Major Participants In the MEMO Ecosystem
Companies and individuals crave decentralized storage systems that solve the existing problems they encounter daily. Memolabs is offering them the opportunity to bask in this information. There are three major participants in the ecosystem and all of them have a symbiotic relationship. MEMO is bringing these three groups of participants together to benefit from one another.
• The User:
Those that fall under this group need MEMO storage service. The user wants to easily upload data on MEMO, without worrying that it will be corrupted. Before they can use the decentralized data storage services, they have to select the Providers they want and input the required service level. To do this, a smart contract has to be configured with the required terms. Every term is written into the smart contracts and followed thoroughly. Users will make use of MEMO tokens to pay for whatever service they enjoy in the ecosystem. They are allowed to easily download and manage their data from their device. User experience on MEMO is top-notch and seamless. Everything can be done from one’s dashboard.
• The Provider:
MEMO is bringing the owner of storage services to those that want to use it. Some companies have incredible storage services that they do not use. Leasing them out to those that need them is an awesome idea. The provider will offer users access to the storage service and earn from it. They also ensure that the data are preserved. To verify its service capabilities, the Provider utilizes smart contract parameters.
• The Keeper:
The third participant is the Keeper. The Keeper acts as an information intermediary and manager between the Provider and the User. They ensure that the interactions between both parties are cordial. Matching the aforementioned parties is the job of the Keeper. The duty of the Keeper is to ensure that Users are matched to the right Providers in the ecosystem, while ensuring that the Providers carry out their jobs.
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.
Official Website: http://www.memolabs.org
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