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SHORT ABOUT: CRUST NETWORK

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What is Crust.

Crust implements the incentive layer protocol for decentralized storage with adapting to multiple storage layer protocols including IPFS, and provides support for the application layer.

Crust uses the Guaranteed Proof of Stake (GPoS) consensus, which is PoS consensus with storage resources as a guarantee quota. By storage resources Crust means meaningful data stored and empty disks that are available. To be chosen to generate blocks, nodes need to stake CRU tokens and provide storage resources to obtain the corresponding guarantee quota.

To quantify meaningful storage resource usage, Crust uses Meaningful Proof of Work (MPoW) mechanism, which is based on TEE (Trusted Execution Environment).

In Crust, when each node enters the network, the entire network needs to verify the identity of its TEE. It is determined that it is a valid TEE, and then remote authentication is performed to determine that the validation logic is executed in the TEE. Then this TEE is equivalent to the node’s monitor, which periodically checks the working status of the check node and generates a working report. Other nodes can reach a consensus on the storage space by verifying the TEE signature of the work report.

Products

Crust Cloud is a decentralized cloud storage platform based on the Crust decentralized storage protocol. For now it has the following functions: encrypted wallet, staking and cloud storage.

In the future it will support the data market and more applications.

It is in the test stage now, you can try it here.

Token

Ticker: CRU

There are 6 token functions divided into 3 categories:

  1. On-chain.
  • Staking
  • Fees
  • Voting

2. Storage market.

  • Data storage trading
  • Payment for storage services

3. Governance

Initial Supply: 20,000,000 CRU

5 millions is kept for a public sale and at least one more sale round will be held before the end of the year (according to this interview)

Detailed Tokenomics

Evolution stage

  1. Maxwell CC2 testnet
  2. In the middle of November a new, incentivized part of Testnet “Profit Ark” node recruitment will be launched. The Reward pool is 300 000 CRU. All rules can be found here. https://medium.com/crustnetwork/crust-profit-ark-incentivized-testnet-is-coming-19732363804a

Collaborations

Crust Network successively joined Substrate Builders Program and Web3.0 Bootcamp, and also obtained a Web3 Foundation Grant.

During the development, Crust network announced several collaborations:

  • With Blockchain platform FLETA — to introduce the decentralized storage technology of the Crust Network for application landing and development in the Korean market.
  • With Plasm Network. Plasm will support Crust on Layer-2 Scaling Solutions, while Crust will provide decentralized storage technology for Plasm.
  • With Maskbook. Crust will provide decentralized storage solutions for the Mask Network product after mainnet launch, while Mask Network will provide support for Crust product interface and social networking.
  • With 3Commas — to offer decentralized cloud storage solutions to 3Commas users worldwide.

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