We’d like to say massive thanks to all of you who joined the Cudos AMA on 29th September 2021 at the AMA Lovers Club telegram channel. We appreciate all your support. This is a recap of the entire session, in case you missed it!
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on CUDOS?
Matt Hawkins: Sure, hi everyone, I’m Matt Hawkins, CEO and Founder of Cudos. My background is that I previously built C4L, one of the UK’s largest cloud and data centre providers. We ended up providing 1% of the UK’s infrastructure and had a global business. The Cudos journey began in 2017 to make the same in software using blockchain to use the world’s spare computing capacity.
We have a team of experienced blockchain professionals and engineers spread across the globe.
Q2: Can you introduce CUDOS, what critical problems does it solve that existing solutions are not solving and what’s your competitive advantage?
Matt Hawkins: Of course, the Cudos Network is a special-purpose blockchain designed to provide high-performance, trustless, and permissionless cloud computing for all.
Our vision is to make better use of the world’s computing power. We started development in Jan 2018. Our initial focus was to build a global computing power supply using other people’s machines, such as service providers, miners, and gamers.
This has helped us scale a distributed computing base in over 145 countries. We are now focusing on the demand side, and this is why we created Cudos, the blockchain-focused subsidiary that will provide the new web 3.0 world with access to high-performance computing power.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
Matt Hawkins: We have achieved two key milestones this year. The first was the launch of our very own staking platform.
The second and most recent was the launch of our incentivised testnet Project Artemis, which is currently in its first phase, a massive step for us towards mainnet.
We’re aiming to reach mainnet in Q4 this year or Q1 next year.
Q4: Can you briefly describe your partnerships so far?
Matt Hawkins: Partnership wise, we have recently announced Accubits as technology partners.
Accubits are experts in both AI and blockchain, and our collaboration will see new dApps, tools and compute use cases emerge on the Cudos Network.
We are also continuing to drive forwards with AMD. Many in our community will know that this is taking more time than we initially planned.
Nonetheless, the collaboration has been in place for over three years now, and we are getting closer to our first big joint launch.
Q5: Finally, in the introduction segment, can you give an overview of the tokenomics and utility of the CUDOS token?
Matt Hawkins: Sure, 10 bn tokens will be released over 10 years, starting fast and scaling down over the period.
20% for the team: an initial lock of 6 months which has just passed, and 36 months vesting after that.
However, these first vested team tokens have been staked into the network and will only be released to the team per milestone. We have ten milestones to hit as a project. That keeps all team members motivated to deliver toward our vision.
Elsewhere, we have 34% allocated for ecosystem and development. This is where the staking rewards come from, for example. Operations, listings, and marketing, also fall in this category.
CUDOS is a utility token with functionality including staking, payment and medium of exchange.
2nd Segment: LIVE Questions
Q1: I read that Project Artemis is live right now. Congratulations! Can you tell us which phase you are on? And how can Cudos users participate in this testnet? Are they rewarded for their participation and collaboration?
Matt Hawkins: Right now, Project Artemis is in its first phase Apollo (set-up phase). You can, of course, find out all you need to know to get involved in our article on the subject.
Q2: It’s really impressive the wide range of services that Cudos offers, but it can be overwhelming for beginner users to use your platform. Do you have any educational content that explains how works Cudos, such as videos or explanatory articles?
Matt Hawkins: Keep an eye on our Youtube channel. We’ll have lots of tutorials and educational content for new users coming soon.
Q3: I read that apart from being able to stake tokens and receive rewards for it, the validators of the CUDOS ecosystem get rewards for their contribution, so what are the requirements, how can I become a validator, and what kind of benefits do I gain?
Matt Hawkins: To become a validator, you need to hold 2 million CUDOS tokens and must meet particular hardware requirements, which you can find here: Cudos Validator Hardware requirements
If you meet these requirements, you can sign up by using this form.
Q4: I know you believe there is no excuse as a new technology to avoid being carbon neutral, so how do you offset all of the carbon footprints produced on the Cudos Network? Does your network being PoS instead of PoW offer you any advantage?
Matt Hawkins: Yes, the environment is crucial to us and an issue that needs to be addressed in our industry. The Cudos Network is a PoS network. Also, we have signed a partnership with Climatetrade, and we will be offsetting all of the carbon produced on the Cudos Network. So whatever our validators produce, we will offset by purchasing carbon credits. Climatetrade is 100% on-chain, and that is why we chose them, as we can provably track and trust their carbon project purchases.
In the future, we would like to go even further and help our hardware owners contribute to the network and offset their carbon footprint. This will likely entail a feature within the application to automatically set aside a % of their earnings to offset carbon.
Q5: In 2020, the global cloud computing market size was $274.79 billion, and it is expected to grow at a Compound Annual Growth Rate of 19.1% from 2021 to 2028. Now that the demand for cloud computing continues to grow, there will be an increased demand for financially efficient alternatives. What will CUDOS do differently compared with other competitors with traditional centralized but powerful solutions and technologies? And how will CUDOS take the cloud market into a new realm?
Matt Hawkins: Great question! We will empower users with access to spare computing power like Uber empowered car drivers or how Air BNB has empowered homeowners.
Additionally, we’ll be offering a much more economically efficient alternative to the traditional cloud computing providers, which will benefit users. Cudos is just the next step in the evolution of cloud technology.
Q6: I understand that Cudos works with Cosmos using the gravity bridge to connect Cosmos with Ethereum. So can you tell me which language dApps developers can use? RUST, SOLIDITY or both?
Matt Hawkins: Yes, you’ll be able to take advantage of both languages. With the Gravity Bridge in place between Ethereum and us, people will be able to use EVM and write smart contracts in Solidity.
Rust as a language is commonly used. CosmWasm as a tool removes a number of the attack vectors that have been seen on Ethereum.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permissionless access to high-performance computing at scale and enables scaling of computing resources to 100,000’s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.
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