A recap of the Twitter space that MEMO participated in on 3rd April at the invitation of Arkreen

At 10 am on the 3rd, Memo had an in-depth conversation with Arkreen. The theme of this conference is A Future Decentralized Storage Network for DApps, Web3 and Metaverse Applications. Arkreen Network is a web3-powered digital infrastructure for globally-distributed renewable energy resources connection and monetization to boost carbon-reduction applications. MEMO is a brand-new blockchain-based large-scale and open-source decentralized cloud storage that integrates and utilizes edge storage nodes worldwide to provide users with secure and efficient storage services.

The following is a wonderful Q&A recap of this space.

Q： Could you share with us the Memo business model in terms of users and providers of the space?

A： The user wants to easily upload data on MEMO, without worrying that it will be corrupted. Before they can use the decentralized data storage services, they have to select the Providers they want and input the required service level. To do this, a smart contract has to be configured with the required terms. Every term is written into smart contracts and followed thoroughly. Users will make use of MEMO tokens to pay for whatever service they enjoy in the ecosystem. They are allowed to easily download and manage their data from their device. Everything can be done from one’s dashboard.

MEMO is bringing the owner of storage services to those that want to use it. Some companies have incredible storage services that they do not use. Leasing them out to those that need them is an awesome idea. The provider will offer users access to the storage service and earn from it. They also ensure that the data are preserved. To verify its service capabilities, the Provider utilizes smart contract parameters.

The third participant is the Keeper. The Keeper acts as an information intermediary and manager between the Provider and the User. They ensure that the interactions between both parties are cordial. Matching the aforementioned parties is the job of the Keeper. The Keeper must ensurethat Users are matched to the right Providers in the ecosystem, while ensuring that the Providers carry out their jobs.

Q： How does Memo differ from other decentralized storage solutions such as Filecoin or Arweave?

A：Filecoin and Memo are both decentralized storage systems. They share many similarities. For example, both systems are fundamentally built on blockchain-based storage sharing economy. They do not require any centralized servers but link to user nodes to provide storage space. Both systems build a series of encryption technologies, storage algorithm proofs, and earning mechanisms to ensure decentralization, trust and the user-provider fit during transactions. However, the two systems vary in the working mechanisms for storage sharing, technologies, and rules used in development and application. Specifically, differences exist in the following four aspects.

Differences in system architecture and earning mechanisms bring varying storage purposes and blockchain dependency.

The IPFS reward layer is where Filecoin is positioned more prominently. To generate blocks, it utilizes the computing capacity of the encapsulation space. To put it another way, the data-encapsulating provider may acquire the right to produce blocks with equivalent computing capacity. Many people use Filecoin to generate blocks rather than to store data because block generation requires data encapsulation.

Another aspect is that the most critical proof of storage and verification must be completed on the chain, subject to the Filecoin system design. The system consists of three roles: user, provider, and retriever. The provider can also retrieve data in the system, so the user and the provider are actual users of the system. This role definition challenges the storage verification on-chain.

Memo’s positioning is a blockchain storage infrastructure that can link any complete Turing public chain. In doing so, transactions can be made on-chain via smart contracts, whereas other functions off-chain. The MEFS incorporates three roles: the User, Provider, and Keeper.

Compared with the Filecoin system, three roles in the Memo system can fulfill their duties independently. The Keeper is unique in the system design and cannot be assumed by the Provider. The Keeper responds to important storage challenges and collects proofs of storage. To be specific, the Keeper regularly challenges the Provider to verify on-schedule storage. The role design can transfer the storage proof and verification off-chain without over-reliance on-chain. It can effectively improve the system processing capacity while ensuring credibility.

Differences in storage-proof mechanisms bring varying availability and communication overheads

Q: Could you explain what is Proof of storage for us?

A: Differences in storage-proof mechanisms bring varying availability and communication overheads.

