What Is Cudos (CUDOS)?

Cudos is a decentralized cloud computing network that aims to combine cloud and blockchain technology to develop sustainably cost-effective computing. Cudos aims to empower people and organizations to earn rewards and save them through inexpensive, accessible, and sustainable computing. Moreover, the platform's vision is to connect people around the globe via an affordable, decentralized computing network.

According to the whitepaper, the Cudos network involves a set of smart contracts that act as cloud computing services, connecting blockchains to secure external sources. Smart contracts are just like regular contracts. However, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. 

The CUDOS token is a multi-utility token on the Cudos platform. The token holders can use it for trading and staking. Users can also use it as a discount token to transfer a portion of the value generated on the Cudo network.

The distribution of the total token supply is as follows: 34% are for the development of the community and the ecosystem, 33.78% of the tokens on the platform are kept for reserve, 20% of the total tokens are used by the team, and 5% are used by the advisers of the platform. Furthermore, 2.22% of the tokens are for private sales, 1.67% is utilized in public sales, and 3.33% is used by strategic venture capitalists.

Also, the platform seeks to use 30% of the raised funds from the CUDOS tokens in research and product development. Out of the remaining 70%, 10% goes to administration and operations, 20% is utilized in marketing and development, 10% in node validation, and 13% in user acquisition. And lastly, 10% is used in community engagement, and 7% is kept locked for upcoming events.

History of Cudos (CUDOS)

In 2017, Cudos was founded, and in the first quarter of 2019, a beta version of the Cudos platform was launched. Matt Hawkins is the CEO and founder of the company, and David Pugh-Jones is the CMO of Cudos. He has over 16 years of experience in cloud computing. Apart from Hawkins and Pugh-Jones, Andrew Sturmey serves as the CTO of the company. The maximum total supply of CUDOS tokens is 10,000,000,000 CUDOS. The whitepaper was published in January 2021.