New Opportunities for Individual Storage Providers
The demand for large data and its corresponding storage has exploded in recent years. These exponentially growing needs are a call to action in expanding our storage capabilities to match them. While storage systems have evolved and shown improvement in the last few decades, each new technology has been riddled with flaws, paving the way for new approaches to minimize each of their disadvantages. Enter Memolabs, ready to inject its innovative services into this ecosystem on a global scale. MEMO, short for Memoriae, is a highly cost-effective, secure, and reliable, large-scale distributed data storage system.
Centralized storage systems typically consist of massive data centers housing growingly complex servers. They are extremely expensive to build and maintain. Some of the more apparent costs involve the hardware and space requirements, but one must also consider the required security measures. Centralized data centers are vulnerable to attack and must also contend with other localized variables. The cost of entry into such a market allows only businesses with substantial funding to participate. Most people do not even consider attempting to gain access, knowing very well they are priced entirely out of that market.
The introduction of blockchain technology and a Proof of Work (PoW) consensus mechanism gave new mining opportunities to curious early adopters. With a low threshold of investment, anyone could earn income by validating blocks. In more recent years, however, cryptocurrencies such as Bitcoin have become so saturated with miners that the arbitrary mathematical puzzles miners must solve have increased in complexity. Currently, mining rewards are granted almost exclusively to mining pools with expensive, powerful computers, and the average person finds it nearly impossible to compete against them. As a result, their initial investment may now be futile.
Some of the early mining adopters that the big players have pushed out, and anyone else globally for that matter, now have new opportunities to earn income by leasing some of their unused storage space. The Memolabs system utilizes an individual provider’s edge devices to meet the user’s storage demands. A portion of the transaction revenue received from the user for using Memolab’s service passes onto the provider as income for leasing their storage space, giving rise to an entirely new realm of opportunities for anyone interested.
Social Media
Website: http://memolabs.io/
Telegram: https://t.me/memolabsio
Medium: https://medium.com/@memolabs
Twitter: https://twitter.com/Memo_Labs
Reddit: https://www.reddit.com/user/memolabs/
Facebook: https://www.facebook.com/labs.memo.75
GitHub: https://github.com/memoio/
YouTube: https://www.youtube.com/channel/UCx1yffIUrvKTHOTT3XU31zQ
