On Monday, August 23rd, we welcomed Youan, Global Branding Lead at Crust Network, to our Telegram Channel for an AMA.
Thanks to everyone who joined us, and congrats to the winners of the best questions asked. Read on for an overview of the most important questions we discussed.
Introduce yourself, please, Youan.
Youan: “I’m Youan, representing the Crust Network Marketing team. I’m responsible for the brand image, marketing activity execution of Crust. Crust is my first employer after my master degree at the University of Liverpool. I’m very interested in the blockchain industry and the decentralized cloud; I quite agree with the concept of Crust and trust our team members.”
Could you briefly explain CRUST?
Youan: “Crust Network is a decentralized cloud application developed with the Polkadot Substrate framework, providing an incentive layer to IPFS nodes. IPFS is a huge storage network; Crust provides incentives to let IPFS nodes store files for our users. Everyone should have used storage applications such as iCloud, Azzure, Google Drive… Crust provides the same service, users can use Crust to store or transfer files, but different from centralized cloud apps, Crust uses blockchain technology to distribute store files, which makes Crust have a lower price and high privacy/ safety.”
What are Crust’s advantages compared with your competitors?
Youan: Some applications have the same working mode as Crust, which implements storage by providing incentives for IPFS network nodes.
For example, Filecoin, but in the proof of work, Crust chooses the TEE hardware proof method, which allows us to have a faster proof speed than the Filecoin that passes zero-knowledge proof. It is precisely because of this that the application of crus is easier to be used.
The storage function has been opened on our Maxwell preview network, and now all users can store and transfer files through the Crust network.
Another advantage is the design of the Crust economic model. Crust uses the GPoS economic model, which is an economic model that combines PoW and PoS. The storage space provided by the node determines his staking limit, and the node’s revenue depends on the amount of his stake. We have continued Polkadot’s design and added the role of Guarantor in the staking section.
All CRU holders can directly stake the nodes through our apps to obtain income. This design makes mining no longer a game for miners but allows all CRU holders to participate.
Where are you in your roadmap?
Youan: “Our team was founded in 2018, after 2 years of developing and concept design. In November last year, Crust launched the first stage of opening incentivized testnet “Profit Ark” and started the layout of our nodes.
On 28 February this year, the Maxwell Preview network launched; it opened almost all functions such as GPOS staking, storage market and mining. The total storage capacity of Maxwell reached 682PB.
In early September this year, we will launch our Mainnet; now, the mainnet has opened transfer function and node access.
In the future, Crust will participate in the Kusama and Polkadot slot auctions. In the long term, Crust may support multiple layers except for IPFS and explore the cloud computing area.”
Are you going to participate in the Kusama/Polkadot slot auctions?
Youan: “Yes, we are very optimistic about the more possibilities that Polkadot’s huge heterogeneous ecosystem can give us. We used the Substrate framework when building the chain and reserved a large part of the token allocation for Polkadot’s slot auction. At present, we have decided to run the main network first, and then connect the main network to Polkadot after the Polkadot slot is photographed in the future.”
As a user, are there any ways to get in-depth contact with your project?
Youan: “1. As a normal user, you can try our storage function. Decentralized storage has faster transfer, lower price and higher privacy. In June, we launched the ‘Profit Data’; people can even earn money when they use Crust storage.”
“As a developer, the DCF foundation launched Crust Grant this year. You can develop apps based on the Crust network; winners get up to 30,000 CRU rewards.”
“If you are a community active, welcome to apply for our ambassador program. We will develop incentive policies from time to time to encourage ambassadors who work for Crust.”
Security is always a top priority for users. Can you tell us about your platform security? Have you done any audits via any third party?
Youan: “Our chain is based on the TEE technology, which is already used by some trusted and big-name companies. TEE help Crust to monitor the nodes’ workload, to ensure our user’s files’ security. “
Partnerships are always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
Youan: “Since we opened the storage function, lots of blockchain projects started to use Crust storage, Uniswap has deployed its dapp on Crust”
Can you explain how your Tokenomics Distribution is? How many tokens will be minted? And How many tokens will be locked by the team?
Youan: “Here is an overview of our allocation, and check out the below article to find out more. “
So many projects just like to speak about the “long term vision and mission”, but what are your short-term objectives? What are you focusing on right now?
Youan: “Our mainnet is coming soon; this is extremely important progress on our roadmap. welcome everybody to try CRust storage or participate in us as a guarantor.”
A big thanks to Youan from Crust Network for taking the time to answer the community’s questions. To learn more about Crust, check out their website and follow their social channels.
Telegram：https://t.me/CrustNetwork
Twitter：https://twitter.com/CrustNetwork
Discord：https://discord.gg/jmscTBjEPY
Medium: https://medium.com/crustnetwork
