Los Angeles, CA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Wire Network (http://wire.network), a leader in cross-chain infrastructure for decentralized applications, today announced its strategic partnership with CPUcoin, a solution that immensely reduces cloud infrastructure costs by creating a new sharing economy for unused CPU/GPU power. The partnership will open up a new digital frontier by offering enterprise-grade edge computation with lower cost and higher efficiencies than any other cloud service provider. The CPUcoin model allows billing by the minute instead of by full hours or days, bringing a 5x-100x cost reduction compared to other services in the space.

The partnership will accelerate the launch of CPUcoin’s High Definition NFT and Generative AI capabilities, along with other decentralized apps and services. The combined technology of Wire Network and CPUcoin is set to solve some of the biggest problems of decentralization in blockchain.

"To move forward and welcome the next generation of blockchain users, we need to remove the major hurdles facing our industry. Users should be able to work with one wallet instead of several. They should experience simple onboarding and be able to comfortably work with a number of decentralized apps and hosted services, all while minimizing gas fees and impact on the environment.” said Ken DiCross, CEO of Wire Network. “We are working with CPUcoin to make all of this a reality.”

The partnership’s combined network will significantly lower overall costs and serve as the backbone for a new generation of decentralized SaaS technologies and feature-rich platforms that allow users to send and store data on-chain without limitations. For example, CPUcoin’s ability to automatically handle renditions for any target device or content will enable large images and videos to be stored and viewed on-demand well beyond current limits. CPUcoin will control one out of twenty-one Wire Network tier1 nodes and gain access to 4% of the network's initial resources to enable their middleware Computing Global Network (CGN).

"After extensive research, it has become evident that Wire Network has the missing elements needed to fully decentralize our back-end services”, said Sean Barger, Managing Director of CPUcoin, “The partnership fully aligns with our vision of a sharing economy for computing power that significantly reduces costs associated with blockchain enabled cloud services."

Later this summer, to demonstrate its technical capability, CPUcoin will deliver $CPU to 186,000+ ERC-20 compatible wallets without incurring Ethereum mainnet gas fees for each individual transaction, virtually eliminating the $1-3 gas fee for each token delivery. In addition, via the Wire Network microtransaction system, all miners will now enjoy automatic reward delivery instantly to their wallet. This is made possible using the UPAP protocol (Universal Polymorphic Address Protocol), which Wire Network utilizes to provides users with a universal wallet address that can be used across blockchains for any number of transactions, from swapping crypto and adding liquidity to sending and receiving NFTs. The result is increased simplicity and a reduced number of transactions while also enabling high speed performance for micro CPU reward payouts.

The technology also enables CPUcoin to pay out on-chain rewards utilizing an innovative PoPW protocol (Proof of Productive Work) that optimizes computational resources across the network in real time to maximize efficiency. It leverages the power of the Ethereum network without being bogged down by overwhelming gas fees for every transaction. The assets will be distributed on the Ethereum mainnet by the Wire Name Service (WNS) smart contract using abstracted ownership. Transactions are settled using Wire's layer-1 blockchain and users will see their balance reflected in their UPAP-enabled wallets.

The cooperation with CPUcoin marks the first in a series of partnerships planned by the Wire Network ecosystem over the next six months as they roll out a set of full-stack protocols focused on universal interoperability and simplified onboarding for blockchain applications. These will use the UPAP protocol in combination with WNS to enable a single crypto sign-on and seamlessly onramp any modern enterprise from Web 2.0 to Web 3.0.

About Wire Network:

Wire Network is a groundbreaking blockchain technology which leverages an Appointed Proof-of-Stake (APoS) consensus mechanism and tiered node structure to deliver robust and efficient infrastructure for decentralized applications. The platform leverages Universal Polymorphic Address Protocol (UPAP) along with Wire Name Service (WNS) to enable seamless cross-chain transactions and enable universal interoperability across modern blockchains. With a primary focus of enhancing user onboarding, Wire Network also provides a novel Crypto Single Sign-On (SSO) and a decentralized password reset system, making modern blockchains more accessible and user-friendly for non-technical users.

Learn more at wire.network‍

About CPUcoin:

CPUcoin.io is a cutting-edge decentralized infrastructure platform that leverages idle computer resources to power cloud-based applications, including generative AI, dynamic imaging, on-demand video transcoding, live streaming, high definition responsive content display, and general computing scalability. CPUcoin incentivizes anyone to install the CPU and GPU PoPW miner on any Windows or Linux machine. The platform empowers users to monetize their unused computing power and earn rewards in the form of CPUcoin tokens. CPUcoin is traded on CEX: Probit.com - MEXC.com DEX: UniSwap V2 - Learn more at cpucoin.io