Decentralized Storage Market Launches on Crust Network – Press release Bitcoin News


Press release

PRESS RELEASE. Decentralized storage is an important infrastructure in the technical area. With the start of the Filecoin mainnet in October 2020, Filecoin and IPFS are now leaders in the field of decentralized storage. Crust Network, one of the main projects of the IPFS / Polkadot ecosystem, proposes to implement key concepts of Filecoin based on the technical framework of Substrates within the Polkadot ecosystem and also to address various design and technical issues of Filecoin.

After several internal test rounds, Crust Network has launched its decentralized storage market for Crust Apps and opened storage functions for users for public tests from the end of February.

Crust Preview Network, Apps and DSM

Crust builds a decentralized storage network based on the Substrate and PolkadotJS stack. Crust uses IPFS as the underlying protocol for storing, retrieving and exchanging data and includes multi-layered solutions for storage evidence, PoS-derived consensus, storage market and storage applications.

The Crust Maxwell Preview Network was officially launched on February 4, 2021. As a preview network, Maxwell implements all of Crust’s core mechanisms, including token staking, decentralized storage market (DSM) and file retrieval. Maxwell runs in a real economy system and participants can lock their CRU tokens (ERC20) for staking, storing and retrieving files from Maxwell and request them from the Maxwell network. Mining revenues at Maxwell are generated through nodes that can be reclaimed back to the Ethereum network. Further information can be found on the Crust Wiki.

At the time of writing after Polkadot telemetryOver 1,200 nodes from around the world have provided over 100 PB of storage capacity as part of the Maxwell Preview Network.

“We have allocated a total of 540,000 CRU awards to users participating in the Preview Network. Users can save and retrieve files, stake out CRUs, or do storage mining right from ours App“Explained Crust CEO Bova Chen.

The Crust DSM (Decentralized Storage Market) is part of the Crust App and enables storage users to place storage orders in the chain. The files specified in a specific storage order are stored and retrieved by nodes on the Crust network. Crust users can save and access their files directly through this system.

Bova gave an example of hosting a website in one click via Crust Apps, which streamlined the process of using decentralized website hosting. Hosting a website on Crust allows for greater flexibility in bandwidth requirements and eliminates the need and risk of buying servers or bandwidth from traditional providers.

“Now that Crust Apps has started crustMore developers will join us. The Apps Wallet’s Storage tab is a good example of using the storage network. The developer community can refer to it and build their own storage applications, ”said Bova.

In addition to the DSM app, Crust will release the DSM SDK / API to the public in mid-March. In addition, Crust will continue to provide incentives to encourage developers to join the Crust SDK / API and use it to develop upper-tier storage-related applications in the thriving Web3 era of storage services.

The crust journey

The Crust project started in 2018.

After a long-term development, Crust Network gradually joined the Substrate Builders Program and the Web3.0 Bootcamp and also won the Web3 Foundation Grant.

In September 2020, Crust ended financing round A with NGC Ventures, SNZ, HashCIB, DFG, KNS Group and AU21 Capital.

From November 2020 to January 2021, Crust successfully launched its open test network “Profit Ark” with incentives. 320,000 CRU tokens are issued to storage nodes that are widely used in Europe, Asia and North America.

Crust has connected to the Rococo Parachute Testnet.

Crust Network

CRUST offers a decentralized storage network for the Web3 ecosystem. Crust supports several storage layer protocols, such as: B. IPFS, and makes storage interfaces available to the application layer. Crust’s technical stack can also support a decentralized computing layer and is designed to build a decentralized cloud ecosystem that values ​​privacy and property.

Crust Network Timeline:

  1. 2020 Q4: Incentivized open TestNet.
  2. 2021 Q1: MainNet start. Crust will participate in the Parachain slot auction.
  3. 2021 Q2: Product launched, Crust API / SDK opened for use.

This is a press release. Readers should conduct their own due diligence before taking any action related to the advertised company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Photo credit: Shutterstock, Pixabay, Wiki Commons