One Major Ku-DOS: Kucoin has finally listed CUDOS

The information contained herein, mainly regarding cryptocurrencies and the state of digital networks does not intend to be a source of advice or credit analysis with respect to the material presented. Ergo, the information and/or documents contained in this website do not constitute investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting the company with an expertise in crypto. The author suggests to consider and evaluate each of the risk factors and all other information contained herein. It is worth noting, however, that trading and investing in cryptocurrencies solely rely on how well a customer perceives the digital asset based on its market industry.

As the development of Web advances, the deposits of the New World become more crucial for each consumer, regardless of generation and social capacity. Developers are continually seeking a collective solution from the very minimal issue to the gigantic technological failure to reach the maximum possible capacity of the Internet. However, the dilemma of limited storage persists even with the complete breadth of web programming. In order to achieve the excellent computer depot, there is a demand for an enormous physical space, money and effort in providing the necessary storage. In fact, it is not favorable for everyone to respond to such needs. Who would disagree that it takes a cloud computing network to better utilize global computing power.

What is Cudos?

Cudos is a multi-channel, smart contract Layer 2 solution that aims to address current scalability issues. It acts as a bridge between blockchain and external services while incentivizing blockchain to use external data, APIs and additional computing power.

Image from Telegram

In which, these external services are not hampered or constrained by the unchanging nature of the blockchain. This network connects the blockchains with secure external platforms and sources in a decentralized manner, offering a Turing complete solution of running code in several languages such as Python, C++, Go et.al

Image from Twitter

The key role of this network is very important in a blockchain community, making it possible for their services to be widely adopted. In the long run, this will promote innovation throughout the blockchain space, as project developers will build more efficient blockchains that rely on two-layer calculations for innovative use cases. This process has already begun as Cudos has partnered with many companies in the technological space namely: Verne Global, AMD, Outlier Ventures, PlayStation Partners, NexGen Cloud and others.

Moreover, this distributed platform provides economic calculations. It is present in around 150 countries with 20,000 nodes worldwideThis helps rationalize challenging services across the platform and reduces the cost of any action performed by users on the blockchain. The objective of CUDOS is to make better use of global computing power.

What are the key functions of Cudos network?

According to Cudos, every 2, 000, 000 of their token is equivalent to CUDOS Validator Node (CVN), one of the main pillars of the Cudos network. The CVN provides three main components: the target identifier, an app hash identifier and inputs needed for that workload.

To explain further, Cudos uses a data element known as a target identifier that helps nodes decide when they should perform a job. This data can be a combination of hatchings or a unique identifier. The application hash identifies the code that Cudos nodes should execute. This may be a legacy application or an external storage address. A node executes the job by setting up the WebAssembly executor.

Whereas Cudos users can use their tokens in staking to receive a fee reduction or share its revenues. Aside from this, it can also be an element of qualifying jobs while earning greater proceeds. On top of that, any leftover tokens from the treasury will be burnt which will introduce more benefits for the Cudos economy.

What are the edges of CUDOS?

The main reason why Cudos was created is to provide a cloud computing system for any chain to run it without the basic limitations of Ethereum, Bitcoin, or any other principal chains. It helps the under-utilized people all around the world to be connected and make the resources accessible to anyone with the use of decentralized networks. Cudos made it possible for the clients to produce cloud computing resources securely at a much lower price compared to centralized alternatives.

Consumers should take note of this first before investing on platforms such as Cudos; if it’s applicable, then choose an extraordinary ERC-20 Token. Ethereum has issues with scalability and transaction speeds, while CUDOS is not just a normal token that accomplishes the problem with storage and ERC token. CUDOS will not only be exclusive to the Ethereum Blockchain and will be available on Algorand Blockchain as an Algorand Standard Asset (ASA). With this, there are so many things that the customers should look up to on Cudos.

There are many exchanges that claim the title of “best” exchange. While this may all seem simple enough, however, in choosing the best crypto exchange to invest in, a customer has to pay attention to a myriad of considerations like fees, reputation, security, verification processes, and geographical restrictions an exchange platform has to offer.

To better understand most of the exchanges, as well as some of them that are working actively towards this goal, first, we need to understand some several factors that these crypto exchanges are currently working on:

  • Security: Safety should always come first. A good exchange will place great emphasis on the security of their users’ accounts, personal information, and the system in general. The majority of the assets should be stored offline in a cold storage system. Also be on the lookout for additional security features such as Two-factor authentication, withdrawal confirmations, etc.
  • Reputation: A well established, long-standing exchange is a much safer option.
  • 24/7 Support: The support should be responsive, friendly, professional, and ideally reachable through several different channels. A call center is a big plus as it’s comforting to know you have the option to speak to someone in person.
  • Payment methods: Take into consideration which payment methods are available — do they support credit card purchases, p2p fiat trades, and other methods of payment.
  • Fees: Fees can vary substantially between different exchanges. The fee schedule has to be provided on the site.
  • Interface: The site should be easy to navigate, even for crypto beginners.
  • Geographical restrictions: Some exchanges are locally restricted and their service might not be available in your area.
  • Uptime: Avoid exchanges with lots of downtime.
  • Verification: Even though some users find verification and KYC procedures a hassle, you should look at it from another perspective. They are done with the best intention to protect the exchange from money laundering and all sorts of scams.
Image from Kucoin

Taking everything into consideration, KuCoin is one of the many cryptocurrency exchanges who explored the concept of what the future of cryptocurrency trading looks like. It is also a reputable exchange that adds high-quality projects is available here.

KuCoin has a highly trained research department that looks for top-quality projects throughout the crypto industry. The exchange has over 6 million registered users across 207 countries and regions around the world with 450+ trading pairs to date. KuCoin provides a highly secure and easy-to-use platform for users to engage in cryptocurrency trades and transactions efficiently and safely.

Image from Kucoin

KuCoin also launched a series of other products in the past year designed to further help out crypto users, including futures markets, public chain, one-stop exchange solution, creating a platform for how your crypto can yield interest, as well as some upgrades to the main exchange to uphold its principle of security and transparency. KuCoin since its inception has insisted on taking the tech as its backbone to build a better trader relationship while constantly pushing for the sustainable development of the digital currency trading ecosystem as the ultimate goal.

The Best Crypto Exchange To Buy CUDOS 2021

There are several exchanges, in fact, catering to different requirements and varying in terms of safety and security, convenience, accessibility, and so on. But unlike most of them, KuCoin is unique in its approach. From their timely upgrades, reports, and recently introduced products & features like KuChain, Margin, KuCoin Futures, Soft Staking, and Pool-X is what I think helps them build a better ecosystem for traders. Significantly, the structure of Kucoin is utterly fascinating, which shows they are more interested in long term growth. I’d say with their competitive services and reputable brand, KuCoin is already one of the leading cryptocurrency exchanges today.

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Writer | Cultural Activist | Violinist

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