Crust provides a decentralized storage network for the Web3 ecosystem, supports multiple storage layer protocols including IPFS, and provides interfaces to the application layer. Crust
's technology stack can also support a decentralized computing layer. Crust aims to build a distributed cloud ecosystem that values data privacy and ownership.
On January 29th, Crust Network brand leader You An, Phala CEO Tong Lin, Darwinia CMO Bree, ChainX CMO Kristen, and MXC CEO Hu Xin participated in the BML LIVE live broadcast room. Regarding the importance of becoming a parachain to the project Where, regardless of whether the first batch of card slots can be accessed, what plans the project team will have next and other hot topics will be freely expressed in the live broadcast room.
The following is a review of the essence of this roundtable:
Graves: Hi everyone, I’m Graves, the host of the live broadcast tonight. Welcome to the BML LIVE live broadcast room. As usual, we first invite the roundtable guests to introduce themselves and their projects separately. At the same time, you can also talk about the results of the current project development?
Phala Tong Lin: Hello everyone, this is Tong Lin from Phala Network.
Phala Network is a privacy computing parachain on Polkadot. By releasing countless CPUs and applying it to the Polkadot parachain, it can serve other applications such as DeFi and data services on Polkadot. Phala-based applications pLibra and Web3 Analytics have received a grant from the Web3 Foundation.
We hope to expand the concept of "privacy protection" to "confidential protection". Privacy not only refers to the user's transaction privacy, but also to protect any confidential data in the smart contract from being leaked. With the current smart contract technology, all data must be fully disclosed, and we hope that "confidential smart contracts" can perform general calculations, but do not need to expose confidential data.
Last year, we achieved some results:
1. Testnet: POC-2 testnet launch (completion): more than 19,000 on-chain transactions, more than 1,000 miner nodes; launch of the POC-3 testnet (completed in the first phase): At the end of the event, the Vendetta testnet will again More than 1 million transactions, 9300+ daily active accounts, 1300+ miner nodes, and more than 440,000 computing power.
2. Products: We have successively launched dark wallets, completed the development of W3A confidential smart contracts, and completed the light verification of parachain nodes. There is also the first cross-chain demo jointly developed with Acala.
Currently, we are paying close attention to the parallel link entry of Rococo v1. Of course, the card slot auction is the highlight, and we are also actively planning.
Darwinia Bree: Hello everyone, this is Darwinia's CMO Bree.
Darwinia is the Golden Gate Bridge of cross-chain ecology, providing the safest heterogeneous chain cross-chain solution that does not rely on third-party multi-signatures, connecting heterogeneous chains such as Polkadot, Ethereum, and TRON, focusing on building the future blockchain Internet.
At the first Web3 summit last year, Darwinia was selected by the founder of Polkadot as one of the most noteworthy Polkadot ecological projects, and it was also one of the four projects written into Polkadot's Round up 2020 annual summary.
We have obtained three W3f grants, which have also been written into the Polkadot white paper. At present, our main applications are DeFi, NFT and games. We have also been awarded a medal by Parity because of our outstanding technical development capabilities.
In addition, Darwinia, as a key cross-chain infrastructure, has also been included in Cointelegraph's research report. Just yesterday, the Darwin Ethereum Bridge two-way transfer was officially opened.
MXC Hu Xin: Hello, everyone, I am Hu Xin, the CEO of MXC and the founder of MatchX Diesel IoT.
MXC is an end-to-end one-stop solution provider integrating blockchain, AI, and smart cities. Based on the technology of Low-power Wide-Area Network (LPWAN), it is committed to Build the world's first open and free new infrastructure network for the Internet of Things.
It is the world's first to actually apply the blockchain Internet of Things to smart city networks, and develops the blockchain-based open source Internet of Things transmission protocol MXProtocol (Extreme Domain Protocol), using low-power wide-area networks to solve two major pain points in the development of the Internet of Things. The competition of frequency band resources and how the data generated by the Internet of Things is distributed and shared, and the Substrate framework is used to solve the problem of cross-chain security and privacy sharing of data.
