Crust Network acquires funding from DWF Labs

Crust Network, which is a decentralized storage network, has managed to acquire for itself seven-figure funding from DWF Labs. Through this, it will be possible for the company to carry out its plans of furthering its framework and overall footprint in terms of the decentralized storage arena. 

The obtaining of the funding amount coincides with Crust’s imminent deliverance of its EVM Storage. This is the latest technological development that backs Omnichain. The network has plans to utilize the latest capabilities for furthering the Crust Storage Protocol throughout the EVM ecosystem. This system is into incorporation of the Crust mainnet, as well as the Polkadot parachains and EVM contracts. This will make it possible to offer a narrowed-down, decentralized storage solution in the case of EVM-oriented blockchains. In turn, decentralized storage will become more available inside the EVM ecosystem. 

According to the CTO of Crust Network, Luke Fan, before this occurrence, it was possible for the network to offer cross-chain storage to various networks. Now, by taking on a fresh storage contract, as well as the Omnichain system, it will prove to be a landmark in terms of interaction effects. In his opinion, assistance from DWF Labs will be extremely beneficial for EVM Storage deliverance. 

As for the Managing Partner of DWF Labs, Andrei Grachev, he feels it is an opportunity for them to be able to share their expertise and the necessary funding amount for the deliverance of Crust’s EVM storage, which will help the enormous number of projects that are creating on Crust Network. 

Currently, there are 65 projects that are making use of Crust for storage, names like Uniswap and AAVE, and they have been delivered on the mainnet. Crust Network makes use of the XCMP protocol in the form of a para chain in the Polkadot ecosystem. This is for the benefit of projects like Moonbeam, Astar, and various others. 

Crust Network is a decentralized cloud storage protocol that has been created to encourage the building of storage orders, along with the utilization of storage nodes that are on the IPFS network. The entity is by far the biggest decentralized storage mechanism that is able to host multiple websites, along with decentralized applications, NFTs, and personal files. 

DWF Labs, on the other hand, is a digital asset market maker, along with being a Web3 investment company that backs portfolio businesses in relation to token registration, right up to OTC trading solutions. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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