Proof of storage is the most critical technology in a decentralized storage system. Filecoin proposes two proof mechanisms: Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt). The former requires the provider to prove that specific data are stored on its node. The latter is a constantly replicating collection of proofs factoring in the time element. Both proofs intend to verify effective data storage in a given time. The process of generating a replicate certificate is complex. It is essentially a data encoding process.

Filecoin encodes the data (hashing) and uploads it using one of the underlying IPFS technologies. However, encoding is a complex computing task that is time- and resource-consuming. For instance, it takes about one hour to encapsulate data in the smallest 32GB sector onFilecoin. Similarly, once data storage is complete, users must first unpack to access data. Both processes require equivalent resources and are immensely time-consuming, reducing the efficiency and availability of data reading and downloading on Filecoin.

Unlike Filecoin, the proof of storage for the Memo system is completed off-chain and can be verified in seconds. Off-chain is not the reason for its rapid verification. A new publicly auditable BLS-based signature method featuring privacy, batch auditing, completeness, and high efficiency holds the key to the answer.

When the user requests storage and gets a matching provider, the system will generate public and private keys, hand over the public key to the Keeper, and store the private key locally. Before uploading data, the system will segment outsourcing data and assign a number to each segment. The user will sign each segment and generate a verification label for each segment. Then data segments and labels will be sent to each provider. The Provider only needs to specify the segment verification code in each verification

Differences in fault-tolerance and repair mechanism bring varying system space utilization rates and reliability.

In addition, Filecoin uses a multi-copy redundancy mechanism. As long as one of the nodes is normal, then the user can get a copy. If any data node fails, the system will immediately repair the lost block and rebuild it in other nodes. However, the system reliability is limited for the lack of a repair mechanism.

Memo combines multi-copy and erasure code redundancy technologies. Based on the data volume and application, erasure codes are mainly used for large-volume data, whereas multiple-copy redundancy is used for small-volume data. the proprietary RAFI technology can accelerate data repair by quickly identifying invalid data blocks using either multiple-copy or erasure code redundancy mechanisms. Compared with ordinary data repair mechanisms, RAFI technology significantly improves reliability.

As the IPFS incentive layer, Filecoin can defend against multiple attacks with its complex storage proof mechanisms. However, it limits the storage purpose, space utilization, reliability, performance, and system scalability to a certain extent. Memo is committed to the blockchain infrastructure. We value flexibility and availability in our system design. The BLS signature-based public verification mechanism features safety, efficiency, and low communication cost. A multi-level fault tolerance mechanism and a data repair mechanism with core RAFI technology are developed on off-chain verification mechanisms. The combination of these technologies makes Memo a decentralized cloud storage project with high security, high reliability, high availability, and high scalability.

Q： Can you explain what is RAFI for us?

A: Based on the multi-level fault-tolerant mechanism, the MEMO decentralized cloud storage system has created RAFI technology, which can greatly improve the data repair ability, and then effectively improve the reliability, availability, and service capabilities of the system. Therefore, RAFI constitutes the core advantage of MEMO decentralized cloud storage.

Q: I am interested to know what technologies you use to build up this decentralized Memo storage thereby achieving a unique value proposition?

A: 1）Innovative architecture design

To maximize blockchain security and reliability in alignment with scalability and cost-effectiveness, MEMO only allows on-chain storage of most critical and stable data (e.g. system role profiles) and off-chain storage of non-critical information and user data (e.g. address mapping between users and data) to reduce burdens brought by extra on-chain transactions and storage of enormous address mapping information.

2）Smart contract settlement

Unlike the common block generation incentive storage, MEMO uses smart contracts to record transactions and settlements. In a peer-to-peer environment, MEMO deploys on-chain smart contract information and automates operations to minimize the reliance on the intermediary credibility and maintain decentralization. Meanwhile, it can effectively reduce blockchain storage computing and energy consumption.

3）Unique public verification mechanism

MEMO has developed a public verification method that can effectively reduce communication overheads and computing costs of verifying the proof. Public key holders can verify proofs in one second and generate certifications in seconds. The communication overheads can be significantly reduced through proof compression to the constant level.

