In 2020, cloud computing services had sales of $ 312 billion, according to International Data Corporations’ Worldwide Semiannual Public Cloud Services Tracker. This included the services IaaS (Infrastructure as a Service), SaaS (Software as a Service) and PaaS (Platform as a Service).
While the industry itself is expected to continue to grow in the years to come, it faces some important issues that need to be addressed. The cloud computing infrastructure is inherently centralized in nature, extending to the Domain Name System (DNS) and the storage of user databases. The dependency on one or more cloud providers for service availability also leads to the problem of SPOF or single point of failure.
Ethernity CLOUD intends to eliminate the middleman and create a decentralized confidential computing platform that uses distributed ledgers.
What is Ethernity CLOUD?
Ethernity CLOUD uses blockchain technology to create a decentralized platform that enables cloud software to run as dApps. Ethernity CLOUD offers users access to an infrastructure that helps them operate cloud software in a decentralized manner. They also have the option to make a profit by leasing their additional hardware.
The Ethernity CLOUD software is based on open source services and strives to make decentralized cloud computing transparent, secure and user-friendly. The SDK option on the platform also allows users to launch their own decentralized solutions.
The Ethernity CLOUD architecture
The Ethernity CLOUD platform has 4 basic goals that are at the core of its architecture:
- A decentralized domain name system: Service buyers benefit from decentralized public services or blockchains and Ethernity CLOUD also supports developers in implementing these technologies on these dApps.
- Respect for privacy: the platform uses strong encryption algorithms that are open and all communication is via an anonymous network to protect the identity of the buyer.
- Performance measurement: Service users are given the opportunity to provide feedback by rating the service provider. This ensures that a more competitive environment is created in which to provide high quality services.
- Availability: A user’s services are always available as the design allows multiple instances of the same node to run and synchronize continuously.
Circular Economy and Tokenomics
A circular economy refers to a well-rounded approach to economic development that has been systematically developed to benefit the environment, society and business alike.
Ethernity CLOUD believes in this approach because it enables people to monetize their free computing power. Users can act as buyers (cloud users) or service providers (miners) and rent their cloud applications along with their content by renting out their replacement hardware to other buyers.
The platform’s native token is ETNY, which is ERC-20 compliant and has a maximum number of 1,000,000,000 tokens. 34% of the tokens are reserved for the company, 15% for staking or public sale, while a further 12% are reserved for the seed. A share of 10% is held for the founders, a share of 5% for advance sales and 4% for private sales.
The confidential computer consortium
CCC, or the Confidential Computing Consortium, works to get hardware vendors, cloud 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 value chains.
The members of the Confidential Computing Consortium want to realize the vision that was born with the advent of the term “confidential computing”, and Ethernity CLOUD is guided by this goal.
The name Ethernity CLOUD now stands alongside technology giants such as Accenture, ANT Group, Facebook, Google, Huawei, Intel, Microsoft, Cisco and ByteDance.
Community support and a successful pre-sale
Ethernity CLOUD had a successful presale with more than 90% of the tokens being sold in the first 9 hours themselves, while the remaining 10% were sold within the first half of the next day, despite the minimum investment amount being $ 5000.
After a successful pre-sale, the subsequent partnership between Ethernity CLOUD and the Institute for Internet Security and the Bank of Memories has given the project even more recognition.
Registration for public sale on the site is now live. Users can now register and express their interest in joining the Ethernity CLOUD community by providing their email address, name and the amount they are willing to pay in USD. – Registration page
The main goal of Ethernity CLOUD is to develop a decentralized approach to cloud computing and to make the transition from a central to a decentralized infrastructure smooth and easy.
The success of the advance booking underscores the community’s support for the project and has subsequently helped it grow and develop. The team aims to build a fair ecosystem that uses DLT (Distributed Ledger Technology) and makes Ethernity CLOUD a pioneer in the field of decentralized confidential data processing.
For more information, see their official website.
Disclaimer: This is a paid post and should not be treated as news / advice.