Jan 21
Recap of the Crust Network AMA with Blockchain Space
On Tuesday, January 18th, we had the pleasure to welcome to our Telegram chat:
Lude, The Global Marketing Lead for Crust Network.
We asked him questions about the development of Crust Network.
INTRODUCTION
Q~ Thanks for joining us today Lude, kindly introduce yourself to the Blockchain Space community ?
A~ I am Lude and I am the Global Marketing Lead for Crust Network :) I joined Crust a couple months ago and before have been working within the cloud computing and software as a service industry.
Q~ Tell us about Crust as a project and the team that is behind it ?
A~ In a nutshell, Crust Network provides a decentralized storage network for the Web3 ecosystem and is build on Polkadot’s Substrate framework. It provides an unique incentive layer for the IPFS protocol and utilizes blockchain technology as well as other innovations to enhance security, privacy, performance and ownership of data.
The core team currently is 25 persons strong with headquarters in Shanghai and Singapore and smaller teams spread around the globe. I am located in Germany for example 😊. Our lead engineers worked for leading tech companies like Microsoft and Cisco where they first got in touch with decentralized storage solutions.
Q~ Where is Crust in the overall roadmap, where do you plan to go from here ?
A~ Our mainnet launched roughly 4 months ago and already provides a storage capacity of around 2,200 PB by more than 8,000 individual nodes. We recently integrated with most of public chains like ETH, BSC, Polygon, SOL, Near, Elrond etc. to offer a truly decentralized infrastructure.
In the future we will see even stronger integration with these chains. Next to that we are working on a “smart data” platform where it will be possible to write smart contracts for data. Also we are working towards solutions related to edge-computing and decentralized computing.
And some of our most recent accomplishments is the win of a parachain slots for the Kusama Network and we also are taking part in the Polkadot parachain auctions.
Q~ What are Crust networks use cases ?
A~ The use cases for Crust basically are endless. From storing data, hosting a website or dApp, file sharing, storing and minting NFTs or serving as infrastructure for the metaverse in a totally decentralized manner, Crust can offer all of this and will serve even more use cases in the future. The web3 ecosystem and the demand for decentralized storage solutions will grow exponentially in the future.
For example we just build a Dropbox like and web3 native storage application where you can login with your wallet and store your files on Crust Network. Feel free to try it:
We also built decentralized NFT marketplace and storage solution where you even can mint and store NFTs on totally decentralized platform.
Some of the bigger names who using our storage services are Uniswap, Aave or Polkadot to host their dApps or RMRK for NFT metadata storage.
Q~ Are there any special activities you are providing right now ?
A~ We actually just launched our huge user rewards campaign of 50 Million Dollar for our Crust Files cloud storage application. There are multiple prize pools to win and you even can earn 1 CRU per referral.
All you have to do to join our activities is to sign up as Premium user and deposit 3 CRU (you fully can redeem your deposit after 180 days). As Premium user you also will have free unlimited storage to store all your data totally decentralized and secure.
If you use the invite code “blockchainspace” you only have to deposit 2 CRU instead of 3 CRU. 😍
And as already said: It can be fully redeemed after 180 days. So it is basically free and you get the chance to win in our activities.
More information about our Share-and-Earn activity can be found here:
To use Crust files as Premium user you need to download our Crust web wallet (Chrome extension).
QUESTIONS FROM BITCOINTALK
Q~ It caught my attention that there is a possibility to be a “Premium User” on Crust Network, can you tell us more about this? What kind of advantages does someone who is a Premium User have over a Regular User? Also, how can I become a Premium User on Crust Network if I want to ?
A~ As already explained above there are many advantages of becoming a premium user. First of all you get unlimited free storage, then you can take part in our user rewards activities, you can encrypt your files and much more.
To join as premium user download crust web wallet, deposit 3 CRU mainnet token to Crust Files and enjoy using.
You can get our mainnet token here:
And with the invite code “blockchainspace” you only have to deposit 2 CRU.
Q~ I read in your medium that Crust Network has already held its first seminar to talk about Web2 and Web3 technologies, will continue to do more seminars like this by explaining more in-depth about “Witness” being your off-chain governance tool solution and what are the benefits and advantages it offers to guarantee absolute privacy ?
