What’s the Crust Network?
Throughout the last year, businesses and individuals have moved more and more online. They’ve also started relying more heavily on often centralized cloud providers and storage solutions when doing so. However, especially when it comes to sensitive personal information, some learned the hard way that these providers weren’t always safe as we saw many Big Tech companies being hacked or experiencing breaches. Last year alone, more than 3950 data breaches from leaked Zoom credentials to Spotify passwords happened. And this is just the number of confirmed breaches. There might’ve been many more we do not know of.
While centralized storage entities are convenient, with centralized infrastructure, they also make a good target for hackers and malicious actors to try and DDos a site or use social engineering to get to sensitive information.
Crust Network introduces an alternative way to enable data storage and empower users to control their information. The platform focuses on providing user-oriented storage service and making high-quality, secure storage available to end-users comparable to the convenience and speed of existing cloud providers.
Crust Network is built on Polkadot and decentralizes storage by distributing files to different nodes in the network. Doing so eliminates the need for a centralized service provider that controls the input and output of data and information. In addition, Crust Network is interoperable to be used in conjunction with multiple storage layer protocols such as IFPS.
Crust delivers this through a multi-layer architecture, including a workload consensus layer (MPoW), a blockchain consensus layer (GPoS), and a distributed cloud storage layer (Service).
- Service Layer: provides all the user-oriented services, lets users interact with the Crust Network, upload files, and store them. They can manage their data, take charge of its security and define when data is sent through encrypted channels and who will have access to view it.
- Blockchain Consensus layer: employs a Guaranteed Proof of Stake algorithm that relies on Stakers to maintain the network. However, unlike in other PoS protocols, to qualify as a staker, node operators have to hold a certain amount of the native platform token CRU and provide storage space. This incentivizes stakers to follow what’s best for the network and makes the whole chain less susceptible to attacks as an attacker needs to control significant storage resources.
- Workload consensus: is managed through a meaningful proof of work algorithm (MPoW). To ensure data integrity and privacy, all nodes in the network are monitored regularly. This monitoring happens through local TEES (Trusted execution environments) that formulate workload reports om-chain. Whenever a new node joins the system, it has to undergo environment detection, meaning that earlier nodes will verify the environment of the new node and only then store its ID. MPoW establishes a transparent and fair algorithm that rewards nodes automatically and is protected by TEEs.
The network is held up by a variety of different users that can broadly be categorized into:
- candidates: these are nodes that would like to join as a network verifier. To qualify, they will have to provide storage resources that serve as a guarantee and stake a certain threshold of CRU tokens. Additionally, they have to keep their node online. This type of node doesn’t participate in the block generation but receives a share of the block rewards and can sell their storage resources on the marketplace.
- Verifiers: are the ones who add new blocks to the chain and secure data and privacy. The verifiers participate in the consensus, and just like candidates, they have to stake CRU, provide storage resources, and keep their nodes online as the network relies on them. If a verifier behaved maliciously, their stake would be confiscated.
- Guarantors: instead of running a full node and providing storage resources themselves, guarantors delegate their existing resources to others and earn a stable income in return.
- Lastly, the users who subscribe to the network use the decentralized node infrastructure to manage their data and compute it.
All transactions on the Crust network are paid for in the native platform token CRU. It is used for staking, block rewards, fee payments, node enrollment pledges, and node penalties. Once users have purchased CRU, they can spend it on the marketplace to pay for storing their data in a decentralized, secure network.
As data is becoming more sought after and individuals are more aware of their right to protect themselves, decentralized storage solutions like Crust offer an accessible way for anyone to get started.
With high interoperability with existing storage protocols, businesses can benefit from adding Crust to their storage solutions and making their data more resilient and less attack prone.
CRU is now trading on Bitcoin.com Exchange with BTC and USDT pairs.