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Cudos, the UK-based decentralised cloud and computation network, has announced that its token CUDOS is listing on Huobi Global, one of the world’s largest cryptocurrency exchanges. The CUDOS/USDT pair will be tradeable on Huobi from 30th March 2022. This is the token’s highest-profile listing to date.
The Cudos network is a multi-layered blockchain that aims to solve fundamental issues in computation, off-chain data gathering, and cloud services. Its native CUDOS token is critical for its ecosystem’s efficient functioning. Utilising a delegated Proof of Stake (DPoS) consensus model, the token secures the network and enables users to exercise power by voting on governance proposals.
“Over the last year, the Cudos network has grown exponentially, demonstrating the enormous demand for environmentally friendly cloud and computation solutions. Our successful testnet, which attracted thousands of developers, is a testament to our community’s immense support and commitment. The Huobi listing is the latest validation of our efforts toward realising our goals and underscores our dedication to expanding global access to CUDOS. As a compute network powering blockchain and cloud by enabling anyone to contribute spare computing capacity, this listing expands our global coverage,” said Matt Hawkins, CEO of the Cudos Network.
Empowered by the network’s cost-efficient model, developers will be able to install next-generation smart contracts based on CosmWasm (and eventually Ethereum Virtual Machines (EVMs) via Ethermint), benefitting from the robust security guaranteed by blockchain technology. Cudos achieves this enhanced degree of efficiency and security by utilising a broad community of Validators combined with a resilient node design. As a result, network users trust the various enterprise and developer use cases that can deploy on the platform.
Token utility
Holders of CUDOS will gain access to wide-ranging benefits from staking on the Cudos network, liquidity…
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