Crust Network

What is Crust Network?

Crust Network serves as a decentralized cloud storage provider with a focus on embodying three fundamental principles: decentralization, privacy, and assurance. It accommodates various storage-layer protocols, including IPFS, and provides users with immediate on-chain storage capabilities. The technical stack of Crust enables data manipulation and computation. The key functionalities of Crust Network encompass NFT and Metaverse Metadata storage, personal file storage, as well as hosting for websites and decentralized applications (dApps).

Why Use Crust Network?

Crust Network boasts 3 main strengths: Decentralization & Privacy, Safety & Efficiency, as well as Availability & Assurance.

Decentralization & Privacy: In the development of the Crust Decentralized Storage Market, Crust employs a trustless and cost-effective TEE-based technology known as MPoW, which validates and manages storage resources. Supported by MPoW, Crust operates as an open network that welcomes any storage server to join. Additionally, files stored on Crust undergo encryption to ensure privacy.

Safety & Efficiency: Crust functions as a blockchain network utilizing a PoS-derived consensus called GPoS. The GPoS consensus model ensures that the network is secure, robust, and efficient, with guarantees and security provided by both token assets and storage resources.

Availability & Assurance: In contrast to competitors, Crust has established an on-chain storage marketplace named DSM (Decentralized Storage Market). Through DSM, users can swiftly upload files and initiate storage orders within the network in just 1-2 minutes. To uphold file availability, the network stores up to 50 replicas. Moreover, Crust offers a storage assurance pool for the customized or permanent storage of high-value files, such as NFT metadata.

Crust Network's Features

Dapp hosting: Decentralized applications often face security threats such as DNS hijacks or DDoS attacks, endangering users and assets. Hosting through Crust Network significantly reduces these risks, ensuring front-end security by globally distributing replications to prevent single-point-of-failure events.

NFT metadata storage: In the case of NFTs, metadata—representing visuals, characteristics, and unique information—is typically stored on centralized infrastructure, posing concerns about ownership, censorship, and security. By utilizing Crust Network's fully decentralized storage, users gain sustainable and immutable storage for NFT data, ensuring complete ownership and unstoppable availability.

Encrypted IPFS storage: Crust Network prioritizes the decentralization of data, offering users and applications full ownership, privacy, and decentralization. The platform's versatile storage services provide the necessary components for building on a serverless web3 infrastructure.

Crust Network Team Background and Partnerships

Leo Wang, serving as the Co-Founder of Crust Network, directs the development of products and technologies within the organization. With expertise in distributed storage, cloud computing, and blockchain domains, Leo brings valuable experience to his role. Prior to his involvement with Crust, Leo held the position of Development Lead at both Microsoft and Cisco. At Cisco, he also spearheaded a blockchain-based project aimed at storing and exchanging manufacturing data across various geographical locations.

Crust Network's array of partners extends across various domains, playing a crucial role in the Web3 ecosystem. In 2022 alone, the platform has forged partnerships with leading public chains, including Polygon, Heco, Near, Elrond, Flow, BSC, and Solana.

Within the DeFi ecosystem, AAVE's v0.2.0 version enjoys support from Crust, a collaboration prominently displayed on the frontend of AAVE's website. In the past, Crust also hosted the front-end website for Uniswap. Chainlink has announced a partnership with Crust, offering external adapters for its network nodes, facilitating seamless integration of the decentralized storage network for Chainlink developers.

A notable development is the merger of the Polkadot Wiki with Crust Storage's entry, consolidating information into a decentralized storage entry provided by Crust on Polkaapps.

Crust Network Project Development

Introducing Crust Cloud, the cutting-edge business service layer developed by Crust Network! The unveiling of this groundbreaking solution marks a significant advancement in addressing decentralized storage and hosting requirements within the Web3 landscape. Crust Cloud sets out with the primary goal of reimagining cloud storage as the central middleware in the Web3 domain, designating each storage bucket as a unique non-fungible token (NFT), along with every IPFS gateway.

With Crust Cloud, there is a transformative shift in the paradigm of how data storage capacity is obtained, accessed, managed, and owned in the Web3 arena. The simplicity of accessing decentralized storage resources, coupled with complete ownership facilitated by blockchain wallets like MetaMask, is unparalleled.

Embedded within the Crust Network, Crust Cloud leverages the extensive decentralized storage network of Crust, featuring over 1500 nodes and an impressive storage capacity exceeding 700PB. This robust infrastructure empowers Crust Cloud to offer a diverse range of services and storage options to both developers and consumers.

In a recent update, Crust Cloud has introduced its new EVM Storage feature, now with support for the Arbitrum chain! This enhancement enables users to experience W3Buckets (Web3 storage buckets) and W3Gateways at significantly reduced transaction fees.

Crust Network Price Analysis

As of November 24 2024 Crust Network has a marketcap of $14M. This is {{percentagefromath}} from its all time high of $179.24. In terms of its tokenomics, there's a total supply of 34M with 75% currently outstanding. Keep in mind Crust Network has a fully diluted value of $18M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.