Already a barrier to mass adoption, experts seek a solution to a 1,000x increase in capacity needed to power the metaverse.
Blockchain holds significant promise for avid cryptocurrency investors and the world at large. Unfortunately, the keyword in this phrase is “promising.” Upon an initial industry inspection, high computing costs are among the apparent barriers before the technology is ready for prominent, real-world applications.
Addressing this concern then comes down to lowering the cost of processing power to be affordable for the average user. If this wasn’t already challenging in itself, problems in processing costs only become more prevalent with the rising interest in nonfungible tokens (NFTs) and the surrounding metaverse. Experts from Intel suggest a 1,000x increase in power will be needed ahead of currency capacity.
In part, these high costs can be attributed to the monopolization of cloud computing providers, which as the laws of economics would have it, limit competition, which keeps prices affordable in a healthy market. Of course, monopolization from centralized providers also presents additional concerns when entire industries become more reliant on their services. For these reasons, plausible solutions must consider the factor of decentralization.
Cudo Compute is emerging as a solution specifically targeted to fill this gap as a scalable compute network. The answer will effectively power the metaverse, combining gaming experiences, NFTs and (decentralised finance) DeFi so an average user can benefit from the benefits of decentralised Web 3.0.
In response to the quickly changing ecosystem, the team behind Cudos has since announced the completion of their Phase 4 Testnet, the launch of mainnet in late February and progress against the final stages of their token migration from ERC-20 to its native chain.
Matt Hawkins, the founder and CEO of Cudos, goes on to share,
“With only a few days until our mainnet launch, we’re excited about seeing the culmination of months of work on our testnet and token migration. This is far more than bringing benefits to our communities and stakeholders, it is about bringing closer to life our vision of a decentralized, sustainable, and connected world through our compute solution.”
With a lofty mission to empower people and organizations with cheaper, more accessible and sustainable computing through spare capacity utilization, the mainnet launch suggests successful progress towards achieving the mission Matt outlines.
The inner workings of a robust ecosystem
In alignment with the team’s aspiring vision, Cudos has been working hard to expand its ecosystem with powerful partnerships that will help to power the NFTs, the gaming world and the metaverse as a whole.
One of these alliances is a three-way partnership between Gingo, Cornucopias and Cudos, which will extend the blockchain gaming metaverse with the creation of a new NFT building method, which will, in turn, add additional revenue for Tingo’s customer base. The result being a fully-fledged and completely inclusive digital ecosystem.
On the accessibility side, the team has partnered with Functionland, a Blockchain-Attached Storage (BAS) provider that will help to support their decentralised storage networks. Working together, Cudo’s layer-1 blockchain network will become the scalable computing foundation from its data center servers, gaming PCs, and mining rigs.
By working together, these two projects are equipped to challenge the monopoly of centralised cloud computing giants, Functionland eliminating the need to pay rising cloud subscription costs, and Cudos for providing near-limitless computational capacity.
Further extending their reach is a project known as MELD. The team behind MELD is adding an interface into the Cudos network API from MELDapp wallets, providing access to Cudos mining services to their own community.
Cloud computing, but make it ethical
With a successful testnet phase, numerous partnerships, and charity contributions, Cudos proves a strong foundation in 2022. To propel future growth plans, the team is currently seeking out partnerships with data centers and cloud service providers across the globe.
The team encouraged interested parties to register their interest since it is these ones who underpin the vision of a sustainable, decentralised and connected world.
As history has proven, mainnet launches are typically catalysts for growing market recognition and present massive potential for project appreciation, suggesting the project is well-prepared for a future defined by the metaverse.
Learn more about Cudo Compute