CUDOS Token Price Goes Berserk After Exchange Listing

Despite only trading on the open market for a few days, the CUDOS token has already achieved a significant price growth fuelled by the value proposition of the Cudo distributed cloud computing platform. Aiming to bridge the gap between cloud computing and blockchain ledgers, the CUDOS Network is building a layer-2 oracle that will help blockchain access off-chain computing power to fulfil innovative goals. 

The CUDOS token was listed on BitMax as part of a primary listing event on the 12th of January. Until the 19th of January, lucky traders were rewarded free tokens via a series of airdrops. The token was later listed on Poloniex, where it achieved considerable trading volumes. Multiple other listings and support for additional trading pairs will follow. 

Overview of Cudo 

Cudo represents a well-known cloud computing platform providing users worldwide with distributed cloud computing resources. Cudo clients get to access low-latency, privacy-centred, and cost-effective computing power which is harnessed from data centres, cryptocurrency mining rigs, and hardware that’s individually owned and operated. The project’s value stems from its innovative incentivisation mechanisms. Anyone who is willing to dedicate their processing power to the platform will be eligible to earn lucrative rewards. Prior to the creation of the CUDOS Network, the Cudo cloud computing resources were dedicated for machine learning, video rendering, and medical research amongst others. After the CUDOS Network becomes operational, cloud computing power harnessed by Cudo will be leveraged to power resource-hungry blockchain technology. Over the long run, this will encourage the creation of high performance blockchains that will be able to seamlessly achieve bigger goals. 

From a technical standpoint, network validators are deemed responsible to assign compute jobs to Cudo’s network of off-chain processing power suppliers. As soon as the compute jobs are resolved, the data is transparently and securely sent to blockchain ledgers. 

CUDOS Token Surpasses 1700% in Evaluation

During the strategic funding phase of the CUDOS Network, investors were able to purchase the token at $0.006. Once the token was listed on the public market, it surpassed 1700% in growth, by reaching an all-time high of $0.147. Since then, the price saw quite a bit of volatility, as is the case with any newly-listed token. However, it remained above all predicted price targets and managed to settle at roughly $0.1 per token for the time being. 

The CUDOS/USDT pair is seeing a bullish sentiment at this time, since the blockchain market requires additional means of accessing off-chain resources. Moreover, as seen in a subsequent section, CUDOS holds great utility within the network, as it was designed to enable participation and provide monetary incentives to those who choose to run their very own validator nodes. 

Based on these aspects, the public token listing proved a huge success for early investors and token traders. It’s important to keep in mind that the supply of CUDOS tokens is capped at 10 billion, with a percentage dedicated for public use. The funds raised through the network’s private sale and public token listing will be utilized to fund platform development, customer acquisition, marketing, and other relevant campaigns. 

Exploring the Utility of CUDOS

CUDOS token holders can access ingenious revenue streams by powering the network. With this in mind, those who choose to stake 2 million CUDOS will become eligible to operate their own validator node. In doing so, stakers can earn an annual percentage return (APR) varying between 5% and 30% of their stake. The actual value will be directly correlated to the number of validator nodes operating on the network. A lower number of nodes will lead to APR-based incentives, whereas a higher number of nodes will lead to a drop in the estimated APR for each user. Delegated staking is also being built to ensure that even those who are unable to commit 2 million CUDOS in stake will get to earn rewards.