Crust Network AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
Youan, Brand representative of Crust Network
CryptoDiffer team
Q1: Can you introduce yourself to our community ?
Brand representative of Crust Network, Youan
Hello everyone, thanks for having me today! I am the brand representative of Crust Network, Youan.
I’ve been working at Crust Network for half a year now. I have always maintained an interest in the blockchain industry. The world of blockchain changes in a day like a month in the traditional industry. I joined Crust because I am very optimistic about the future of decentralized storage, and I quite agree with the concept and values of the project
CryptoDiffer team
Q2: Can you briefly tell us what is Crust Network in 3-5 sentences?
Brand representative of Crust Network, Youan
Crust is a decentralized cloud blockchain technology based on Polkadot, it provides a decentralized storage network for Web3.
Different from IPFS, the Crust Network is an incentive layer. Nodes are responsible for providing storage space. When the user places an order, Crust acts as a platform to supervise, incentive or punish the nodes, and the nodes store data for the user. Many people call us “Filecoin on Polkadot”. Also as a decentralized storage project, we are committed to solving three problems: The nodes’ workload proof, the incentive mechanism for nodes and the service to the user layer.
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
Brand representative of Crust Network, Youan
Our project was established in 2018. We have now joined the Substrate Builders Programme and successfully graduated from Web3.0 bootcamp. Crust is the first batch of projects sponsored by the Web3 Foundation Grant
Crust completed the internal and external testnet respectively this year. In September, Crust released Crust Cloud, a personal cloud service product. Crust private placement has ended in September this year. At the Polkadot online conference a few days ago, Crust ranked fourth in the financing amount of Polkadot ecological projects
Our mainnet will be launched in the first quarter of next year. Before that, we will have two rounds of incentive testnets. The first round——Profit Ark, has started on November 31. untill today, there are already 768 storage nodes all over the world. In the first round testnet, we issued a total of 300,000 CRU rewards
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
PoR + PoST + IPFS is used by FILECOIN , while Crust adopts TEE/MPoW + GPoS as a cloud storage project,
What makes Cloud’s TEE/MPoW + GPoS different to that of Filecoin’s?
Is GPUs also required or
Is there any minimum specs required to start the storage mining?
Brand representative of Crust Network, Youan
Good question, I just mentioned that both filecoin and crust are trying to solve three problems: proof, incentive and service. Filecoin uses complex cryptography and zero-knowledge proof. This causes it to consume a lot of computing power when verifying the workload of the node, and it is slower. Crust uses the TEE local certification method, which greatly improves the node verification speed and reduces the requirements for node configuration.
When solving the incentive problem, Crust proposed the GPoS consensus mechanism. The stake amount of each node depends on the storage space it provides, and the node’s income depends on its stake amount. At the same time, there is no need to buy tokens for collateral as a node in Crust. We support each node to accept token collateral from other token holders.
Cryptodiffer Community
CRUST is not the first decentralized storage network I have heard of, there are others, such as RiveX, that work really well. Which unsolved problem of the crypto space is solved in Crust Network?
Brand representative of Crust Network, Youan
This is similar to the previous question. The original intention of Crust was to make an application to solve practical social problems. Crust hopes to protect each user’s data ownership. Crust pays more attention to service. In the next second phase of the test network, we will also start testing on the user side. So Therefore, Crust designed a more convenient and economical proof algorithm and a fairer reward mechanism. These are for a better user experience. We are currently designing and launching a brand-new token CSM for the storage market, which will be used for discounts for future users, and at this stage we are issuing them all for free. You can go to our Twitter to check how to get CSM
Cryptodiffer Community
Are there some minimum requirements regarding the specs to start the storage mining on your platform.. regarding GPU for example?
Brand representative of Crust Network, Youan
You need a CPU with TEE function. And need to provide storage space. Only these two points need to be met. Generally, there are INTEL hard drives with SGX function. Our development team tested some of the machines and made a table, which you can check on our GitHub.（https://github.com/crustio/crust-sworker
Cryptodiffer Community
How do you rate the launch of a testnet called Profit Ark? What are the main indicators like the number of verifiers and storage space you have achieved?
