The Types Of Information Stored On Memo

Types Of Information Stored On Memo

As new technological innovations are created, there is the need for groundbreaking storage protocols that can stand the test of time. Memo is at the forefront of this development. With the coming of NFT and DeFi protocols, there is the need to shift from traditional storage systems that are fraught with issues. Memo is ushering in a new age of secure and affordable distributed storage systems that ticks all the boxes.

Memoriae (Memo) stores the information of everyone’s roles in the ecosystem in the blockchain. There are smart contracts created between participants to represent their relationships. Important data are stored on the Memo’s blockchain, while the ecosystem depends on upkeeping devices and edge storage devices to store other information and actual user data.

The type of information stored in Memo is of two types.

• Role information for the user, provider, and keeper. This type of information states who the user, provider, and keeper are, and their roles.

• Relationship information between roles, which includes relationship data between the provider and the user. User and provider interact a lot, and this interaction is documented in the storage smart contract. The relationship data concerning the keeper and user is documented in upkeeping smart contract.

What Is Memo?

Memolabs is offering decentralized storage systems globally, thereby solving the issues common in existing data solutions. Thousands of nodes and data stations are distributed globally, which offers security, reliability, and affordability to users. We designed our network architecture to meet the growing needs that large data is demanding.

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