4）Multi-level fault tolerance

Based on data volume and characteristics, MEMO adopts a fault-tolerant method that combines two fault-tolerant methods: multiple copies and erasure codes. The former is used for smaller metadata, whereas the latter is used by default for bigger data. Our User can choose from the two options. This flexible multi-level fault tolerance mechanisms can enhance space utilization and minimize system space as well as ensure our user autonomy.

5）Original data recovery mechanism

In terms of recovery mechanism, MEMO is powered by our proprietary RAFI technology on three dimensions: recovery parallelism, recovery volume, and recovery timing. Our RAFI technology optimizes classification and confirmation strategy can considerably reduce recovery time by promptly identifying at-risk data for improved security and reliability.

This is the main differences of unique value proposition used by MEMO.

Q: What does the incentive mechanism look like in Memo storage as compared to other decentralized file storage projects?

A: TOKEN will be circulated among the User, the Keeper, the storage nodes Provider, as well as developers, investors, and token holders. First of all, the User needs to purchase MEMO tokens to pay for storage service, the Keeper and the Provider need to purchase MEMO tokens as pledges before providing their service and earning incomes. MEMO tokens paid by the User for storage service will be sent to the Keeper and the Provider. Meantime, the Keeper, the Provider, and long-term holders will be given incentive awards for ecological growth by pledging MEMO tokens in the pledge pool. So the production and circulation of MEMO token is a cycle of consumption and reproduction, as storage gradually scales and token value appreciates. So this is the basic circulation of MEMO.

Q: That’s interesting. How do you achieve data reliability and integrity in your decentralized storage?

A: To solve security and privacy concerns and for the achievement of reliability and integrity, MEMO created the Risk-Aware Failure Identification, RAFI.

If edge devices are occasionally untrustworthy, there may be dangers that must be avoided for decentralized data solutions to function properly. Utilizing various confirmation periods for failed data blocks in strips with various risk levels is the basic principle of RAFI technology. Additionally, it provides a lengthy failure confirmation time for low-risk strips with few failed data blocks while providing a short failure confirmation time for high-risk strips with many failed data blocks. By more quickly locating failed data blocks in high-risk strips, RAFI increases data availability as well as reliability in the ecosystem. High-risk strips can now be readily repaired thanks to this procedure. The above causes a delay in the detection of failed data blocks in low-risk strips, which slows the low-risk strips’ repair. Due to the delay in unnecessary maintenance, this will reduce network transmission congestion. It guarantees that high-risk fixes are given precedence over less urgent ones.

Q: What techniques do you use to achieve high efficiency of data transfer and retrieval?

A: Retrieval is the technology and mechanism for searching data in the system. In the MEFS system, retrieval is mainly based on searching metadata stored on the Keeper nodes available for other nodes. But anyone can retrieve data as long as they can access metadata. Meantime, anyone can access data but not decrypt as data segments are encrypted and stored in different nodes. Therefore, anyone can access data but cannot decrypt data.

In MEFS, the system processes uploaded data by segmenting data and storing these segments in various nodes. The system downloads data by accessing data segments from scattered nodes and piecing data together.

Q: I can see your platform claim targeting metaverse data right? What other data also memo labs support or accommodate in your platform?

A: Memo provides extensible and adaptable storage layers to Web 3.0 to deal with the exponential growth in data volume and to support the Internet of value with data as a factor of production.

What’s more, MEMO also provides development support for dApps, improve data response speed and reliability.

Q: Data size is one of the critical aspects of decentralized storage. What techniques do you use to ensure memolabs achieve economies of scale for storing and retrieving the data?

A: Memo’s MEFS file storage system provides a high-scalability and low-cost decentralized storage method for the ZB-level data storage market. Upholding the sharing economy, MEFS utilizes blockchain technology as a credit intermediary, develops global edge storage spaces and reduces storage cost by integrating available resources to guarantee the high scalability and sustainability of the system with meager marginal costs.

Q: What blockchain technology do you use in memolabs storage, why this choice?