MXC not only operates stably in more than 60 countries and regions around the world, but also develops by leaps and bounds in China. In the future, we will use our own industry advantages to study the cutting-edge technology of the Internet of Things, and help new infrastructure to build a new smart city in the future for governments and enterprises. , Citizens provide end-to-end integrated operation services!
Crust Youan: Hello everyone, I am Youan, the brand leader of Crust Network.
Crust Network is a decentralized storage application based on Polkadot. Crust supports the IPFS storage layer protocol. After two years of development and testing, on January 19 this year, we ended the 50-day first phase of the incentive test network "Ark Project."
The first phase of the test network is mainly for the hardware test of the nodes. Crust issued a total of 320,000 CRU rewards to the nodes. A total of 600 addresses participated in the block production, with nodes in 16 countries around the world, the number of online nodes on the entire network exceeded 1,000, and the total computing power reached 94PB.
In the following February, Crust officially opened the Maxwell preview network. The Maxwell preview network is the same as the future main network, running the same mode, and long-term valuable network. We have opened up the role of storage users. Any company or individual can join the Crust network on the Maxwell preview network for storage testing. In addition, we have also opened up the role of currency holder guarantees.
In the Crust network, node mining does not need to completely buy coins for staking, but can accept guarantees from other CRU holders. Therefore, on Maxwell preview network, all CRU currency holders can earn income by staking for nodes.
ChainX Kristen: Hi everyone, this is Kristen of ChainX.
ChainX is the earliest online project of Polkadot ecology, dedicated to the development and research of BTC Layer 2 expansion, digital asset gateway and Polkadot secondary relay chain to realize cross-chain asset interoperability and lead the new direction of Bitcoin Cross-DeFi. ChainX is currently focusing on solving the problems of cross-chain security and decentralization of BTC and how to use the cross-chain BTC.
Aimed at how to solve the cross-chain problem of BTC safely and decentrally. ChainX adopts four implementation stages: 1.0 trust node custody scheme, 2.0 implements a trustless and efficient asset cross-chain system based on the X-CLAIM framework, 3.0 is a threshold signature custody scheme based on MPC, 4.0 decentralized autonomous control asset custody Program. After ChainX connects to Kusama, custody solutions will be launched one after another.
For the question of how to use BTC. First, ChainX will mirror the cross-chain method, that is, by using X-BTC to trade the synthetic assets of other cryptocurrencies, realizing the scenario of all cryptocurrency transactions on the same chain. This will be online within one or two months after Kusuma is connected. Secondly, ChainX will gradually list Bitcoin futures and other derivatives.
Q1.
What is the importance of becoming a parachain to the project?
Darwinia Bree: Parachain auction tests the short-term resources and community appeal of the project. It also allows us to break through the bottleneck of community development and further broaden the ecological boundary of the project.
Darwinia has been building a permissionless non-custodial bridging agreement, which is characterized by high efficiency, low cost, decentralized cross-chain assets, NFT transfers and other cross-chain services. The Darwinia bridge solution integrates technologies such as ultra-light client, zero-knowledge and optimistic game verification mechanism. The difference from other bridges is that the bridge has a higher quality and degree of decentralization, and can carry high-value cross-chain asset transfer.
The Darwin Network itself can operate independently. The main purpose of accessing the Parachain is to empower more Polkadot ecological projects and obtain cross-chain interoperability with heterogeneous chains outside Polkadot. Parachain projects don’t need to build bridges, just access Darwin Bridge Center, you can focus on your own projects. In addition, Darwin will soon be the third batch to connect to the parachain test network RoccoV1.
Crust Youan: For Crust, the core and most tangible benefit of joining a parachain is stable currency payments. Because Crust is an application, our customers are all individuals and companies, not just people in the virtual currency industry.
