What is Crust Network?
Crust Network is a decentralised storage network and cloud solution designed to support both Web 3.0 and Web 2.0 ecosystems. It is built on Polkadot’s Substrate framework and leverages blockchain technology to enhance data privacy, security, and ownership while providing efficient storage solutions.
How does Crust Network work?
Crust Network operates using several integrated technologies:
- Underlying Technology: It uses IPFS (InterPlanetary File System) as a decentralised storage framework.
- Blockchain Framework: Built on Polkadot’s Substrate, it allows cross-chain communication.
- Consensus Mechanism: Utilises GPoS (Guaranteed Proof of Stake) requiring nodes to stake CRU tokens and provide storage capacity for network security.
- Smart Contracts: Manages storage orders through a Decentralised Storage Market (DSM).
- Data Integrity: Employs MPoW (Meaningful Proof of Work) with TEE (Trusted Execution Environment) technology for storage verification.
What are the potential use cases for Crust Network?
Crust Network can be utilised in various applications:
- Decentralised Hosting: For DApps and websites.
- NFT/Metaverse Storage: Secure metadata storage for NFTs.
- Personal File Hosting: Offers secure cloud storage solutions.
- Content Delivery Networks: Enables P2P content delivery.
- IoT Applications: Real-time data processing and storage.
- Cross-Chain Storage: Supports multiple blockchain networks.
What is the history of Crust Network?
Crust Network launched in 2020, founded by blockchain experts, and has achieved significant milestones such as strategic partnerships, a successful token offering, and funding rounds. It has continued to evolve technologically by integrating with Polkadot’s framework, employing GPoS, and advancing its decentralised storage solutions. The network maintains a focus on community engagement through its DAO model and governance processes.