Our world is awash in an ocean of data. In 2018, more than 2.5 quintillion bytes of data were created every day. With more than 40% of the global population still digitally inactive, coupled with the emergence of 5G networks, the amount of data processed daily will grow exponentially in the foreseeable future. How these data are stored, processed, and utilised is a critical issue for businesses.
Access to real-time information is critical to the success of organisations today. At present, there is broad recognition that centralised computing architectures cannot support the storage and compute needs of the future due to problems like latency, cost, unreliability, and security. Combined, edge computing and blockchain technology offer some unique solutions to these problems.
What is Edge Computing?
Edge devices occupy the periphery of networks and eliminate the need to centrally process information by enabling rapid processing at the edge, effectively guaranteeing faster response times.
“Edge Cloud is a form of distributed cloud made up of an ecosystem that brings computing, data storage and networking closer to the location, or “Edge”, where it is needed”, clarifies Cudo Compute’s Lee Norvall, a compute product owner with the decentralised cloud network.
With his experience in the cloud services sector spanning over two decades, Lee’s current quest is to wed edge computing with blockchain technology to tackle fundamental global challenges like poverty and inequality. Understanding how this can be realised requires a quick reminder of how blockchains work.
What is blockchain, and how does It work?
Blockchains store information chronologically in a secure, distributed, and transparent way. Applications of the technology allow for perfectly accessible transactions that eliminate the need for trust between transacting parties. Blockchains have enabled the equitable distribution of storage and compute resources with incentives fairly distributed across the network in the cloud and computation industry. This opens the possibility for monetising compute and storage and better utilisation of the already available capacities because personal devices can effectively act as “edge” machines on a vast global network, simultaneously enabling faster transactions whilst eliminating waste.
Cudo’s integrative framework and its unique potential
This is essentially the bedrock of the Cudos model. Creating a scalable and decentralised network that can power businesses and their computational needs while allowing the world’s less well-off the opportunity to meet those needs is an innovative solution to an otherwise intractable problem. Last week’s announcement of the Tingo-Cudos partnership underscores the potential of this model. For example, 2021 estimates put poverty levels in Nigeria at 47%, a worrisome figure for a country also plagued by rising inflation and a worsening security crisis.
Despite these challenges, internet penetration rates in Nigeria have risen consistently since 2005, providing hope for inclusion and participation in the dividends of the Tingo-Cudo alliance. With more similar partnerships on the way, Cudo’s integrative model will make a difference for many people. But, as Lee Norvall puts it: “a spare device here could mean one more gaming console, in another part of the world, it could mean food and water”.
You can make a difference!
Blockchain technology and edge computing can be used together in the fight against poverty and inequality, and you have a significant role to play in this endeavour.
Data centres and cloud service providers are required. We kindly ask you to reach out to us now for collaboration to help us with either of these needs.
Just in case you missed any of our latest announcements, please catch up on some of our recent partnerships here.
Together, let us harness the combination of blockchain technology and edge computing to alleviate the social and economic challenges facing our world.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permission less 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.