One commonality among the various narratives around Web3 is that it will decentralise the internet, making it more transparent.
Web1, also known as World Wide Web, was an era of primarily read-only information. But owning servers and interacting with other servers via internet protocols proved unsustainable in the long run. It made way for corporations that deployed infrastructure to enable scaling, giving birth to Web2.
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Why decentralised compute is Web3’s next frontier
The explosion of Web2 and the internet becoming social created massive volumes of data and content. However, the increased reliance on centralised architecture resulted in the monopoly of tech oligarchs, creating roadblocks for innovative ideas to emerge.
Web3 is poised to democratise the internet with the underlying blockchain technology by removing the intermediaries and allowing users to interact without compromising data and privacy.
How are we gearing up for Web3?
We are a layer 1 blockchain building the foundation of the new internet by addressing the limitations of other blockchains. Cudos was conceived to scale the blockchain process with the benefits of decentralisation like scaling, trustlessness, privacy, etc., cementing the foundation of mass adoption.
With our goal set on launching our mainnet in February, our strategic partnerships are positioned to accelerate our Web3 vision.
Cross-chain interoperability with Cosmos
The Cudos blockchain is built on Cosmos. Its Inter-Blockchain Communication protocol makes us cross-chain, enabling the transfer of tokens, assets, NFTs, and data to and from other blockchains.
Focussed on reducing entry barriers for developers to build dApps, the Cudos blockchain is designed to help developers build on our limitless network.
Learn more:
Cudos mainnet — Part 1: What are the benefits for our blockchain?
This association makes Cudos the first network supporting NFTs natively on a Cosmos chain.
Gaming rewards with GOATi and AMD
The gaming community is an integral part of our Web3 vision at Cudos. Therefore, we joined hands with GOATi, allowing Cudos monetisation application to synchronise with GOATi’s gaming ecosystem, enabling users to earn rewards. These rewards are redeemable in GOATi’s in-game store set up for blockchain gaming. The synergy of this partnership comes alive with the support of our hardware partner AMD.
Financial inclusivity with Tingo and MELD
Web3 is characterised by its ability to be open, trustless, and permissionless. It has the power to provide access to permissionless financial services with just a smartphone.
We leveraged the potential of blockchain through our partnership with telecommunications service provider Tingo by creating a positive impact in the lives of 10 million Nigerians.
The partnership paves the path for the financial empowerment of the people in rural Nigeria. It makes Cudos the first blockchain network to connect consumers to scalable computing through smart contracts. Moreover, it gives access to 10 million Nigerians to join Cudos’ decentralised computing network.
DeFi will continue to be an integral part of Web3. DeFi stands to overcome the pain points around traditional finance and remove the reliance on financial institutions. We entered into a strategic partnership with DeFi protocol, MELD, to offer a complete financial service to customers. It will build a MELDapp wallet integration into the Cudos crypto mining infrastructure through a simple user interface available on mobile and web wallets.
Decentralised compute is a must
Is it truly a decentralised web if it runs on hyper-centralised cloud infrastructure? How can building a decentralised app on a centralised infrastructure solve the problem?
Rationally, decentralised cloud computing needs to be the backbone of Web3. However, for the dApps to be genuinely decentralised, they should be run on decentralised cloud infrastructure distributed among millions of people globally. Cudo Compute allows users to lend their spare hardware and earn for sharing their compute.
As we build Web3, our purpose is to reduce entry barriers. You can support our initiatives by partnering with us at this critical stage of our development.
About Cudos
Cudos is powering the metaverse bringing together DeFi, NFTs, and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.
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Originally published at https://www.cudos.org.
