Metaverse: rules, technology and revolution

The metaverse brings people and space closer together. Technologies such as blockchain, virtual reality, cloud storage and 5G build gateways to the metaverse, creating ways to interact with the virtual and the real, and are slowly changing our lives.

There are now many infrastructure projects taking shape, like the MEMO decentralized storage protocol, to build the foundations and establish the rules for the edifice that is the metaverse.

Establishment of rules

Uniformity

The metaverse should be a publicly accessible virtual world, connected to an open global network, not controlled by any corporation or individual, and accessible to all. The areas and spaces in the metaverse have the same widely accepted names and rules as the real world, and should not simply be called “metaverse”, because there is only one metaverse, and it is a unified world, not a space with similar characteristics to the metaverse. All blockchain projects will eventually become a piece of the metaverse world puzzle, functioning as decentralized storage in their own right, like the MEMO decentralized storage protocol.

Adaptability

As the audience for the metaverse is all of humanity, it must adapt to the creators and users of businesses, societies and schools. For many uses, the cost of creation and use must not be too high and it must provide simple, unrestricted access for all visitors, as the metaverse, once formed, must make significant economic sense. The problem is that the infrastructure of the WEB2 era is well established, whereas that of the WEB3 era is still in its infancy, so the other facilities of the metaverse must also be able to accommodate large-scale, high-frequency commercial applications, as is the case with the MEMO decentralized storage protocol.

Independence

The metaverse is a commonality in the development of digital commerce, regulated according to the common interests of all parties to provide maximum benefit to all those involved in its construction. Capital may drive technological innovation in the metaverse in an attempt to reap unfair benefits in return, but such an attempt is doomed to failure because due to the characteristics of Web 3.0, any so-called metaverse controlled by a single entity is inherently limited in size by limitations, they cannot provide a complete solution to all visitors’ needs. One company may be able to provide a portion of common features, such as MEMO’s data storage, which may expand over time to the entire metaverse ecosystem, but the MEMO decentralized storage protocol itself, as a decentralized project, is also governed jointly by the community.

With other blockchain-based infrastructures such as DeFi, DAO, decentralized storage and NFT already kicking off the metaverse deployment phase, and Web3 technology already laying the groundwork for the metaverse, the power of decentralization is at work and growing. Some of the early players may have established an advantage, but control of the metaverse space is independent and entirely in the hands of their exploitation stakeholders, who will create private spaces under their control and receive the appropriate protections

Openness

We can now see video and text on the web because we have a computer or mobile device connected to the internet, running software made up of web languages. None of this would be possible without the multiple standard protocols that define media formats and the rules of presentation.

However, in the metaverse, we need open, interoperable technologies to provide more reliable interaction, and while closed systems and proprietary technologies have short-term advantages, there are inherent limitations in scale. No single product or rule can solve all problems; open interoperable products are what will meet the needs of a more flexible metaverse, and an open ecosystem offers visitors more choices, which in turn means more content and more opportunities for tools and platforms, which will become a virtuous circle.

Rule building is a consensus that is constantly evolving, but the building of a metaverse world still requires the concerted efforts of the participants of this era, and there is still some way to go to scale up the specific practical facilities. As a project dedicated to decentralized storage research and development, MEMO’s considerations and measures for the infrastructure of the metaverse are being methodically promoted.

Infrastructure — MEMO Decentralized Storage Protocol

Data storage

The metaverse has a much larger data storage requirement than the Internet. Compared to the Internet program where databases are updated and deleted, the metaverse needs a decentralized storage network for secure and efficient data transfer in real-time, and data sovereignty, interoperability and security are also technical difficulties to be solved in the storage solution.

The MEMO decentralized storage protocol for the metaverse has various technical innovations such as efficient zero-knowledge proof, public validation mechanism to verify the validity of data, and RAFI repair mechanism to protect the security of data. On the one hand, the validity of the stored data is guaranteed while ensuring the security of this valid data, and on the other hand, the unique validation mechanism can effectively reduce the data storage costs of the metaverse.

In addition, the MEMO decentralized storage protocol’s worldwide network of nodes provides a large amount of effective storage space, and the edge storage technology optimizes nodes for different entrances and different geographies, ensuring that data interaction with the metaverse can reach seconds in any environment, while the innovative multi-level fault tolerance mechanism enhances the space utilization of the nodes.

Digital identity

In the metaverse, digital identity will replace the individual as the “passport” to the metaverse. The MEMO decentralized storage protocol, based on the distributed ledger and immutability of the blockchain, quickly digitizes and stores information about a person’s social relationships, financial, medical and professional data in a unique digital ID, linking personal information and historical behaviour with this digital identity to build a digital profile.

MEMO allows users to create multiple DIDs to respond to the needs of different scenarios to protect personal privacy, while the individual has absolute control over these DIDs.

The MEMO decentralized storage protocol’s aim is to solve the interoperability of metaverse identities and this action is supported by the fact that MEMO is compatible with any Turing-complete public chain, and that the interoperability of digital information across the network is the most important feature that distinguishes the metaverse from the Internet so that personal sovereignty and data privacy can be guaranteed.

Data Wallet

In the metaverse, behavioural data, created values, traded NFTs, etc. are all associated in a blockchain ledger, generating different private keys and hashes, and we need digital wallets as a connection channel to link our property in the face of a multitude of digital codes.

MEMO digital wallets are backed by a huge storage pool that associates digital assets such as digital collections, gaming assets and digital identities in nodes to individual wallets, allowing visitors to manage and trade their own assets by simply logging into the wallet. In addition, MEMO’s unique off-chain storage mechanism and low-threshold deployment environment for everyone to participate, separates assets and wallets hot and cold, with different wallets for different assets, further enhancing security, while these wallets and assets still end up at the same management address, ensuring absolute convenience.

Data storage, digital identity and digital wallets are the necessary prerequisites for the establishment of the metaverse. In addition, the scenario applications of MEMO in the mature environment of the metaverse include data middleware solutions to help link the Internet and metaverse channels, decentralized social solutions to bridge the communication between Web2 and Web3, layered scaling solutions to help relieve the pressure on the chain, etc. From concept to establishment and then to maturity, the metaverse is a complex and diverse scenario, and MEMO, as the infrastructure, will overcome more technical difficulties and help diversify the metaverse scenario.

Although the technology of the metaverse is not yet mature and it is still a rather vague concept for ordinary people, with the improvement of rules, the development of technology and more and more organizations entering, reality and virtual intertwine and this Internet change will be closer and closer to us.

About MEMO

MEMO is a blockchain-based decentralized storage protocol launched by the Memolabs team, which has been based on building Web3 and metaverse infrastructure, providing users and enterprises with ZB-level data storage services by organizing and managing edge storage device resources scattered around the world, creating a secure, reliable and highly available large-scale cloud storage ecology with economic benefits.

In terms of system architecture, the MEMO decentralized cloud storage system is designed with three roles — User, Keeper and Provider — and role information and role transactions are recorded and executed through smart contracts.

In terms of operation mechanism, MEMO has developed a secure, efficient and low-energy public verification mechanism, designed a flexible multi-level fault tolerance mechanism, and an original data repair mechanism, these technologies make MEMO a combination of security, reliability, low redundancy, low energy consumption and high scalability.

The new version of MEMO, MEMO Megrez Network, is now live, with important optimizations to contract management, contract scalability and economic models.

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Memo Labs

Memo Labs

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