Tallinn, Estonia, Aug. 05, 2022 (GLOBE NEWSWIRE) — Kompute, an Estonian-based blockchain company, has released a decentralized cloud computing model built on tokens designed specifically for Web3, providing greater anonymity and control. Designed using widely tested open-source technologies, Kompute’s decentralized network is deployed on top of Ethereum with the off-chain layer running on Kubernetes. This structure allows for high availability, easy scalability, and reliable, low-cost cloud computing services. More information is available at https://kompute.network/.
“AWS, GCP, and many other big names are the leaders in centralized cloud computing, the problem is they control the users’ data, access to computing power and privacy” said Xabier Almazor, CEO of Kompute.
Kompute is the “AWS” of Web3 economy, connecting consumers of cloud services with resource providers of the network who want to generate revenue.
- Every transaction on the network is enforced by smart contracts and recorded on the blockchain.
- Network providers are incentivized to provide resources and keep the network safe.
- There are multiple layers of confidentiality to protect intellectual property.
- Only authorized actions are allowed against the blockchain, so code and data integrity are guaranteed.
How Kompute works
The process starts when a user launches a request to deploy an application with the blockchain. The node will validate the request and initiate the execution of the computational task. Kubernetes manages the execution of the task using secured containers and considering network capacity. The node is rewarded for allowing the use of their computing resources to the network.
The user gets all the computation capacity they need. The node owner is rewarded for sharing their computation power and keeping the network secure. All of this happens in real-time and is recorded in the blockchain to ensure the security and anonymity of the transaction.
What it means for Web3
The future of the internet is much more like it was intended, with a trustless and autonomous network that allows users to access fantastic levels of computational power instantly.
Best of all for the user is that this newer model is extremely user-friendly, allowing the average consumer to access these technologies with low knowledge of code.
Kompute connects consumers of cloud services with resource providers of the network who can generate revenue by providing their computing resources and staking a specific amount of tokens. The Kompute ecosystem enforces a permissionless model that enables developers to employ their services with reduced restrictions.
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