Fun

Crust Network Launches Crust Storage Market, Decentralized Cloud Service Built on Polkadot

News Feed - 2020-12-29 08:12:31

Crust Network Launches Crust Storage Market, Decentralized Cloud Service Built on Polkadot


PRESS RELEASE. One of the star projects of the emerging Polkadot ecosystem, Crust Network, recently completed a several million dollar Series A financing round 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 stages of Crust Network launching decentralized cloud services to users worldwide, Crust has revealed more details about their Storage Market design, a network storage resource trading market that allows storage resource providers and storage resource users to transact in an open market. In order to promote the Crust Storage Market, the CSM token is being given to community members that 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 mainnet launch via Polkadot parachain, Crust Network launched their CC2 Maxwell testnet and “Profit Ark I & II” incentivized testnet.

The “Profit Ark I” testmet launched on November 30th and is scheduled to run for 50 days. 320,000 CRU tokens, worth approximately $1.4 million dollars, is planned to be awarded to all testnet participants. At time of writing, over 740 nodes in regions around the world have provided 40 PB of data storage as a part of “Profit Ark I”.


According to the Polkadot telemetry, the number of Crust Maxwell CC2 nodes already exceed that of Polkadot and Kusama, with storage nodes widely distributed in Europe, Asia and North America.


For the “Profit Ark II” testnet, the Crust team plans to run through the full functionality of it’s network, including staking, guarantee nodes, and other functions.


Parachain Auctions


According to news from the first edition of Polkadot Decoded on December 3rd, the parachain slot function may launch in February 2021. By that time, Crust will release a detailed roadmap about their plans to join both Kusama and Polkadot auctions. Based on the Crust whitepaper, “around 40% of the ecological development budget was planned for slot auctions and related expenses”, according to 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 is also capable of supporting a decentralized computing layer. CRUST is designed to build a decentralized cloud ecosystem that values data privacy and ownership.


Website: crust.network


Email: crustnetwork@gmail.com


 


Sources:


Crust Node Map & Details – https://telemetry.polkadot.io/#map/Crust%20Maxwell%20CC2


Crust Profit Ark Storage Data – https://ark.crust.network/


Crust Economy Whitepaper –https://crust-data.oss-cn-shanghai.aliyuncs.com/crust-home/whitepapers/ecowhitepaper_en.pdf


 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. New York Approves Its First Publicly Available Japanese Yen Stablecoin REGULATION | 3 hours ago Augmented Reality Firm Nextech AR Joins the Bitcoin Treasuries Bandwagon, Buys $2 Million BTC FINANCE | 5 hours ago Tags in this story Cloud Storage, Crust Network, Cryptocurrency, Polkadot


Image Credits: Shutterstock, Pixabay, Wiki Commons Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

News Feed

Savannah Fortis13 hours agoFriend.tech look-alike ‘Alpha’ emerges on Bitcoin networkA new social token network called Alpha has emerged, rivaling the popular Friend.tech platform but built on top of the Bitcoin block
Xapo Bank Integrates Lightning Network Payments Through Lightspark Partnership
Xapo Bank Integrates Lightning Network Payments Through Lightspark Partnership On March 2, Xapo Bank announced its partnership with Lightspark, a company led by David Marcus, forme
Legendary Rocker Ozzy Osbourne’s Ozzfest Festival Is Coming to the Metaverse
Legendary Rocker Ozzy Osbourne"s Ozzfest Festival Is Coming to the Metaverse Following the drop of Ozzy Osbourne’s Cryptobatz non-fungible token (NFT) collection that consists of
Crypto Extortion on the Rise, Says Academic Study
Crypto-based extortion –  basically the process of using spam-flinging botnet armies to “ransom” dirty pictures and compromising information in exchange for bitcoin  –  has tur
Tom Mitchelhill7 hours agoSam Bankman-Fried’s political donations can be surfaced in trial, rules judgeDespite campaign finance charges being dropped in July, the prosecution has been granted permission to present evid
Ethereum Attempts Key Breakout: Analysts Set Next Target As ETH Reclaims $3,200
Este artículo también está disponible en español. Ethereum (ETH) price is finally moving after a week of sideways movement. In the last hour, the second-largest crypto ha
US senators, FBI aren’t opposed to crypto privacy: Railgun contributor
Tom Mitchelhill6 hours agoUS senators, FBI aren’t opposed to crypto privacy: Railgun contributorEthereum privacy protocol Railgun contributor Alan Scott Jr. says U.S. regulators and government agencies don’t get enou
Yashu Gola9 hours agoWhy is Bitcoin price stuck?Bitcoin is a volatile asset, but BTC price can stay flat for days, weeks and even months for various reasons.14752 Total views77 Total sharesListen to article 0:00Market An
While His Digital Trading Cards Tumble in Value, Trump Says His ‘Cute’ NFTs Were About the Art
While His Digital Trading Cards Tumble in Value, Trump Says His "Cute" NFTs Were About the Art After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungibl
Helen Partz10 hours agoCaitlin Long’s Custodia Bank launches Bitcoin custody platformCustodia Bank’s launch of Bitcoin custody follows a series of regulatory challenges the firm faced earlier this year.2295 Total vie
Konami’s Castlevania Anniversary NFT Sale Raises Over $160K
Konami’s Castlevania Anniversary NFT Sale Raises Over $160K Konami, a Japanese game developer and software publisher, raised more than $160K in its first foray into the non-fungi
Bitcoin bull market may return after $1.4T US liquidity spike — Prediction
William Suberg34 minutes agoBitcoin bull market may return after $1.4T US liquidity spike — PredictionBitcoin and crypto may still have a friend in U.S. treasury secretary Janet Yellen if liquidity comes roaring back