NuNet Awarded with Second Largest Grant in Cardano's Catalyst Fund 7 Round Voting

AMSTERDAM, Feb. 21, 2022 /PRNewswire/ - NuNet's proposal to create decentralized computing for Cardano staking pool operators is awarded $120,000 through community voting on Cardano's Catalyst 7 fund round with over 198 million worth of ADA votes. With the approval, NuNet was awarded the second highest grant in USD value in Cardano's Catalyst history.

NuNet will utilize the fund to develop a use-case integration of its decentralized computing framework that will let Cardano stake pool operators leverage community-provisioned hardware to run their block-producing nodes. As of now, Cardano's stake pool operators rely heavily on servers controlled by big tech giants, and NuNet's economy of decentralized computing will allow it to decrease that dependency.

Dr. Kabir Veitas, NuNet CEO: "Leveraging NuNet for accessing decentralized hardware for running Cardano nodes and stake pools is an excellent match for communities and ecosystems working towards radical decentralization. NuNet allows to decentralize applications on a hardware level utilizing worlds latent compute resources owned by different community members and connecting many diverse devices into a single framework. Concretely, the Decentralized SPO computing will greatly increase the resilience and true decentralization of the Cardano network on the fundamental level and ensure that the network is decentralized from ground (hardware) up."

The development process has already kickstarted — the team is researching and testing various solutions for covering protocols features of the platform that will enable it. The first step towards operating the block-producing node is already functional— running passive Cardano relay nodes on NuNet's Private Alpha. In the meantime, the NuNet team  conducted test runs of P2P communication using symmetric NAT connection and also found positive results developing secure shell access for stake pool operators. With the help of Catalyst grant, the Cardano community and technical partnerships with selected SPOs, the NuNet team will proceed with the development of the production usage of these features geared towards Cardano stake pool operators. NuNet made its Jira development board publicly available for everyone to keep the process and progress transparent. The team will also be releasing regular updates on decentralized SPO's progress and overall platform development.

When the platform features are ready, NuNet will invite other Cardano SPOs to run trials on the NuNet testnet followed by the full release of Decentralized Computing on the mainnet later in the year.

About NuNet:

NuNet is a computing framework that provides globally distributed and optimized computing power and storage for decentralized networks, by connecting data owners and computing resources with computational processes in demand of these resources.

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SOURCE NuNet