We have started a collaboration with Cudos, a decentralized cloud computing network used by 300,000 businesses and individuals in over 145 countries.
The Cudos Validators Network connects on-chain and off-chain resources, bridging the immutability of blockchain networks with the power of computing resources provided by a distributed network. This allows developers to host the applications on the Cudos network and connect with the underlying blockchain as needed.
Through the cooperation, applications running on the Cudos computing layer will be able to connect to the Elrond Network as a settlement layer. This will enable Elrond developers to consume Cudo Compute resources that will provide virtually any WASM, container, or virtual machine workload to their distributed network with over 300,000 users.
In addition, a portion of the CUDOS token will be bridged to the Elrond Network as ESDT token, to participate in DeFi opportunities on the Maiar Exchange. We are exploring joint operations of infrastructure, such as Cudos validator nodes, that are relevant for the collaboration and the expansion of our ecosystems.
Beniamin Mincu, Elrond Network CEO, said: “True decentralization needs to happen both at the settlement layer, from centralized financial systems to the blockchain, and at the compute layer, from centralized data centers to distribute compute networks. Platforms such as Cudos can efficiently complement the Elrond Network to offer true end-to-end decentralization.”
Matt Hawkins, CUDOS Founder and CEO, said: “We’re excited to connect to a great developer community that shares our passion for Rust! We look forward to exploring these synergies and provide Elrond devs with access to the fast and efficient Cudos distributed compute platform.”
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permissionless access to high-performance computing at scale and enable 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.