Web3 Journey with Decentralized Storage
About the Project
Crust is a digitally encrypted application layer built on the innovative MPoW (Meaningful Proof of Work) mechanism and GPoS (Guaranteed Proof of Stake). It represents a new generation of blockchain technology that supports decentralized storage and computing. The Crust network is designed to be a fair and open mechanism characterized by high security and low energy consumption. By utilizing blockchain technology for consensus, Crust ensures that decentralized storage is reliable and trustworthy, allowing users to employ their idle storage devices to participate in the creation of decentralized file systems easily and equitably.
In the decentralized storage and Trusted Execution Environment (TEE) scenario, Crust leverages blockchain technology to provide a robust consensus foundation. The network's flexibility, stemming from its MPoW mechanism, enables Crust to integrate consensus building with both decentralized storage and computing. This design allows for the seamless transition from decentralized storage to a comprehensive technology stack, encompassing the Activating Layer (consensus), Network Layer, Persistence Layer (storage), and Application Layer (computing). As a result, Crust not only addresses the needs of decentralized storage but also paves the way for the integration of decentralized computing solutions.
Use Case
Crust's decentralized storage and computing solutions offer significant advantages in various real-world scenarios. For instance, in the context of cloud computing, Crust provides a decentralized alternative to traditional centralized cloud storage services. By enabling users to leverage their idle storage devices, Crust creates a distributed file system that is more reliable, secure, and cost-effective. This decentralized approach addresses common issues associated with centralized cloud storage, such as service instability, high network bandwidth costs, and limited data transmission capacity.
Moreover, Crust's decentralized infrastructure supports a wide range of applications beyond storage. For example, in the realm of decentralized finance (DeFi), Crust can provide the necessary storage and computing power to support secure and efficient transaction processing. Additionally, in industries such as healthcare and supply chain management, Crust's decentralized network can ensure data integrity and security while reducing costs. By combining consensus mechanisms with decentralized storage and computing, Crust enables the development of innovative applications that benefit from the enhanced security, efficiency, and accessibility of a decentralized ecosystem.
Tokenomics
The tokenomics of the CRU token are designed to ensure the sustainability and security of the Crust network. Initially, 20,000,000 CRU tokens were generated when the main network was launched. These tokens were allocated for various purposes, including community development (25%), ecological construction (10%), transfer to professional investment institutions (25%), rewarding the technical team (20%), and foundation reservation (20%). In addition to the genesis tokens, CRU tokens are generated as blocks are produced, with 5,000,000 CRU tokens allocated as rewards in the first year. This reward amount decreases by 12% each year until the inflation rate of the entire network reaches 2.8%. Transaction fees incurred within the network are burned, and the remaining tokens are allocated to the nodes that generate blocks, incentivizing participation and maintaining network security.
The CRU token serves multiple functions within the Crust network, enhancing its value and utility. These functions include staking to maintain the GPoS consensus, guaranteeing selected nodes, serving as collateral for resource services, paying transaction fees, purchasing resource services, and participating in on-chain governance through elections and proposal voting. The unique GPoS consensus mechanism combines elements of both Proof of Stake (PoS) and Proof of Work (PoW), requiring nodes to stake CRU tokens and provide storage resources. This dual requirement increases the difficulty of attacking the network, ensuring a high level of security. The tokenomics strategy of burning and staking CRU tokens helps manage supply and demand, thereby supporting the token's value within the ecosystem. As the Crust network expands and more users utilize its decentralized storage and computing services, the demand for CRU tokens is expected to increase, further driving its value.