A~ We are holding many workshops and hackathons to showcase our technology and to help developers and builders onboarding to Crust Network
This one of the events taking place soon.
On top of the standard IPFS encryption we use a special encryption mechanism based on TEE tech (Trust excecuted environment)
Not even node operators themself can access or manipulate your data in any way.
QUESTIONS FROM TWITTER
Q~ Crust is constantly updating and evolving, can you tell us some of the major updates that has been made since the Mainnet was officially launched in September. What is the status of things presently on the Crust Network ?
A~ On the technical side that would be the integration with most major chains, Another important thing for us is the user experience and usability for end-users using our products.
Unlike other projects we provide solution that are fully web3 native and everybody can interact with right out of his wallet.
And in regards of our ecosystem we onboard more and more projects to our network using our technology and realizing exciting use cases with our storage solutions.
Also we strongly increased our team in the last couple of months since the launch of mainnet.
Q~ Arweave, Filecoin, Sia, Storj, etc. are popular competitors in the decentralized storage space, what is it that you are doing differently from them to remain at the top of your game and onboard more partners and users in this field ?
A~ Interesting question
Arweave provides permanent on-chain storage which is very expensive and only makes sense to use for a very small set of data (6–9$ per GB).
Crust can mostly be compared to Filecoin cause they also build an incentive service layer on top of IPFS.
But we have many advantages compared to Filecoin. Our network doesnt need expensive GPU power for our algorithm and for a sealing process which takes couple of hours on Filecoin we can do it in a couple of seconds.
Also we are more decentralized cause of our GPoS mechanism and our totally permissionless network.
And the biggest advantage over Filecoin is, that we are actually ready to use. Everybody can directly interact with our chain out of their own wallet.
Filecoin cant do that and need centralized bridges, layer 2 solutions or 3rd party services to be usable which isnt suitable for the average storage user.
You can check our regular storage prices here.
Q~ I see that Crust provides a blockchain storage marketplace called DSM (Decentralized Storage Marketplace). What are the functions of DSM? How does it help users to easily upload files and place storage orders on the network ?
A~ Our decentralized storage market brings storage providers (miners) and users together.
Via smart contract based mechanisms users can upload data which will be picked up be miners and securely saved. Miners will receive rewards for that.
A more user friendly way to upload data to our network is via our app crustfiles.io
QUESTIONS FROM TELEGRAM
Q~ Can you give an overview of your Tokenomics and the utility of Token?
A~ Token utilities are: Transactional network fees, Mining rewards, Currency of our decentralized storage market, voting in our on-chain democracy, Staking in our GPOS mechanism.
Q~ I am interested to invest in your project. When and where can I buy your tokens, Is it already listed exchanges?
A~ We are listed with our ERC-20 token on Uniswap or some large exchanges like Huobi, Coinone, and others. Our mainnet token can purchased on Gate.io, Hotbit or our own swap exchanges which works for BSC and ERC-20
Q~ I read that Crust Network is a PoS-derived consensus blockchain network called GPoS. What are the advantages that this consensus protocol provides to Crust protocols? What fundamentally differentiates GPoS from others like LPoS, DPoS or WPoS?
A~ GPoS stands for Guaranteed Proof of Stake. This means that the maximum possible stake per node depends on the physical storage capacity provided by the node. Currently, for every TB storage provided, nodes can stake 1 CRU. This ensures a higher degree of decentralization.
Q~ What is the medium and long-term approach of The Crust Network, what are the main functions and roles they play within the crypto space, why did they decide to venture into this industry and what are their projections from now on to about 3 or 5 years?
A~ Crust will provide a fully decentralized infrastructure for the web3 environment which will grow massively in the future. The amount of data in this world is expected to double every 2 years and lots of that will be stored on decentralized solution. In that area Crust wants to become a household name.
Q~ For the Share-and-Earn Rewards Program, is it only premium users that can participate in the events?
A~ Yeah, to take part in our share and earn rewards program you have to become a premium user. But with the invite code; blockchainspace you only need 2 CRU to claim your premium account and get the chance to earn your CRU out of our 50 Million Dollar prize pool.
CONCLUSION
Check out our community on telegram and check our achievements on Medium. I would be happy to see some of you in our community.
And try out crustfiles.io 😜
Thanks so much for having me here!!!!
It’s really nice having the Crust Network project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Crust Network.
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