Everyone needs to pay if they want to use storage services, and Polkadot will introduce USDT or other stablecoins after it is officially launched in the future. At that time, users can directly use stablecoins to purchase Crust services. This is a project on the same track. Can't do it. This is also a crucial step for the implementation of the Crust application. In the future, Crust and Polkadot and stablecoins will be a win-win scenario.
ChainX Kristen: First of all, many Polkadot projects are waiting to be connected to the slot, because after being connected, they can finally go online. The sooner it goes online, that is, the earlier it is connected to the slot, the stronger the market effect of the project.
The second is the implementation of Polkadot's core function interoperability protocol. The term cross-chain has been through for many years. The first is the intercommunication before digital currency. These centralized exchanges, or many decentralized wallets, have been realized. After the emergence of smart contracts, the public chains led by Ethereum cannot communicate with each other, and Polkadot's cross-chain can realize message calls between smart contracts. The parachain connected to the slot can first verify this interoperability, which is still very meaningful. Of course, they are also the first people to take risks, so the responsibility of the project party is also very large.
Finally, projects like ChainX that were already online before Polkadot went online can promote project development more quickly.
Phala Tong Lin: Regarding the withdrawal of importance, I would rather say that it is an expansion of the application scope of Phala. One of the great features of Polkadot's ecology is that the project parties are complementary rather than competing. From the perspective of Phala's own business vision-to replace a better data system for the Web2.0 world, if it is to become a reality, it needs to:
1. Phala's own privacy protocol and computing power
2. Ethereum , Libra, EOS and other public chain developers use
3. Data storage: Filecoin bridge, or other third-party data protocols
4. Stable currency and DeFi facilities
I believe that as the card slot auction is officially completed in the future, Phala and other project parties will have richer cooperation possibilities, and the value of PHA will be further enhanced.
MXC Hu Xin: We can see many blockchain projects, they just want to put data on a single chain, which leads to limited data generated. MXC uses the method of combining LPWAN and Polkadot cross-chain mechanism. It does not depend on a certain chain, and the collected data can be used in any chain. As a parachain, MXC will be more flexible and developed.
The cross-chain of MXC Internet of Things data can avoid the need to collect the data of a certain chain and purchase the chain Token separately. Many IoT blockchains will take longer to use because of infrastructure problems, and the higher the cost and fuel cost of running the network.
The wireless connection data fee of MXC super node is free to use, which avoids the cost of data collection and chaining. At the same time, the network built by miners, mining machines and super nodes is open and free, and costs are only incurred when things are exchanged.
Q2.
Each project will have its own different gameplay to attract users. What kind of logic will each of you design based on?
Phala Tong Lin: First of all, we have a radical token distribution strategy.
As shown in the figure, Phala has achieved the goal of enhancing product/market fit, encouraging early full participation of the community, and ensuring the stable progress of basic development by allocating 80% of PHA to target users.
Phala adopts the design of privacy calculation and consensus layer separation. In the consensus, we use the NPoS consensus algorithm. The validator runs the node to participate in the production and confirmation of the block. The nominator can mortgage his token to obtain the right to nominate and nominate the validator he trusts. ,Earn rewards.
Phala hopes that 40% of the tokens will be mortgaged to the NPoS consensus system, and 60% of the tokens will be used for resource expenditure and market circulation. Phala expects an annual inflation rate of 5%. In the 40% mortgage rate, the average annualized return of mortgage tokens is 12.5%. In addition, in the part of TEE mining, Phala designed a decreasing release model (similar to Bitcoin halving).
Various ecological roles compete for rewards in a certain proportion, and adjust the release speed of rewards through the difficulty coefficient to achieve sustainable incentive effects. At the same time, 9% of PHA will attract extensive participation from Polkadot and the decentralized storage protocol community through LockDrop.
According to the above figure, it can be seen that the reward decay of PHA is non-radical design, and the reward release speed gradually decreases with time. We hope that the initial miners can enjoy an absolute input-output ratio as much as possible, and at the same time can make long-term plans for the future computing power and data support of the agreement.
