New Partnership: YfDFI Finance x Crust Network
In this article we will look at our new partnership with Crust Network, discuss why have we chosen Crust and how they will add value to our ecosystem.
Secure and rapid data storage is one of the most crucial components of an efficiently-functioning ecosystem, such as that which YFD is in the process of constructing. Once complete, our ecosystem will provide users with a Decentralized Exchange (DEX), a SWAP protocol, Banking, Insurance and Investment Platforms, as well as Farming and Staking Platforms. The sheer quantity of data that will be held across our various platforms will be immense. Storing this data safely and in a manner in which it can be easily verified and accessed instantaneously could mean the difference between an acceptable platform and a first class, tier 1 platform.
Here at YFD, we are always on the hunt for the most neoteric and decentralized technologies on the market. Crust Network’s encrypted data storage technology makes them an obvious choice for integration. Crust is a Polkadot project with a cross-chain product. Gavin Wood, creator of Polkadot and Co-founder of Ethereum has publicly endorsed Crust Network. He regularly discusses Crust Network and their development at conferences and in interviews, as well as on Twitter.
Crust Network provides a decentralized storage network on the Web3 ecosystem. It supports multiple storage layer protocols such as IPFS, and exposes storage interfaces to the application layer. Crust’s technical stack is also capable of supporting a decentralized computing layer. It is designed to build a decentralized cloud ecosystem that values data privacy and ownership.
The Crust node supports the Trusted Execution Environment (TEE) technology, meaning it can check files locally on the node and periodically generates a workload report signed by the TEE. Crust’s local inspection method does not need to introduce the complex zero-knowledge proof system, which reduces additional computational costs and lowers thresholds. At the same time, Crust’s workload report is much smaller, which decreases the occupation of network resources. This makes their ability to store and access data both more economical and also much faster. Using their system will save us time, money and enable us to access user data quicker than any other project.
Crust’s decentralized storage solution fits perfectly with YFD’s fully-decentralized ethos, and will soon take its place within our ecosystem. This partnership marks yet another important step in our journey to becoming the first ever fully community-powered DeFi solutions project. True DeFi is coming, and it’s coming soon.
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