MEMO testnet “Megrez” global public beta is going to launch soon

Phecda, MEMO’s test net has been running since last May. Now there are over a thousand registered nodes and 48PB storage in total, initiating MEFS (Memo File System). We have iterated and updated the underlying technical architecture and application of our products based on feedback and comments. Megrez, a new version of MEMO’s test net will be officially released soon.

Megrez will continue to scale up role-based testing to further validate the system’s capacity and factors that affect massive data upload, data storage viability, and its economic models.

Compared with its predecessor Phecda, Megrez has upgraded its security and availability. In terms of security, Megrez has optimized the consensus mechanism for the Keepers and enables on-chain transaction data submission. In terms of availability, Megrez not only has improved the challenge mechanism but also developed a new micro-payment layer. In terms of application, Megrez has developed new application interfaces to meet the business needs of different partners.

● Security upgrade:

The Keeper role will reach a consensus on the challenge result through the Byzantine fault tolerance, which reduces the possibility of conspiracy attacks and improves the security and reliability of third-party challenges. At the same time, based on its layered structure, apart from on-chain smart contract storage, Megrez also enables on-chain transaction data submission between roles and makes transactions open and unchangeable, greatly improving transaction security. Transaction will not increase any extra burden on the system as transaction data are small in volume. Two optimizations further consolidate and upgrade system data storage security.

● Availability optimization:

To reduce communication overhead, Megrez has optimized the challenge feature to effectively reduce data load in the challenge process and boost the efficiency of challenge and verification. In addition, the system has developed a new off-chain micro-payment layer. It will greatly reduce on-chain transactions through certain access to credits, similar to a cheque. This micro-payment layer will complement contracts on the original channel, enriching system payment features.

● APIs:

Not long ago, MEMO reached strategic cooperation with Metis, Harmony, Bifrost, and other projects. MEMO will provide partners and their ecological projects with decentralized storage services. MEMO has developed easy-to-use APIs for developers to access MEMO protocol, historical decentralized storage data, NFT metadata, media data, dAPPS, and other types of data on the chain with one click.

The launch of Megrez opens a new chapter of Web3.0, which raises the bar for decentralized storage, not only on security and privacy but also on availability and scalability. Megrez will detect system overcapacity, improve storage interaction systems, enhance security and reliability, optimize availability, and provide richer APIs and features. All steps are foundations for MEMO towards “scaling up”.

Low Participation Barriers

Different from high requirements on large-scale cloud storage devices, MEMO adopts the decentralization and availability of edge storage devices to build a safe, reliable, and large-scale decentralized cloud storage protocol, providing a storage platform that everyone can join in.

About MEMO

Website: http://memolabs.org/

Twitter: https://twitter.com/Memo_Labs

Telegram: http://t.me/memolabsio

Medium: https://memolabs.medium.com/

Discord: http://discord.gg/YG4Ydv2E7X

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MEMO, is a new-gen blockchain decentralized cloud storage protocol. The mission is to build a reliable storage infrastructure for the Web3 era. www.memolabs.org

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Memo Labs

Memo Labs

MEMO, is a new-gen blockchain decentralized cloud storage protocol. The mission is to build a reliable storage infrastructure for the Web3 era. www.memolabs.org

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