Nutbox × Crust AMA on 2021-09-08
Explain briefly what is Crust?
Crust network is a decentralized storage protocol developed using the Polkadot Substrate framework by providing an incentive layer for IPFS storage nodes.
IPFS is a huge storage network. Through the design of incentive model, Crust rewards storage nodes so that they can help our users store data. Both Crust and Filecoin are based on the incentive layer of the IPFS storage network.
Crust provides the same services as Alibaba Cloud, Baidu Cloud, and iCloud storage that you usually use. Our users can be individuals, companies, organizations.
Who are in the core team of Crust?
There are two of our founders, Bova Chen has more than 15 years of experience in the financial investment and fund industry, and he also founded Infinity Labs.
Leo Wang has more than 15 years of experience in traditional cloud storage and big data industries. He has served as senior technical management in Autodesk, Microsoft and Cisco.
Our development team has many masters from Tsinghua University, Zhejiang University, and Shanghai Jiaotong University, most of which are former employees of Microsoft and Cisco. Such an excellent team is also one of the reasons why I chose to join Crust!
Why was Crust deploy on Polkadot?
To be precise, Crust has not yet been deployed on Polkadot. Crust uses Polkadot's substrate framework when building the chain, because we like the on-chain upgrade of substrate and on-chain democratic governance.
We want to join the Polkadot ecology because we value the heterogeneous ecology proposed by Polkadot, which can bring about information interaction between paralchains and solve the current problem of information islands in the blockchain.
We have obtained the WEB3 Grants last year
What's the difference between Crust and IPFS & Swarm? Seems like these projects are so similar. So please kindly explain to us?
First of all, IPFS and Crust cannot be compared. As I mentioned just now, IPFS is a huge distributed storage network. All nodes can retrieve, store, and download files in the IPFS network, but these nodes are not rewarded. , Crust designed an incentive layer, by rewarding nodes, allowing nodes to help our users store data. Crust and Filecoin are doing the same thing. Now, the IPFS official website has included Crust Network in their ecological project.
Swarm is a storage protocol based on Ethereum. Their workload proof mechanism and economic incentive model are very different from Crust. Swarm's incentives are generated by file retrieval between nodes, so when the network does not have valid data, their miners are not rewarded.
What is the collaboration between Nutbox Walnut & Crust?
Crust participated in both the first and second rounds of the Kusama slot auction. Nutbox provides users with a decentralized voting portal, allowing users to pledge KSM through Nutbox, and at the same time they can get Nutbox community tokens.
In both rounds of auctions, Nutbox was the decentralized voting portal recommended by Crust!
After the Crust mainnet is stable in the future, Nutbox may be able to have more in-depth cooperation with Crust, such as helping nodes raise CRUs from retail investors for use in Crust network staking.
We are very happy to cooperate with Nutbox to bring more novel and profitable gameplay to users!
How could we contribute to Crust via Nutbox slot Auction?
I believe Nutbox will have official tutorials and instructions for voting! You can find it through Nutbox's official website!
How could we participate in Crust ecosystem? Any community development plan for Crust project?
For ordinary users, there are three ways to participate in Crust:
1。Use idle computer resources to become a Crust node and earn revenue. The Crust proof mechanism uses TEE hardware, so the requirements for node configuration are extremely low. You can easily find node instructions and communities no matter from the official account or the official website.
2。The Crust economic incentive consensus continues the design of the Polkadot system and adds the role of guarantor. Any CRU holder can earn income by staking for other nodes without a machine.
https://wiki.crust.network/docs/en/guarantor
3。Actively pay attention to first-hand official information. In the early stage of the mainnet launch, we will release a large number of benefits to promote consensus and application landing. In addition to using Crust decentralized storage for free, users still have many opportunities to get airdrops!
Developers are welcome to apply for Crust Grant and earn bounty by improving the full-stack application for the Crust network. We give developers a reward of up to $30,000.
https://medium.com/crustnetwork/crust-grants-handbook-a1369c766ab3
For those who are active in other communities, welcome to apply for the Crust Ambassador Program to help Crust expand its consensus around the world. We will also organize welfare activities about Ambassador Crust from time to time.
https://twitter.com/CrustNetwork/status/1382173255767711748
I see Crust has announced the Mainnet online plan, what's the next step of Crust?
In last year's Profit Ark, Crust completed the node-side layout. You can think of Crust as Uber, then the node layout is recruiting car owners. The storage function was opened at Maxwell on February 28 this year, which is equivalent to the official opening of taxi-hailing tests. The Crust mainnet went live on September 1, and the current block generation is stable. The total node capacity of the entire network has reached 1.7EB. All of Crust's activities and plans in the following will focus on application promotion!
For retail investors, we are planning a creative video storage competition to directly provide users with order fees. We are still planning a promotion code to give users all over the world promotional codes to experience decentralized storage for free!
For the to B side, we are actively interacting with traditional companies and blockchain projects that have storage needs, and provide free services in the early stages of their storage. Around some large-scale platforms such as NFT, free pin services will also be launched, and some fun activities will be planned around this.
Currently Uniswap has merged the website deployment code we provided for it, and Uniswap Dapp has been officially pinned to the IPFS network through Crust.
https://twitter.com/CrustNetwork/status/1372851369367928835
What's the difference between validator and guarantor?
In the Crust network, the validator represents the block-producing node of the network. You need to provide storage space and a machine adapted to the TEE to become a node.
The validator needs to pledge CRU to earn network revenue. In the crus network, the role of guarantor has been added. The guarantor can be a simple currency holder and earn income by helping nodes pledge cru.
The validator can be his own guarantor, as long as he holds CRU. Any cru holder can become a guarantor without the need for a machine.
I checked the KSM contribution of crust, can you explain more about your crowdloan plan?
The function of the Crust network will not be very important in the early stage of the operation of the parachain. After the parachain becomes more stable, the importance of decentralized storage will gradually become apparent. So in the early stage of the auction, we will not auction slots at high prices for marketing effects.
Could you tell us what is the Token distribution plan of Crust or Shadow?
The CRUST mainnet's native token is CRU. There are two ways to generate CRU tokens: one is one-time generation when the mainnet is launched; the other is generated with the generation of blocks. The number of tokens generated when the Crust mainnet is launched: 20,000,000 CRU
https://medium.com/crustnetwork/crust-token-metrics-economics-84592efc6d1f
The token generated with the block has rewards and points exchange rewards for each cycle, mainly rewarding nodes in the participating network, maintaining the security of the network protocol, and encouraging all participants to participate in the network at an early stage. The total issuance method is as follows: The total issuance of 5,000,000 CRU in the first year will be 88% of the previous year from the second year, and will not decrease until the network-wide inflation rate reaches 2.8%！
When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future
https://coinmarketcap.com/currencies/crustnetwork/markets/
Check here!
Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?
The biggest feature of Crust is that our users can be anyone. Crust is a pure storage application just like icloud and azure that everyone uses. You can check this storage tutorial to experience decentralized storage! https://coinmarketcap.com/earn/videos/how-to-use-crust-storage
Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?
Centralized storage currently has problems such as no privacy and security, slow speed, monopoly of the market, and high prices. Decentralized storage can solve these problems very efficiently. However, the public's attention to privacy and data sovereignty needs to be increased. We believe that decentralized storage is the way of the future. Uber, like airbnb, coexists with traditional industries and brings new user experiences.
Compiled by:
Sook Jin Goh,
Nutbox Ambassador for Malaysia,
Director at Nanyang Global Scientific Research Centre
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