Sustained Advantages of Each Role of MEMO

Memo Labs
5 min readMar 24

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MEMO is a decentralized storage network designed to provide users with efficient, safe and reliable storage services. MEMO built the entire storage system based on three roles — User, Provider, and Keeper at the beginning of its establishment to achieve this goal. The three parties perform their duties, restrict each other, and jointly maintain the security and development of the MEMO network and community.

The User role is the most fundamental in MEMO network, and its main task is to purchase and use storage services. The Provider role provides storage space for the User and obtains the corresponding remuneration. The Keeper role is responsible for maintaining the security of the network, checking whether the storage space provided by the Provider is valid, and punishing violations. The cooperation of the three roles enables the smooth operation of the MEMO network and ensures the efficiency and security of storage services.

This article will introduce the basic functional characteristics of each role in combination with the market, and discuss the advantages of each role in sustainable development in the future. Through the analysis of the three roles, we hope to help users better understand the operation mechanism and future development plan of MEMO.

User

User is a very important role in the entire system. The basic function of User is to store data and transactions, which can be simply understood as ordinary users on the network. As the initiator of the transaction, User can keep various types of data

In the current blockchain market, the user group of MEMO is still in the expansion period, because the data storage needs of users will continue to grow, and the characteristics of safety, high efficiency and low cost of the MEMO storage system will help to further expand the user’s presence in the market. influence.

At the same time, when MEMO’s storage services are widely used in various basic Web3.0 scenarios such as blockchain games, NFT transactions, and decentralized social networking, and are compatible with EVM, these factors will also promote the continuous improvement of Users’ sustainable advantages.

With the continuous growth of the digital economy and the development and popularization of the MEMO network, the amount of user data stored on the platform and their value will continue to increase, and the value of these data will continue to increase. As the MEMO ecosystem continues to grow and more application scenarios and users join in, the value and experience of users in the MEMO ecosystem will also continue to improve.

Provider

The role Provider is mainly responsible for providing space pledges, which is the foundation of the MEMO ecosystem. Provider can lease its own storage space to User to obtain stable income. Provider is not just a simple seller, but a role that actively participates in the operation of the agreement. They obtain income by participating in pledges and providing liquidity.

Compared with other storage projects, the advantage of Provider is that the incentive effect of its reward mechanism is more significant, and providing liquidity and pledge is one of the basic application scenarios in the blockchain world, so its market demand is relatively high. In addition, the strong development team and highly autonomous governance mechanism of the MEMO community also make the continuing advantages of the Provider role more prominent.

At present, MEMO is still in the growth stage, and the corresponding number of nodes providing storage space is relatively less. However, with the development and expansion of the MEMO network, MEMO’s second-level optimization and high-security features will be a major advantage of the future secure storage sector. More users and companies paying attention to data security may choose MEMO for their Provide data storage services.

With the continuous development of the MEMO ecological network, the reward mechanism and economic model of the Provider role will continue to be optimized and become more flexible and diverse. With the continuous innovation of MEMO storage technology, the participation threshold for Providers will gradually decrease, making The idle space utilization rate of the Provider role has been greatly improved, and the above factors will bring more and more impetus to Provider’s continuous advantages.

Keeper

Keeper is one of the most critical roles in MEMO network. It is mainly responsible for providing security and storing information services for transactions in MEMO network. Unlike other roles, Keeper is characterized by the fact that it is not just a simple storage node, but a role that actively participates in protocol governance and security. The main way to obtain income is commission.

Due to the high degree of autonomy of the MEMO community, Keeper has more stable benefits and higher governance rights in the MEMO protocol. Compared with User and Provider, Keeper has lower scale requirements, so their benefits are relatively higher.

As a security guarantee in MEMO storage system, Keeper must exercise itssupervision and verification authority. With the development of the digital economy, security issues will also receive more attention, and Keeper’s voice and importance will continue to increase in the future market.

With the continuous development of MEMO, the governance and security functions of Keeper will also be continuously improved and optimized, so that Keeper can better adapt to market demand and the development trend of MEMO, thereby achieving greater sustainable advantages.

Sustainability Advantage

In the future development, the three roles of MEMO will continue to play their respective roles to achieve the goal of jointly maintaining the MEMO network and community. The User role is a user of the MEMO network, providing requirements and promoting the development of the entire system. Market expansion and technological innovation will increase the number of users and usage scenarios. Therefore, the user role will also get more development opportunities.

For the role of Provider, it will provide liquidity and space, and serve as the supply side of the market to provide support for User. With the growth of Users and the increase of scene requirements, the Provider role will have more opportunities to provide spatial services and obtain continuous benefits from them. At the same time, the technical threshold for the Provider role will gradually decrease, making it easier to meet storage needs and improve market competitiveness with the development and maturity of the decentralized storage market.

Finally, the Keeper role is used as a security guarantee in the MEMO network to ensure a stable operating environment for the system and high-quality services for other roles. With the expansion of MEMO network and application scenarios, the role of Keeper will become more important and necessary. At the same time, with the continuous development and innovation of technology, the Keeper role will also be continuously improved and perfected to improve its technology and service level and make greater contributions to the development of the MEMO network.

The three roles of MEMO will continue to play their respective roles in future development to achieve the goal of jointly maintaining the MEMO network and community. According to the basic functions and development planning of each role, they do have sustainable advantages and make greater contributions to the development of the MEMO network. Therefore, the future development prospect of MEMO is worth looking forward to. We believe that with the joint efforts of all roles, MEMO will play an increasingly important role in the decentralized storage market and provide users with more stable and secure services.

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Memo Labs

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