CUDOS update: CUDOS Live price, price chart, news and markets

The CUDOS price update as of now is $0.01281. In the previous 24 hours, its trading volume was $470,445, and its value has increased by 0.00%. As of now, CUDOS's live market cap is $94,438,763, and it is ranked as the #1515 on the Coincu. CUDOS has a circulating supply of 9,317,568,774 and a maximum supply of 9,317,568,774.

Introducing CUDOS Network: Revolutionizing Distributed Computing

CUDOS Network is a groundbreaking layer 1 network powered by the Tendermint protocol, specifically Cosmos. With its seamless integration of smart contracts and blockchain bridges, CUDOS Network delivers powerful distributed computing capabilities. By connecting blockchain developers and services to a global pool of computing power, CUDOS Network enables highly cost-effective computations and unlocks access to a vast network for various applications like Metaverse, Dynamic NFT, AI, Machine Learning, DeFi, and more.

The Significance of CUDOS Network in Blockchain

Leveraging layer 2 networks has become essential for different blockchains due to various reasons. For instance, Ethereum encounters high gas costs when executing complex workloads or storing data. Similarly, Algorand, one of the leading blockchains, lacks computing power as it is not Turing complete. CUDOS is actively collaborating with the Algorand team to introduce the DeFi feed and Layer 2 compute network, transforming it into a comprehensive compute network.

Beyond that, blockchains face challenges in efficiently fetching and utilizing external data, which is crucial for many applications, including DeFi. CUDOS plays a vital role in the advancement and widespread adoption of blockchain technology by serving as a necessary solution.

CUDOS acts as a multi-chain layer 2 workaround, addressing current scalability issues by providing Turing-complete computing and external data. The network comprises smart contracts functioning as oracles, connecting blockchains to secure external sources in a decentralized manner. By enabling smart contracts to require off-chain computation, CUDOS allows code execution in various languages such as Python, Go, or C++.

Unlocking Possibilities with the CUDOS Compute Oracle

The CUDOS Compute Oracle serves as a remarkable bridge between blockchains and the outside world. It facilitates the utilization of external data, APIs, and additional compute power that is not confined by the constraints of the blockchain. This bridge holds immense importance in achieving mass adoption of blockchain technology, as most blockchains currently operate in isolation from external interactions.

Understanding the Inner Workings of CUDOS

Within a layer 1 network, smart contracts can invoke the CUDOS smart contract deployed within the same network to request off-chain computation or access external data. CUDOS validator nodes, which are required to stake 2,000,000 CUDOS to be eligible, perform the off-chain computation. These nodes continuously monitor events in the CUDOS smart contract to identify new compute job requests. Each request consists of three key components:

• A targets identifier
• An app hash identifier
• Any inputs required for the workload

The target identifier serves as a guide for CUDOS nodes to determine when to execute a job. It can be hashes identifying individual nodes or a unique identifier that influences the nodes' decision-making process.

The app hash plays a crucial role in determining which code the CUDOS nodes should execute. It can refer to an existing app from the CUDOS dapp marketplace or indicate an external storage address where the requester's code has been previously uploaded. Additionally, the request may contain a list of inputs for the code or app, which can be passed directly or stored in an external storage solution.

When a node receives an event and decides to execute the work, its WebAssembly executor is triggered. Since listening to the blockchain occurs off-chain, it is not subject to the constraints of the blockchain itself. The node retrieves the provided inputs and sends relevant API requests to the marketplace and app to carry out the compute workload.

Once each CUDOS validator node obtains the result, a consensus check may be necessary to provide a unique result to the original smart contract on the layer 1 blockchain. Once the unique result or the address storing the result is determined and sent to the CUDOS smart contract, the original smart contract can retrieve it.