BonusCloud Launches as The AWS of Decentralized Cloud Computing
BonusCloud – The AWS of Decentralized Cloud Computing
It may come as a surprise, but former General manager of Meituan Open Services (MOS), Shuang Li, turned down an a lucrative package from wealthy individuals and decided to start his own venture, known as BonusCloud. The vision of BonusCloud is to emulate AWS, though their services deal in decentralized cloud computing. Shuang Li is an established cloud computing expert, having worked in the sector for over ten years. Before launching BonusCloud, he served as the director of networking at Alibaba, as well as the chairman of system tech at Baidu.
By integrating blockchain technology, BonusCloud intends to provide a lasting solution to the challenges facing traditional cloud computing solutions, including the absence of an industry standard, non-transparency and exorbitant transaction processing costs. Shuang is confident that the immutability of distributed ledgers will solve the problems experienced in the currently existing systems. In this regard, BonusCloud will leverages both virtual technology and blockchain with an aim of enhancing the utility of distributed ledger technology in virtual machines. As a result, BonusCloud will seamlessly execute smart contracts, storage, computing, and network applications.
In the long run, BonusCloud intends to create a global computing power trading platform that pools worldwide computing resources such as cloud computing solutions, personal computers, institutional computing center, and so on. Consequently, the platform will have enormous processing processing power which will be available to individual and corporate clients at affordable costs. This will significantly overcome the issues in the traditional cloud computing solutions.
Reportedly, BonusCloud will deploy a hybrid consensus algorithm that features both the delegated Proof-of-Stake (DPoS) and Practical Byzantine Fault Tolerance (PBFT) protocols. In this system, workers appoint bookkeepers on a regular basis as per the value of their contribution. All participants in the ecosystem will get rewards based on weight of resources and various assignments. Rewards will be in the form of tokens generated by users on the network. Moreover, DApp developers will be rewarded by the Developer Impel Protocol which chooses DApp on regular intervals on the newly created blocks. Also, the liquidity of the token will be controlled and maintained by the service procurement and well-defined reward mechanism.
Judging by the backing the BonusCloud project has received already, it is apparent that the platform will achieve its goal of becoming the AWS of decentralized cloud computing. So far, the startup has received support from leading IT firms, including Cisco, Alibaba, Baidu, and Meituan. Additionally, the company has also attracted prominent financiers, having received substantial amounts from two prominent digital currency trading platforms.