Darwinia Bree: Darwin has developed the cross-chain game Evolution Planet, and launched the world's first NFT+Defi application in the game scene, called the melting pot Gamefi. The game NFT mining is different from the traditional defi. Evolution Planet provides users in the game. It has three characteristics for the immersive mining experience.
The first is the immersive and fun gameplay, which is different from the previous DeFi Yield Farming. Farming, harvesting, and farming are just a name and name. In the Evolution Planet game, users really own their own land, and can place game characters [Apostles] for mining, dig out elements from the land, and some elements have opened the Uniswap pool. In the latest gameplay, not only the apostle can mine, but also a new NFT mining tool: drill bit, which enhances the mining power. The drill bit is currently distributed for free by way of treasure box airdrop.
The other is innovation. Users can decide for themselves the mining capabilities of mining tools. Drills and elements can also synthesize new mining NFTs. The higher the level of the drill, the stronger the mining power, and users can give full play to their creativity. We look forward to the world's first game mining artifact created by users. In the future, Evolution Planet will open its own NFT market, and users will have more revenue imagination.
Finally, it embodies the core of blockchain games. Compared with the fragmented traditional game world, Evolution Planet has realized the connection of the game world. It supports Dego pickaxes to mine in our land, and Crypokitty can also be used as a game pet. In addition, compared to the blind gold of traditional games, Evolution Planet Gamefi game mining allows users to Play To Earn better.
MXC Hu Xin: We have a lottery to send Tesla, as well as a dual currency incentive mechanism. The maximum annualized income can reach 100%. This is very different from other projects.
Crust Youan: First of all, the design of our economic model considers a very long-term plan, in which slot auctions and future leases are within our design scope. We reserved 40% of the tokens for ecological development to participate in the relevant rewards of the slot auction. This amount is approximately 2 million CRU tokens.
The second point is that because the details of this slot auction have not yet been released, our plan is difficult to talk about. But Crust will design the reward mechanism and plan carefully, so that our community members, investors, and miners can maximize their benefits.
ChainX Kristen: First, consider the interests of users. The user needs to make a choice if he supports the project party to bid for the slot. The DOT I have is whether Staking Dot has a large return or the Staking project has a large return. In addition, the slot auction will cause dots to be unlocked on a large scale. If you choose Staking Dot, your income may also increase. So what users need to consider is the current token value of the project, and its predictability.
We first guarantee visible benefits. For the Kusuma slot, ChainX issued Sherpax as a parachain of Kusama. SherpaX's network token is KSX, and the number is 21 million. PCX users can get KSX airdrops at a ratio of 1:X. This X mainly depends on the amount of KSX actually spent in the auction. We will use the most tokens to bid, first guarantee the bid, and then guarantee the airdrop to pcx users. For DOT auctions, we try our best to ensure that it will not be less than the income of DOT pledge.
Another point is the project’s expectations. Users who support a project are more optimistic about the future development of the project. ChainX focuses on the Bitcoin track, making Bitcoin more valuable. We will mainly start from four aspects:
Bitcoin DeFi
derivatives market
leverages
the expansion of Layer 2 for traditional financial funds
Q3.
Regardless of whether the card slots can be accessed in the first batch, what plans do you have next?
Darwinia Bree: We will first participate in the Kusama auction. The Darwin network access card slot is to empower other parachain projects, which can actually run independently. The implementation of the WEB3.0 vision of the blockchain Internet requires heterogeneous chain cross-chain bridges. Connection is what Darwin has been working on. Regardless of whether the card slot can be accessed, Darwin will devote itself to the research of more consensus models, connecting Polkadot, Ethereum, Binance Smart Chain, HECO chain and other public chains, and providing bridging services for projects.
MXC Hu Xin: We are building the world's first permanently open and free smart city network, which will be permanently free for governments, schools, hospitals, and livelihood undertakings such as earthquake relief and epidemic monitoring, as well as connections within 40 kilometers of all users.
