Cudos, a multi-chain layer-2 solution providing Turing-complete compute and external data to blockchains, today announced that Cognitive Blockchain has made an equity investment in its parent company Cudo, and will be providing expertise to Cudo for the vast Chinese blockchain market.
“We’re extremely grateful for the opportunity to strategically partner with Cognitive Blockchain. Their team, led by Managing Partner Jenny Yue, instantly recognized our vision, and demonstrated a deep understanding of both the market opportunity that we’re filling, and the tech stack that we’re building. Unlocking the door to the Chinese market is hugely important to our growth strategy, and Cognitive Blockchain will be instrumental in helping us succeed.”
– Pete Hill, VP of Sales at Cudos
Cognitive Blockchain consists of a blockchain education platform and community club; as well as a venture capital program. The venture capital focus for Cognitive Blockchain is on long-term value investments in blockchain technology start-ups, and to support the long-term development and ecosystem building of its investment projects.
“We believe that Cudos’ ability to bridge the gap between traditional cloud services and blockchain, providing layer-2 scaling solution & using idle computing power, is poised to be a game-changer in the web3 space. Cudos is positioned to be the industry leader of the next-gen distributed computing network for blockchains. It will power a fully decentralized & scalable compute solution that will revolutionize how computing power is applied and utilized. We’re very excited to join Cudos as a network validator and strategic partner.”
– Jenny Yue, Co-Founder and Managing Partner at Cognitive Blockchain
The Cudos network will enable anyone to sell or consume excess computational resources, either via blockchain/smart contract or via more traditional cloud computing APIs. The underlying Cudo network has been under development since 2017 and is active with over 150,000 users in over 145 countries; including around 20,000 nodes running various blockchain and compute workloads on the Cudo network.
CUDOS token, the native asset of the network is also now available for exchange.
Token Utility:
- Staking to become a CUDOS Validator Node (CVN) and get rewards;
- Delegated staking to support CVNs;
- MoE powering the CUDOS network;
- and staking to qualify for receiving general compute jobs, and to obtain fee discounts.
All of the network’s front-end software, management software, billing engine, plus other available features can be found at cudominer.com.
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Source: https://www.cryptoninjas.net/2021/05/12/venture-platform-cognitive-blockchain-invests-in-cross-chain-compute-network-cudos/