A: MEFS (MEmo File System) is a distributed cloud storage file system developed by Memo Labs in 2017. The design philosophy of MEFS is to use blockchain and smart contracts to build a decentralized storage network by connecting massive edge storage space worldwide. The system devises a data layering mechanism to store critical data (e.g. smart contracts and role portfolio) on blockchain and non-critical data on edge storage nodes. The system involves three roles: the User, the Provider, and the Keeper.

MEFS adopts a multi-level fault-tolerant mechanism design. Smart contracts, metadata, and other small volume and high access frequency data use multiple-copy redundancy technology, while large volume and low access frequency data adopt erasure coding technology by default. Erasure coding technology can improve data access and enhance system storage efficiency. MEFS verification mechanism: MEFS adopts a public verification mechanism. The system assigns a number to each user data segment and generates a verification code for each segment. It then sends the data segment and verification code to the storage node.

MEFS recovery mechanism: MEFS adopts two redundancy mechanisms, multiple copies and erasure codes. The system also features an original RAFI technology that rapidly identifies invalid data to repair data. As a core technology, RAFI can significantly enhance system reliability.

Q: Can you tell us Role Design in the Memoriae System? What is the keeper in your storage design approach and how does the penalty mechanism work?

A: The Keeper is the administrative coordinator in the system, who acts as the intermediary and manager of the information.

They are in charge of ensuring the access, reliability, and security of data in MEMO. The Keeper is in the role of maintaining data organizing knowledge and coming to a decision. The keeper validates its upkeep powers using the smart contract parameters, challenges the Provider, and comes to an agreement on the Provider’s dependability and availability as well as when to repair/recover damaged/lost data. The Keeper also calculates and comes to a consensus on the storage space and time usage, receives MEMO tokens as payment, and verifies the smart contracts between the User and Provider.

Q: Can you walk us through simple procedures of setting up a node using MemoLabs storage to participate in a deployed system.

A: 1. Open the official website and download the User client installation package

Unzip the installation package and follow the instructions to complete the three steps: create the wallet, top up the wallet and install the launch program. Once completed, start and stop the node via the start/stop shortcut generated on your desktop.

2. Please email us for top-up

Note: The wallet creation directory and the launch program installation directory must be the same

3. Start and stop user nodes via the shortcuts automatically generated on the desktop.

4. Log in to the User Web to perform file operations. The login address is displayed at the end of the installation document. The login account and password are recorded in the account file in the installation directory and can be viewed by yourself.

Q: In terms of MemoLabs data retrieval read/write times, is it possible to obtain a guaranteed maximum time frame to wait to retrieve data in a standard Web3 DePIN project platform?

A: DePINs are initiatives that use token incentives to encourage people to contribute to the construction of infrastructure that is already in demand in the real world. To give just a few examples, DePINs are now acting as the infrastructure for wireless networking, energy marketplaces, and computing services.

By performing the data flows associated with these services decentrally on blockchain nodes that produce tokens, DePINs decentralize infrastructure-based services. The calculations and transactions carried out by nodes are governed by smart contracts rather than any centralized administrative bodies, making the operation of DePINs trustless, decentralized, and entirely automated.

The market worth of each network and its services, as well as that network’s size and level of popularity, are reflected in the prices of the tokens that DePIN nodes issue. This correlation between token worth and network value, which increases as these networks expand, encourages additional investment in new nodes. In other words, as token prices increase, more people engage in and develop the network, which ultimately leads to a resurgence in token prices. The flywheel below illustrates the cyclical interaction between rising token value and network expansion.

MEMO is also working on the same principle that tokens are rewarded to the user and providers who are using nodes to store or share the data space.

Q: How MEMO works for NFTs storage?

A: METASTORAGE is also a dual-core system combining both IPFS with MEFS (Memoriae File System) to provide strong stability, ease of use, high scalability storage layer for metaverses and NFTs. With unique and patented data recovery technology RAFI and erasure coding redundancy technology, MEFS ensures that all data is not only secure but that it also won’t ever be lost!