MEMO Megrez Network went live on October 15
According to the official news, MEMO Megrez Network, a new generation of blockchain-based large-scale decentralized cloud storage system, is officially launched on October 15. MEMOLABS’ core technical team has worked for years to make MEMO the leader in the decentralized storage field. The Megrez Network is now one of the few decentralized storage networks that can support large-scale and frequent commercial applications.
What upgrades and optimizations have been made to the Megrez network:
Contract management optimization
-Enhanced group control, with the addition of a group management attribute field
-Lock mechanism has been added to make contracts more fine-grained
-Rewards can only be used to pay for file storage services
Contract scalability optimization
-Decoupling of core functional contracts to facilitate the upgrade of functional contracts
-Enhanced ease of use and combinability of storage
Economic model optimization
-Improved Provider role revenue ratio parameters
-Tiered data management, storing data up to ZB level
-Low power consumption for faster validation
-Original RAFI technology for higher repair performance
-Data read and repair response in seconds
-Highly secure and reliable data due to the combination of erasure code and decentralized storage
Computing, storage and networking are the three pillars of blockchain technology, and storage, as the second pillar, is of great significance to the development of the WEB3 world. On the one hand, as the Internet gradually transitions to WEB3, the demand for data storage is exploding, while the blockchain itself is not designed for storage. Not only is it expensive to store data on the chain, but network congestion leads to much lower availability. Thus increasingly highlighting the importance of decentralized storage and the huge business prospects for the future.
On the other hand, the core of WEB3 emphasizes “sovereignty”. In order to realize data sovereignty and application sovereignty, the way WEB3 applications are built is crucial, and the basic starting point is storage, and data can only exist in a decentralized storage network to ensure that users can have sovereignty. More and more WEB3 applications are now choosing decentralized storage, which makes them less susceptible to infringement and interference, and makes system data more secure and private, while also breaking monopolies and power. the development of WEB3 cannot be achieved without the support of storage, and decentralized storage is destined to be a major trend.
While there is no shortage of excellent storage projects in the current decentralized storage circuit, the MEMO decentralized cloud storage network, which makes use of global edge storage devices to provide users with more secure and efficient storage services, is truly decentralized.
From the underlying build to the application layer, the MEMO Megrez network reflects a high level of friendliness to business applications, capable of supporting high capacity, high availability enterprise-class commercial storage uses, able to provide secure and reliable cloud storage services for NFT, GameFi, DeFi, SocialFi and others, and compatible with WEB2.
MEMO has taken another unbelievably solid step forward in the field of encryption in 2022. The economic model has shown us the unlimited potential and dividends of the storage market, and head mining is arguably the most “cost-effective” way to participate in MEMO, a trillion dollar storage market worthy of our expectations.
We are privileged to witness a new era of storage.