Crypto mining can be an expensive operation, requiring miners to invest heavily in computing systems and their upkeep. With Cudos’ cloud computing, miners will be able to drastically cut down on their costs by renting out mining power through the cloud. This includes budget miners that are already tight on resources but would like to get down to mining their preferred token or coin.
Using the MELDapp, cloud-based miners using the Cudos network will be able to pay for their rented computing power using not only cryptocurrencies but be able to set budgets for their operations. This is a highly flexible feature as users of the two systems will be able to make specifications of the mining parameters according to their requirements and even compute the most optimum time to do their mining.
The partnership also means that MELD assets will be accessible in the Cudos ecosystem. This includes the banking, DeFi, and other services of MELD, along with users of Cudos being able to use the different assets such as the multiple tokens and NFTs within the MELD environment, opening up a whole new era of interoperable value transfer.
This will be a game-changer for Tingo mobile users since they will have immediate access to not only cloud mining in a budget-friendly manner, but will be able to access different cryptos, including what they mine and MELD protocol tokens like $MELD, wrapped ones like $mBTC, $mETH and even stablecoins such as $mUSD, $mEUR, and $mYEN.
With different tools and services derived from cryptos and DeFi, but with the unprivileged in mind, MELD creates an ecosystem that allows anyone to invest, earn profits, lend and borrow just like one would through a traditional bank or financial institution.
Interoperable on different chains, layer 1 and 2 with on and off-chain solutions, Cudos delivers a cost-effective, highly scalable, and extremely low latency networking that is the golden egg of the future of cloud computing.
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Source: Cryptocurrency - investing.com
