Cudos, a decentralized computing network blockchain, and Sfera Technologies are partnering as per a press release on January 13.
Cudos and Sfera Technologies Partnership
Details indicate that Cudos will supply computing capabilities to Sfera’s decentralized space infrastructure, Ephemeris. The objective of this partnership is to lower costs and reduce complexities.
Ephemeris is Sfera’s core product and exists as a multichain protocol designed to expressly provide reliable integrated satellite data delivery and process management systems leveraging the reliability and security of the blockchain.
Supplying Ephemeris with Computing Power
Ground station networks can access various critical services, including storage, computation, and efficient data distribution from Ephemeris.
Notably, this integration makes Ephemeris whole. It will rely on the decentralization of the Cudos computing network to compute and process data beamed from raw earth observation (EO) satellites, converting them to imagery products quickly and more securely.
Raw earth observation satellites are mostly used for monitory purposes helping track and manage resources, respond to humanitarian crises, and overly allow sustainable development.
With Cudos in the picture and Ephemeris armed with computing, it is also possible for the otherwise rigid legacy services like satellite ground segments to integrate distributed ledger technologies.
According to the CEO of Sfera Technologies, Zdravko Dimitrov, fusing with Cudos provides the missing puzzle:
“By integrating with CUDOS, Ephemeris obtains another piece of the puzzle — computing power to crunch raw Earth Observation (EO) data from satellites into commercial imagery products. Rigid legacy services like the satellite ground segment can now leap straight into Web3 territory, and it’s inspiring to be at the helm of this transformation together with Cudos. Considering our shared vision on decentralized data ecosystems, we’re eagerly looking forward to the great space industry solutions that will come out of our partnership.”
The Global Space Industry Could Hit $1 Trillion by 2040
Statistics show that the global turnover space economy increased $19 billion in 2020, rising to $449 billion. This impressive growth further presented a 55 percent expansion from the state of affairs in the early 2010s.
Continuing the past decade’s trend, the global space industry will likely post even more growth going forward, reading from the level of investment and improving operational efficiencies. According to Morgan Stanley, the global space industry could generate at least $1 trillion in revenue by 2040. However, in the short-and-medium term, the global bank states that opportunities could arise from satellite broadband Internet access.
A Decentralized Solution to Reduce Risks
Therefore, as the number of EO satellites increases, the demand for its emitted data rises in tandem. In turn, this demands the provision of scalable and distributed storage and computing infrastructure capable of delivering solutions with low latency. At the same time, with the rise of privacy preservation needs, opting for a decentralized solution with built-in protection features is suitable.
Turning to a centralized cloud instead of relying on individual infrastructure may have been the easier way out. However, the growing risks of amassing critical data in a single provider’s storage systems introduce risks, especially around control of data delivery pipes which may be throttled or even blocked. Cudos will supply decentralized computing power from a high-performance base layer, enabling large-scale data processing.
The announcement is ahead of Cudos’ scheduled launch of its mainnet in February. Sfera Technologies joins the fast-growing Cudos ecosystem, including MELD—a high-profile project set for launch in Cardano–, and Tingo Holdings International, that’s tackling poverty in Africa.
About Cudos
Cudos is powering the metaverse bringing together DeFi, NFTs and gaming experiences to realise the vision of a decentralized Web 3.0, 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 for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralized, 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.
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