Crust Network

The need to expand blockchain infrastructures has been rising as the crypto space sees a rise in global <a href="https://blockchainreporter.net/adoption/" rel="noopener noreferrer nofollow">adoption</a>. Amid this, the importance of crypto investment firms cannot be overstated. In a significant development that underscores the growing importance of decentralized storage solutions, Crust Network, a leading decentralized storage network, has successfully secured multi-million dollar funding from DWF Labs. This substantial financial backing will empower Crust Network to further enhance its infrastructure and expand its operations, marking a significant leap forward for the decentralized storage space.<h2 id="header-0">A Timely Boost for Crust Network’s EVM Storage Launch</h2>In a significant stride for the decentralized storage sector, Crust Network, an innovative decentralized storage network, has successfully secured a seven-figure investment from DWF Labs.This financial injection comes at a pivotal juncture for Crust Network as it gears up to unveil its EVM Storage, a groundbreaking technological development that supports Omnichain. This new feature is set to revolutionize the way decentralized storage operates within the Ethereum Virtual Machine (EVM) <a href="https://blockchainreporter.net/glossary/digital-asset-ecosystem/" rel="noopener noreferrer nofollow">ecosystem</a>.Crust Network has been a trailblazer in the realm of decentralized storage, offering a robust platform that allows for the creation and utilization of <a href="https://blockchainreporter.net/glossary/decentralized-applications-dapps/" rel="noopener noreferrer nofollow">decentralized applications (dApps)</a>. Their pioneering technology provides a secure, private, and efficient alternative to conventional cloud storage, distributing data across numerous nodes within a blockchain network. This ensures data integrity and bolsters security by eliminating a central point of failure.Crust Network’s EVM Storage is a game-changer. It’s a new technological advancement that integrates the Crust mainnet, Polkadot parachains, and EVM contracts to provide a streamlined decentralized storage solution for all EVM-based blockchains. This module will allow Crust Network to extend the Crust Storage Protocol across the entire EVM ecosystem seamlessly, making decentralized storage more accessible and user-friendly.With the launch of the EVM Storage, Crust Network is poised to make significant inroads into the EVM ecosystem, bringing the benefits of decentralized storage to a wider audience. The financial support from DWF Labs will undoubtedly play a crucial role in this endeavor, providing the resources needed to realize this ambitious vision.Luke Fan, Crust Network CTO, commented, “It is fantastic to have the DWF Labs team focusing on the coming Crust ecosystem and lending their expertise and capital to the launch of Crust’s EVM Storage.”<h2 id="header-1">Crust Expands With 65 Web3 Projects</h2>Crust Network has become the storage solution of choice for a total of 65 <a href="https://blockchainreporter.net/glossary/web-3-0/" rel="noopener noreferrer nofollow">Web3</a> projects, including prominent names like Uniswap and AAVE. These projects have recently launched on the mainnet, leveraging Crust’s advanced storage capabilities to enhance their operations.Andrei Grachev, Managing Partner of <a href="https://www.dwf-labs.com/" rel="noopener noreferrer nofollow">DWF Labs</a>, said, “We are thrilled to support Crust’s vision of revolutionizing decentralized storage by providing a secure, scalable, and interoperable platform for data storage and retrieval across multiple chains. We are excited to bring our expertise and capital to the launch of the coming Crust’s EVM Storage and see great potential in the more than 150 projects currently building on Crust Network. We look forward to seeing Crust’s continued success within Web3 Storage.”Crust Network’s influence extends beyond these projects. As a parachain in the Polkadot ecosystem, Crust Network utilizes the Cross-Chain Message Passing (XCMP) protocol, serving a host of projects, including Moonbeam, Astar, Oak Network, and more. This integration marks a significant technological advancement for Crust Network, further solidifying its position as a key player in the decentralized storage space.Previously, <a href="https://crust.network/" rel="noopener noreferrer nofollow">Crust Network</a> was already capable of providing cross-chain storage for other networks, a feature that set it apart in the blockchain industry. However, the recent adoption of a new storage contract, coupled with the Omnichain mechanism, has elevated Crust Network’s capabilities to unprecedented heights.

Crust Network Lands Multi-Million Dollar Investment from DWF Labs to Expand Decentralized Storage Infrastructure

Table of Contents

BlockchainReporter

Other articles published on Jul 10, 2023

Shibarium's BONE Token Attracts Massive 145% Spike in New Addresses

Polygon (MATIC) Demand Surges: Will it Spark the Next Bull Run?

Shiba Inu’s Shibarium Set to Launch at Blockchain Futurist Conference in August, Showcasing Gover...

On-Chain Staking Arrives in Crypto.com App, Allowing Users to Earn Rewards

Validator Re-ignites LUNC $1 Campaign, Vowing to Burn 100% Commission

10,000% Rally: Don’t Miss Out on This Hot New Memecoin Surpassing Shiba Inu Phenomenal Surge!

Join our free newsletter for daily crypto updates!