Everyone knows that games and anti-virus software were charged 10 years ago. You can refer to 360 and Shi Yuzhu’s giant network for industry reforms. Just like everyone can play games without buying a card and installing anti-virus software for free, our future will be a smart city network with all things connected, free for everyone to connect.
The industry of telecom operators has not improved in 30 years. Now telecom operators are still selling cards to sell traffic. In the near future, you can see that our MXC ultra-domain-level network is deployed, free and open to connect, so the source of revenue It is more diversified than selling traffic. For details, you can refer to the anti-virus software and game industry from charging to free models, which can make money to subsidize the income of miners. Smart city cross-chain must be the direction, and I believe we will be able to bid successfully.
Phala Tong Lin: In addition to participating in the Kusama and Polkadot auctions, we will gradually complete the following work this year:
Join Rococo test network, start Lira bridge, as well as prepare the main line online
start parallel to the main chain network
run WASM in Phala TEE in
on-line privacy and smart contract Web3 Analytics, and to achieve decentralized governance community
Create tools for TEE miners
and cooperate with 5 mining pools.
Let at least 10,000 TEE miners access Phala
and go online on Kusama dark pool.
Have 50 active developers.
Privacy cloud platform goes online.
Crust Youan: First of all, we have been closely following Polkadot's Technical Spec, and have been following up, trying to make it smoothly and smoothly for the first time after the parachain test network including the future Polkadot slot comes out. Of course, if you can successfully access the parachain, the stable currency payment I mentioned earlier will greatly help the Crust application to land. This help may be a milestone breakthrough.
Secondly, if the parachain cannot be accessed temporarily, it will not have much impact on the operation of our project. Crust is a storage application. We are our own public chain. Whether we can access Polkadot will not directly affect users' use of our application. It is just a matter of convenience. Crust will polish the application in the next Maxwell preview network, try to make the storage market complete, so that the application can be used by the majority of users as soon as possible. Here is also a small advertisement. Our first test "Ark Project" has attracted a lot of attention all over the world, and more and more people are joining the Crust network under different identities.
There are two major advantages of being our node. The first is that the TEE technology we use makes node configuration very simple. To put it bluntly, the mining machine is very cheap. The second is that in Crust mining, you do not need to buy coins for pre-collateralization. We designed the GPoS consensus and joined the role of Guarantor as a guarantor. Nodes can accept guarantees from other coin holders. This design is why so many Filecoin miners are now mining our mines. From the perspective of CRU currency holders, the CRU in your hand can earn revenue by guaranteeing the node.
ChainX Kristen: Our later plan is divided into two.
The first is the auction plan: we will adjust the auction strategy in a timely manner based on the first round of auction conditions, such as bidding strategies involving different times.
The second is the product plan: because we are an independent chain, regardless of whether we can be the first to access the parachain, we will proceed step by step to upgrade the BTC custody plan, mirror cross-chain, and Bitcoin derivative platform.
About Crust Network
Crust provides a decentralized storage network for the Web3 ecosystem, supports multiple storage layer protocols including IPFS, and provides interfaces to the application layer. Crust's technology stack can also support a decentralized computing layer. Crust aims to build a distributed cloud ecosystem that values data privacy and ownership.
The Crust Maxwell preview network, which strives to have the same functions as the Crust main network, is expected to be officially launched on February 4 and the decentralized storage market at the end of February. At that time, the storage market function will be integrated with the IPFS function of Crust Apps. Partners can scan the WeChat QR code at the end of the article for consultation.
Crust Network successively joined the Substrate Builders Program, Web3.0 Bootcamp, and obtained the Grant from the Web3 Foundation.
官网：https://crust.network/
Twitter：@CrustNetwork
Medium：https://medium.com/@crustnetwork
GitHub：https://github.com/crustio
Telegram：https://t.me/CrustNetwork
