The launch of our mainnet marks our entry into an exciting new era of the cross-chain ecosystem to power the DeFi, NFTs and metaverses.
While it is significant for our network, the mainnet launch is a landmark in the blockchain space as we bring in scalability, lower transaction costs and, ultimately, convergence with a decentralised cloud computing layer.
Why does our mainnet matter?
The network is built using Tendermint Core and supported by the Cosmos SDK, which means it's cross-chain at its core. This architecture strengthens the Cudos blockchain to address two major concerns in the advancement of Web3 - interoperability and composability.
Related: Web3’s scalability problem
The platform is developer-friendly, scalable and provides limitless opportunities to build Web3 dApps. With our mainnet, we’re excited for the next chapter, where developers explore the platform to build dApps and partners align with our decentralised vision as we open up on-chain computing functionality.
Cheaper, faster transactions
The purpose of our blockchain network is to clock in high transaction speeds at a relatively low cost compared to other Layer 1 networks without compromising on decentralisation. Consequently, our network runs on the more efficient Proof of Stake (PoS) consensus mechanism.
The Cudos blockchain network has empty blocks, making it one of the blockchains with the cheapest transaction fees, as filling blocks would naturally inflate the price. With this setup, Cudos can process thousands of transactions per second.
The cheaper transactions on our network, along with the Cosmos network accessibility, are incentives for projects on other networks to migrate to us.
Enhanced token utility
The CUDOS token can be used for gas fees on our network. Additionally, it will offer optimised and cheaper sub-cent transactions, which opens the network for eCommerce, micro transactions and low-cost NFT minting or selling.
Altogether, our native token can now be used for staking, earning, governance, and online purchases, to name a few of the key uses.
Mint cheaper NFTs on Cudos
NFT creators and developers would agree that minting NFTs on the Ethereum blockchain is by no means cheap. Cudos addresses this problem by being the first network to support NFTs natively on the Cosmos chain. Furthermore, as users don't have to set up a new smart contract for each new NFT, it becomes cheaper to mint, approve, transfer and burn NFTs directly on their accounts.
Part of our 2022 roadmap is offering native NFT account-based support as we look to establish Cudos as the leading chain for NFTs in the Cosmos ecosystem. We also aim to extend and deepen our offering with native NFT collections later in the year.
Build on our network
We are positioned to ride the mass adoption wave with our fully-functional blockchain and interoperable network. Join our vision to create a decentralised distributed computing solution to reduce wasted computing.
Come build on the Cudos network!
How can you join us?
- Join the Cudos’ Discord server
- Join the Cudos’ Telegram community
- Buy CUDOS tokens
- Become a Cudos ambassador.
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 to create 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.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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