of Sony entertainment), are supporting us in our push to the mainstream.
43 - How does Cudos view the Metaverse?
CEO and Founder Matt Hawkins: 'The whole concept and development of the metaverse are fantastic mainly because, in essence, the entire ethos of the metaverse is in being decentralised. Essentially, users can create their content, be rewarded for contributing to the network, and single entities don’t control environments. Instead, they are made by the many on a single platform.
Decentralised networks support this ethos, enabling anyone to contribute and earn, in a decentralised manner, rather than everything to a single corporate entity.
Cudos is the foundation on which builders and creators have the freedom to build and create upon. Our network provides the infrastructure so that the metaverse creators can focus on the cool stuff like games, NFTs, and experiences on top'.
CEO and Founder Matt Hawkins: 'The whole concept and development of the metaverse are fantastic mainly because, in essence, the entire ethos of the metaverse is in being decentralised. Essentially, users can create their content, be rewarded for contributing to the network, and single entities don’t control environments. Instead, they are made by the many on a single platform.
Decentralised networks support this ethos, enabling anyone to contribute and earn, in a decentralised manner, rather than everything to a single corporate entity.
Cudos is the foundation on which builders and creators have the freedom to build and create upon. Our network provides the infrastructure so that the metaverse creators can focus on the cool stuff like games, NFTs, and experiences on top'.