AU21 Capital Investment to Crust Network
AU21 Capital announce recent investment in Crust, a Decentralized Cloud firm that provides a compelling alternative to existing cloud storage, computing and distribution services. With the main goal is to fueling innovative projects that leverage blockchain technology to accelerate decentralization across a wide number of applications.
What is Crust Network?
The Crust Network addresses the shortcomings of traditional IAAS products by decentralizing the provision of computational resources and implementing a robust economic mechanism for supply incentivization. Individual suppliers, or “nodes” in the network, receive remuneration for their services on the network, and the underlying data is heavily encrypted with duplicate copies stored across multiple locations to ensure system redundancy and continuity. Resources are allocated between individual and enterprise users, and operations on the network are verified by means of parallel proof-of-work and proof-of-stake mechanisms.
What is AU21 Capital?
AU21 Capital was founded by Chandler Guo and Kenzi Wang in 2017 with the mission of backing the most promising blockchain entrepreneurs, and providing founders with resources and connections to succeed.
Chandler previously co-founded Gate.io, one of the top exchanges in Asia. He is also an early investor in blockchain projects and cryptocurrency exchanges including Ethereum, ETC, Metaverse, NEO, Qtum, Binance, and Huobi. Chandler started his career in the blockchain sector by operating one of the largest Bitcoin mining operations in the world.