Recapitulation of CUDOS PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 29th September, 2021
Time: 11:00 AM UTC
The CUDOS PROJECT team was represented by @Blockmatt who judiciously shared with us detailed knowledge and information about CUDOS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on CUDOS?
ANS: Sure, Hi everyone, I’m Matt Hawkins CEO and Founder of Cudos, my background is I previously built C4L which was 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, with the aim of making the same in software using blockchain to use the world’s spare computing capacity.
The team is built up 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 the competitive advantage?
ANS: Of course, 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. Starting development in Jan 18, our initial focus was to build a global supply of computing power using other peoples machines.
Service provider, miners and gamers. This has helped us scale a distributed computing base in over 145 countries. We are now focused on the demand side and this is why we created Cudos, the blockchain-focused subsidiary that will provide the new web 3 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?
ANS: We have achieved 2 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 programme 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/Q1 next year.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: 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 for.
Nonetheless, the collaboration has been in place for over 3 years now and we are getting closer to the first big news / product launch.
It’s worth following our podcast series ‘CudosCast’ as we recently interviewed the Head of Blockchain at AMD which is now live. Check it out here https://anchor.fm/cudoscast-cudos.
As well as this we’ve partnered with Algorand, Shyft, Ultra and many more!
Q5: Finally on the introduction segment, Can you give an overview of the Tokenomics, and UTILITY of $CUDOS token?
ANS: Sure, 10bn tokens released over a 10 year period (starting fast and scaling down over the 10 years)
20% for team: initial lock of 6 months which has just passed and 36 months vesting thereafter.
10bn tokens released over a 10 year period (starting fast and scaling down over the 10 years)
20% for team: initial lock of 6 months which has just passed and 36 months vesting thereafter
However, these first vested team tokens have been staked into the network and will only be released to team per milestone. We have 10 milestones to hit as a project to reach our vision. That keeps all team members motivated to deliver against the company vision
Elsewhere, we have 34% allocated for ecosystem and development. This is where the staking rewards come from for example. Operations, listings, marketing etc
CUDOS is a utility token with functionality including staking, payment and medium of exchange.
2nd Segment: LIVE Questions
Q1: I read that the Project Artemis is live right now. Congratulations! Can you tell us which phase are you on? And how can Cudos users participate in this testnet? Are they rewarded for their participation and collaboration?
ANS: Right now Project Artemis is in its first phase Apollo (set-up phase) you can find out all you need to know to get involved here👇👇👇
Q2: It's really impressive the wide range of services that Cudos offers, but for a beginner user can be overwhelming to use your platform. Do you have any educational content that explains how works Cudos, such as videos or explanatory articles?
ANS: Keep an eye on our Yotube channel, we'll have lot's of tutorials and educational content for new users coming soon.
Q3: I read that apart from being able to bet tokens and receive rewards for it, also the validators of the CUDOS ecosystem get rewards for their contribution, so what are the requirements they demand and what steps should I follow to become a validator of the CUDOS ecosystem and what kind of benefits do I gain by becoming a validator?
ANS: To become a validator you need to hold 2million Cudos tokens and must meet particular harware requirments, which you can find here: https://docs.cudos.org/build/#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?
ANS: Yes the environment is very important to us and an issue that needs to be addressed in our industry. The Cudos Network is a POS network as well as that 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 that by purchasing carbon credits. Climatetrade is 100% onchain 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 contributing to the network, offset their carbon footprint as well. 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 valued at $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 is CUDOS going to do differently from other competitors with traditional centralized but really powerful solutions and technologies? And how will CUDOS take the cloud market into a new realm?
ANS: Great question! We will empower users with access to spare computing power in the same way Uber empowered car drivers or how Air BNB has empowered home owners.
As well as that 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 have understood that Cudos works with Cosmos use the gravity bridge to connect cosmos with ethereum. So can you tell me which language dapps developers can use? RUST, SOLIDITY or BOTH?
ANS: Yes you'll be able to take advantage of both languages, with the Gravity Bridge in place between us and Ethereum, it means that 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.
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