While Bitcoin was trading at $31.834, a crypto analyst discussed an altcoin project that he thought would rise. In his latest image, prominent cryptocurrency analyst Ben Armstrong describes a promising new project that plans to “make the decentralized web possible for the first time. Here is the Cudos (CUDOS) that Armstrong thinks will increase 200 times…
Armstrong: This altcoin will outperform its competitors
CUDOS is a decentralized information process network that will provide multiple Blockchain ecosystems with many advantages. Cudos is also a robust layer 2 validator network built on the Tendermint protocol. EVM and Wasm compatibility are also available for deploying smart contracts in CUDOS using Solidity or next-generation languages. Armstrong uses the following terms:
Basically, anyone joining the network will be able to take advantage of the computing power of other users around the world when that power is not being used. Users who willingly provide their computing power on the network will be paid for their services, thus having an incentive to stay connected.
Armstrong: Cudos will perform much better than its competitors
In addition, the trader emphasizes that Cudos is expected to outperform companies such as AWS. He also underlines that Cudos will be more efficient than its central competitors and will save users money. Drawing attention to the whitepaper of the project, the analyst uses the following words:
The Cudos whitepaper claims that consumers will save, on average, over 75 percent after switching to the network. First users of the platform are expected to save up to 70 percent in CPU rendering, 75 percent in university research, 85 percent in GPU rendering, and up to 95 percent in simulations.
CUDOS price estimation from the analyst
When comparing Cudos to its competitor ICP, the trader states that Cudos performs more smoothly. Today, he underlines that if Cudos reaches the market cap of ICP, the price will rise from around 2 cents to just over $4, which means it’s about 200 times the initial investment. Cryptocoin. com
According to information, Cudos is changing hands at $0.23 with an increase of almost 40 percent at the time of writing.