According to the Space Foundation, the global space economy rose to $447 billion in 2020 and the space industry aims to consolidate on the growth. With the growing space economy, many blockchain projects are seeking to further revolutionize the industry. There are new space establishments currently looking into satellite collections that can offer valuable data for almost every single industry on the earth’s surface.
Cudos and Sfera Technologies recently entered into a partnership with the aim of seeking ways to improve the accessibility to space data. While Sfera Technologies develop new ways to improve access to space data, Cudos is a Layer-1 blockchain that ensures decentralized and permissionless access to high-performance computing.
How the Partnership Intends to Revolutionize the Space Industry
The computational needs of the existing tech-driven world put enormous ecological pressure on the earth, and the ineffective use of the existing computational resources aggravates the problem. That is why there’s a need for a change.
The partnership between Cudos and Sfera Technologies will most likely lead to enormous changes in the space industry. By joining ‘forces’ together, both Cudos and Sfera Technologies will simplify difficulties and meaningfully reduce costs in the space industry. Sfera Technologies will have the needed computing power to crunch raw Earth Observation (EO) data from satellites into viable imagery products. The association will allow rigid legacy services like the satellite ground segment to dive directly into Web3 territory.
On the other hand, the partnership with Sfera Technologies will bring Earth Observation (EO) computation to Cudos’ developing metaverse. This alliance will be impactful such that everyone will become partakers of the metaverse, hence, creating blockchain-based data between earth and space.
Overview of Cudos Network
Cudos is an oracle and computer ecosystem built on a highly scalable and decentralized architecture. The set-up is provided by multiple nodes distributed across the globe, and it stands as the backbone of a blockchain-based low latency ecosystem. Cudos allows holders to put spare storage capacities and compute on an open and non-permission network. It is an open, compatible platform Launchpad that will supply the structure needed to arrive at the one thousand times higher computing needs to build captivating, gamified digital actuality.
Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network built to provide decentralized, permissionless entry to speedy computing at scale. Its native utility token is CUDOS, and it is also the driving force of the network, and it suggests a wholesome yearly return and liquid both for stakers and users.
Things You Should Know About Sfera Technologies
Sfera Technologies is a Newspace company. Although functioning with the conviction that the space industry is still in its nascent stage, Sfera Technologies is taking a unique tactic to issues relating to space, thereby concentrating on setting up and employing adequate, consistent and slowly budding infrastructure. Sfera is a portfolio company of Blackstone, an asset investment company based in the US that focuses on innovation, private equity, technology and lots more.
Over time, Blackstone industries make waves via strong alliances, a personalized approach, and a commitment to outstanding performance with integrity that can never be compromised. Sfera technologies' vision is rare as it includes a formerly removed network from the Web3 conversation.
Cudos is empowering cyberspace by integrating NFTs, DeFi and gaming experiences to actualize the vision of a decentralized Web 3.0, ensuring that all holders gain from the development of the metaverse. The alliance with Sfera technologies will allow EO computation to Cudos’ rising ecosystem.
The syndicate intends to operate its satellite ground station network on Ephemeris, solely designed to provide smart contracts and oracles. However, they are intended to replace the current paperwork used to provide ground segment services.