Lumos Labs, leading experts in running blockchain based open innovation programs in India with the support of CUDOS network, a next-generation decentralized cloud platform today announced the launch of CUDOS Hack-a-nauts aimed at empowering and optimizing the blockchain developer pool of India by offering a sustainable and decentralized computing platform.
The three months-long hackathon will be focused on providing a robust computing infrastructure to innovative decentralized solutions by allowing them to build on the Cudos network. CUDOS is a layer two computation and oracle network that is focused on bridging the gap between blockchain and cloud computing. Its mission is to connect various blockchain developers and the decentralized sector to the global computing space in an environmentally sustainable, efficient, and cost-effective manner.
It is evident that cutting edge technologies such as blockchain and cloud computing are revolutionizing the world today. With the digital space expanding rapidly, the sustainability of these technologies for continued long-term growth is a priority. Currently, the cloud computing infrastructure is thriving immensely and the International Data Corporation (IDC) has estimated the global spending on cloud services to surpass $1 trillion by 2024. India alone is expected to surpass $4 billion in spending for cloud services by the end of this year.
But as the space is expanding, there are a few inefficiencies that need to be smoothed out to ensure its optimized development. The traditional cloud computing technology sector is riddled with security risks, opaque administrative processes, expensive cloud services, centralized corporations, large-scale energy consumption and more. The Cudos network, in turn, presents an environment -friendly, decentralized, cost-effective, accessible, and robust cloud computing one-stop solution that will allow its users to circumvent the inefficiencies of the traditional cloud structure.
The three-month-long hackathon will be open to both, new and experienced innovators determined to enhance the blockchain sector with their visionary solutions for multiple pre-defined tracks including NFTs, environment, and efficiency. Furthermore, it will be interspersed with numerous meetups, workshops, mentorship sessions to ensure holistic development of the developers and their startups. The participants of the hackathon will get an opportunity to receive up to $50,000 in CUDOS along with adequate ecosystem support throughout the competition.
‘The cloud computing sector has benefitted the world immensely by ensuring the growth and sustainability of various industries and by performing large-scale operations. With the industry developing rapidly, it is essential that we ensure the sustainable growth of the technology. At Cudos network, we are working towards combining two emerging technologies that have revolutionized the world as we see it today, blockchain and cloud computing. Through this hackathon too, we are hoping to provide the ingenious developer ecosystem of India with the right sustainable and decentralized tools to keep enhancing their visions and innovation. We are quite excited for this hackathon and the impactful innovations that will unfold during the course of it.’ Matt Hawkins, CEO and Founder, CUDOS
“The latest emerging technologies have been driving unprecedented global technological growth which was further accelerated by the pandemic. Technologies like blockchain and cloud computing lead the way to include more innovators and visionaries in the sector. Through the <CUDOS India Hackathon>, we are aiming for the holistic development of these innovators and visionaries while providing them with a platform to support their computing needs in a decentralized and cost-efficient manner. We are hoping to witness ideas and startups that have the potential of scaling globally and aim to support them in their journey with the right tools and right guidance.” Kaavya Prasad, Co-founder, Lumos Labs