Brand representative of Crust Network, Youan
We will report the status of our testnet on medium every cycle. https://medium.com/crustnetwork
Today’s total storage reached 42.091PB
Cryptodiffer Community
Crust Network is using the consensus mechanism “Meaningful Proof-of-Work” and “Guaranteed Proof-of-Stake”? What improvements do those have to the regular PoW and PoS mechanisms?
Brand representative of Crust Network, Youan
Many people have asked about MOPW and GPOS. This is also one of the biggest highlights of the crus project. Crust’s node work is to store data for users. Compared with the purely computational work of many blockchain projects, Crust’s node workload is meaningful. GPOS makes the competition of nodes no longer compare computing power or money, but fair adoption and pay more. Nodes can accept token mortgages from others, which also greatly reduces node requirements.
Cryptodiffer Community
Now, what are Crust’s main products? In what cases is the current Crust used?
Brand representative of Crust Network, Youan
After the mainnet goes live next year, everyone can use the crust network for storage. It has the same functions as Amazon Cloud, Alibaba Cloud, etc., but Crust is decentralized. Our users can be individuals or organizations.
Cryptodiffer Community
Q) We have seen many Advancements in Crypto Industry??
What Real Life Changes crust network Brings to the Market?and Why was it Important??
Do you plan to build partnerships with local cryptocurrency developers and local project in each country to make the use of CRUST NETWORK more GLOBAL ?
Brand representative of Crust Network, Youan
I would answer your second question. Make Crust more global is exactly what we are doing. You can see our map of node distribution around the world. We have been actively seeking high-quality projects around the world to cooperate.
https://telemetry.polkadot.io/#map/Crust%20Maxwell%20CC2
Cryptodiffer Community
Speaking of sensitive data, I know that Crust Network adopts TEE (Trusted Execution Environment) technology where data can be handled confidentially and securely. Could you tell us more about how it works?
Brand representative of Crust Network, Youan
You can understand TEE as a box of your computer host. There are TEE modules in our mobile phones and computers. We record the face into the phone and save it by TEE. TEE can use your face information but it will not leak out. In the operation of crust, TEE is responsible for monitoring whether the node loses or damages the user’s files, and uploads the node’s workload report to the chain, but it will not leak the content of the file. TEE is an industrial-grade mature module.
Cryptodiffer Community
I was looking through some statistics and it seems that 88% of the total cloud storage space is being unused – how does Crust see this as a challenge? Also, which layers do you support besides IPFS?
Brand representative of Crust Network, Youan
Efficient use of storage resources is also one of our wishes. Airbnb uses unused housing to bring benefits to the landlord and also brings people a lower price of accommodation. This is what Crust wants to do. We currently support IPFS and FastDFS, and will support more file protocols in the future
Cryptodiffer Community
Why did Crust Network choose to build on Polkadot ecosystem? What are the advantage using Polkadot for Crust Network?
Brand representative of Crust Network, Youan
First of all, we believe in gavin wood and substrate framework. In the early days of establishment, we tried multiple ecosystems of Ethereum and Cosmos, and they all had some problems such as high handling fees, low TPS, weak chain customization and so on. As a public chain to be applied, we need to consider a lot. We also believe that in the future, after Polkadot is connected in parallel, Polkadot’s application scenarios will be very wide
Brand representative of Crust Network, Youan
Here are the answers to 10 questions, thank you for your interest in the Crust project! You can follow us on Twitter or tg.
Twitter: @CrustNetwork
Telegram: https://t.me/CrustNetwork
Medium: https://medium.com/@crustnetwork
Website: https://crust.network/
Cryptodiffer TEAM
Thank you for you answers, it was an insighfull session
Thank you everyone who participated, great questions as always!
