Cloud computing services generated $ 312 billion in revenue in 2020, according to Worldwide Semiannual Public Cloud Services Tracker International Data Corporation. This includes IaaS (infrastructure as a service), SaaS (software as a service), and PaaS (platform as a service).
While the industry itself is expected to grow even more in the coming years, it faces some major challenges that need to be addressed. The cloud computing infrastructure is inherently centralized in nature, extending to the Domain Name System (DNS) and user database storage. Dependence on one or more cloud providers for service availability also leads to the SPOF or single point of failure issue.
ETHERNESS OF THE CLOUD intends to eliminate middlemen and create a decentralized confidential computing platform that uses a distributed ledger.
What is Ethernity CLOUD?
Ethernity CLOUD uses blockchain technology to create a decentralized platform that will allow cloud software to run like dApps. Ethernity CLOUD provides users with access to infrastructure to help them run cloud software in a decentralized manner. They also get the opportunity to make a profit by renting out additional equipment.
Ethernity CLOUD software is built on open source services and aims to make decentralized cloud computing transparent, secure, and easy to use. The SDK option on the platform also allows users to run their own decentralized solutions.
Ethernity CLOUD architecture
The Ethernity CLOUD platform has 4 main goals that form the basis of its architecture:
- Decentralized Domain Name System: Service buyers benefit from decentralized public services or blockchains, and Ethernity CLOUD also supports developers in implementing these technologies in these decentralized applications.
- Ensuring privacy: the platform uses strong encryption algorithms that are open and all communication takes place through an anonymous network to preserve the identity of the buyer.
- Performance measurement: Service users are given the opportunity to provide feedback by evaluating service providers. This ensures a more competitive environment in which quality services are provided.
- Availability: User services are available at any time because the design allows multiple instances of the same node to run and synchronize continuously.
Circular Economics and Tokenomics
Circular economy refers to a comprehensive approach to economic development that is systematically designed to provide benefits to both the environment and society and businesses.
Ethernity CLOUD believes in this approach as it allows people to monetize their free computing power. Users can act as a buyer (cloud user) or service provider (miner) and rent out their cloud apps along with their content, renting out their spare hardware to other buyers.
The platform’s own token is ETNY, which complies with the ERC-20 standard and has a maximum supply of 1,000,000,000 tokens. 34% of tokens are reserved for the company, 15% for betting and public sale, respectively, and another 12% are reserved for seed capital. A 10% share is reserved for founders, 5% for pre-sale and 4% for private sale.
Confidential Computing Consortium
The CCC, or Confidential Computing Consortium, works to engage hardware vendors, cloud service providers, and software developers to accelerate the adoption of Trusted Execution Environment technologies and standards.
Ethernity CLOUD has also become a member of the Confidential Computing Consortium, which will enable investments across all value chains.
The members of the Confidential Computing Consortium want to bring to life the vision that was born with the advent of Confidential Computing, and Ethernity CLOUD is in line with that goal.
The Ethernity CLOUD name now stands alongside tech giants such as Accenture, ANT Group, Facebook, Google, Huawei, Intel, Microsoft, Cisco or ByteDance.
Community support and successful presale
Ethernity CLOUD had a successful pre-sale with over 90% of tokens sold within the first 9 hours and the remaining 10% sold within the first half of the next day, although the minimum investment was $ 5,000.
Following a successful presale, Ethernity CLOUD’s subsequent partnership with the Internet Security Institute and Bank of Memories helped the project gain even greater recognition.
Registration for public sale on the website has already begun. Users can now sign up and show interest in joining the Ethernity CLOUD community by providing their email address, name, and the amount they are willing to deposit in USD. – Registration page
Providing a decentralized approach to cloud computing and enabling a smooth and easy transition from centralized to decentralized infrastructure is the main goal of Ethernity CLOUD.
The success of the presales emphasizes the community’s support for the project, which subsequently helped it grow and develop. The team is committed to building a fair ecosystem that leverages DLT (Distributed Ledger Technology), making Ethernity CLOUD a pioneer in decentralized privacy computing.
For more information, check out their Official website…
Disclaimer: This is a paid post and should not be construed as news / advice.