PRESS RELEASE. One of the star projects of the emerging Polkadot ecosystem, Crust Network, recently completed a multi-million dollar Series A round of funding in September, with investors including NGC Ventures, SNZ, HashCIB, DFG, KNS Group and AU21 Capital. In 2020, Crust Network joined the Substrate Builders Program and won a grant from the Web3 Foundation.
In one of the key phases of Crust Network’s launch of decentralized cloud services to users around the world, Crust has revealed more details about their Storage Market design, a market for trading network storage resources that enables storage resource providers and storage resource users to trading in an open market. To promote the Crust Storage Market, the CSM token is given to community members who provide liquidity on UniSwap and through other community activities. In the future, Crust plans to implement other cloud services, such as decentralized cloud computing, which will also be bought and sold through Crust Service Market.
In preparation for the launch of the mainnet via Polkadot parachain, Crust Network launched their CC2 Maxwell testnet and “Profit Ark I & II” boosted testnet.
The “Profit Ark I” test was launched on November 30 and is scheduled to run for 50 days. 320,000 CRU tokens, worth approximately $ 1.4 million dollars, are expected to be awarded to all testnet participants. At the time of writing, more than 740 nodes in regions around the world have provided 40PB of data storage as part of “Profit Ark I”.
According to Polkadot telemetry, the number of Crust Maxwell CC2 nodes is already greater than that of Polkadot and Kusama, with storage nodes widely distributed in Europe, Asia and North America.
For the “Profit Ark II” test net, the Crust team plans to go through the full functionality of its network, including stakeout, warranty nodes, and other features.
According to news from the first edition of Polkadot Decoded on December 3, the parachain lock feature could start in February 2021. By then, Crust will release a detailed roadmap on their plans to participate in both Kusama and Polkadot auctions. According to Crust’s whitepaper, “approximately 40% of the environmental development budget was planned for slot auctions and related expenses,” said Crust CEO Bova Chen.
About Crust Network
CRUST provides a decentralized storage network for the Web3 ecosystem. CRUST supports multiple storage layer protocols, such as IPFS, and exposes storage interfaces to the application layer. Crust’s technical stack can also support a decentralized computing layer. CRUST is designed to build a decentralized cloud ecosystem that values data privacy and ownership.
Website: crust. network
Crust Node map and details – https://telemetry.polkadot.io/#map/Crust%20Maxwell%20CC2
Crust Profit Ark storage data – https://ark.crust.network/
Whitepaper Crust Economy – https://crust-data.oss-cn-shanghai.aliyuncs.com/crust-home/whitepapers/ecowhitepaper_en.pdf
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