Cryptocurrency

Cardano-based MELD and Cudos Partner enhancing Crypto Cloud Mining Experience

MELD and Cudos are joining hands as per a press release on January 15.

The two teams will collaborate, supporting each other’s protocols to deliver more wholesome financial services to its clients. Towards this end, MELD is building MELDapp and integrating it in Cudos’ crypto-mining infrastructure. Users would benefit from an easy-to-use interface accessible from mobile and desktop wallets. 

This partnership aligns with the overarching objectives of both projects. Also, it augurs well with the principles of blockchain development which calls for collaboration benefiting end-users. Overall, Cudos and MELD strive for a novel financial development to build a better financial future. 

Partnering For better Cryptocurrency Cloud Mining Experience

With this integration, it will be relatively easier, cheap, and efficient to mine cryptocurrencies from the cloud. At the same time, the partnership directly boosts MELD’s visibility. 

Crypto miners will efficiently allocate a crypto budget to pay expenses incurred when deploying their cloud mining operations on Cudos. Allocating a budget to cover expenses will also be effortless. From the MELDapp, users can specify required parameters such as the budget they wish to spend.

Besides their deal with Cudos, MELD will also work closely with Tingo. Here, the objective will be to seamlessly integrate Cudos cloud mining capabilities and activate access to MELD financial services in the Tingo mobile device development, allowing the latter’s customers to access various services quickly and more efficiently. 

What MELD and CUDOS Are Required to Do

The details of the partnership will gradually take shape in the upcoming months. In the early stages, effectively kick-starting their collaborative efforts, Cudos will provide an API enabling MELD to connect. For efficient linkup, the decentralized cloud computing network will also supply technical documentation for MELD developers to familiarize themselves with its infrastructure, offering a glimpse of its internal layouts. Eventually, once MELD connects to Cudos, its protocol tokens like MELD, mUSD, mEUR, mYEN, mBTC, and mETH will be supported.

Meanwhile, MELD will be required to provide a functional interface into the Cudos network API from the MELDapp wallets. Through this interface, MELDapp wallet users will easily access Cudos’ cloud mining services while exposing their assets and payment functionality to the Cudos ecosystem enabling the quick purchase of cloud mining resources.

Bringing Together Two Ambitious Protocols

MELD is deploying from the Proof-of-Stake energy-efficient Cardano building what its creators say is a banking stack for DeFi. In the long haul, MELD aims to connect over two billion people across the globe with the capability to access financial services by leveraging cryptocurrencies. 

The Cardano-based protocol offers several services like enabling access to crypto-backed loans or even facilitating businesses to have a reliable line of credit trustlessly in a smart contracts-governed environment. In a decentralized platform relying on automation and mathematics, users are given more financial control to determine what they can do with their resources without third parties. It will overly see the unlocking of the over $15 trillion of value tucked away by unbanked and under-banked individuals worldwide. 

The Cudos decentralized computing platform is powered by nodes spread out in more than 145 countries. From its network, Cudos is powering the metaverse, a scene that’s expected to be worth over $818 billion by 2028. Notably, the metaverse brings together interesting elements of crypto, DeFi, NFTs, and gaming for the world to realize the benefits of the blockchain quickly. 

Angela Scott-Briggs

Editor, TechBullion.com | Interested in Innovations in Business, Finance, and Technology .

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Angela Scott-Briggs

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