How do we solve the data storage needs of the ever expanding Metaverse?
Decentralized storage has the potential to be the next killer application of decentralized finance and blockchain technology, with dStorage systems providing key alternatives to more centralized storage systems run by major corporations like Apple and Amazon.
While the technology and its usage is becoming more popular by the day, MEMO noticed key problems with existing technology before deciding to enter the market.
With that being said, MEMO’s decentralized storage systems have some major advantages on the competition, in particular its capability of storing vast amounts of data, via its usage of edge devices.
In order to accelerate the growth of its usage of edge devices, MEMO also uses a Risk Aware Failure Identification (RAFI) system, which is designed to solve reliability and security issues common in said edge devices.
With that being said, while centralized systems have traditionally used huge warehouses to store big data, MEMO has been able to find a solution for decentralized systems.
Now, MEMO is developing its own workings on the Metaverse, whereby it will pioneer something called Metastorage. http://metastorage.org/
First things first, what is Metaverse and How Does it Related to Crypto Technology?
In order to understand Metastorage, we need to understand the concepts of the Metaverse. The Metaverse refers to a virtual world that runs in parallel to the physical world, and its emergence accelerates the growth of a world that exists totally online, a future world if you will.
The Metaverse has endless possibilities, in particular in relation to economic possibilities. Major tech companies such as Google and Apple have already realized the value of exploring the possibilities of a Metaverse, with both working on applications related to augmented reality. More recently, Facebook founder Mark Zuckerberg expressed interest in the concept, saying that he wants Facebook to become a Metaverse company.
The continued investment of time and funds into the Metaverse has been integral to the continued growth of certain sectors of crypto technology. For example, the vast growth of NFTs over the past few months can be attributed to firms, both big and small, seeking to accelerate their presence on the Metaverse.
So what is Metastorage?
MEMO’s Metastorage function will focus on storage needs for the wider Metaverse using something that they call a dual storage system, which will be based on the parallel model. In essence, what this will do is secure NFT assets and metadata for individuals and projects. The data and assets will be stored in a decentralized system on the Metaverse in effortless and efficient ways.
The benefits of this type of storage system are plenty.
• Stores data permanently using distributed storage verified queries
• Rapid Storage — replica queries with efficient verification of storage status
• Enhanced security for your data
• Low cost decentralized storage solution
• Build the next generation value consensus
Why Should You Want to Use It?
What exactly is the incentive for users who have never heard of the Metaverse? Well, for one, this system provides stability, utilizing IPFS and MEFS for our dual storage system. Users can preview media files at any time via the content-addressing system of IPFS, and their data will be stored in the highly reliable MEFS system, ensuring long-term and secure data storage.
It’s also a convenient storage alternative, which has a simple operation process and a low threshold for creators.
Metastorage is ultra-compatible and serves various categories of users and provides storage interface services to ensure the platform’s large volume of data storage.
Finally, Metastorage uses correction code and data repair technology to guarantee that their users’ data is securely stored.
Follow MEMO on Medium for more information on this exciting and innovative project, which is coming soon. http://metastorage.org/
