Decentralized crypto and traditional banking service provider MELD has partnered with blockchain-based cloud computing Cudos network to offer a holistic financial service to users. The two platforms have teamed up to use their expertise to support the others’ functions.
Financial Inclusion for All
For many, banking and crypto operations may not seem that much connected, but the Cudos and MELD partnership goes to show that both sectors can take advantage of each other's services. One fine example of this is how both platforms are going to assist miners in reducing their costs and increasing profitability along with ease of use.
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.
It Takes Three to Tingo
Tingo is a mobile operator in the country of Nigeria. MELD brings in a special service for telecom users by integrating the Cudos partnership. Cudos will be primarily responsible for delivering a working API that will give Tingo users access to the MELDapp ecosystem.
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.
The MELD platform is all about giving financial power back into the hands of the people and giving them equal access to banking services but without the high barriers faced currently. With more than 2 billion people worldwide that are either underbanked or completely unbanked due to several reasons, there is a $15 trillion untapped market.
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.
A holistic system that encompasses DeFi, metaverse, and web3.0, Cudos allows for massive speed and security without compromising on scalability with its cloud computing approach. Enabled in over 145 countries, the combined computing power of the network offers the number-crunching resources that the future of decentralized networks will need.
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.