Momoka Hits 1M Txs At A Cost Data Storage Stakeholders Find Exciting

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Author: Adeola @ Contributor of PermaDAO

Reviewer: Xiaosong HU @ Contributor of PermaDAO

Momoka, a tool that is the product of a collaboration between Lens Protocol, a social protocol; Arweave, a decentralised storage network and Irys (formerly Bundlr), which makes transactions storage faster, to help scale the social protocol to any social networking use case has crosses one million transactions in six months of being launched costing $500.

At $0.0005 per transaction amounting to $500 for one million total transactions stored on Arweave, many in the business of data storage would consider it a cheap option compared to other storage options in Web3 and many in centralized Web2. Storage payment on Arweave is on a pay-once basis.

On many centralized storage, payment for storage is considered by many as expensive in the long run as it involves monthly or yearly subscriptions. It is also risky as data is not permanently stored making it vulnerable to being removed by the company if it decides to or compelled by statutory authorities to do so. For example, storing 428.36 TB on Amazon is estimated to cost $97,000 per month but on Arweave, it would cost a $ 1.5 million one-time fee.

Launched in April, Momoka was created to help Lens protocol increase capacity to the level where it is able to process transactions at what it calls hyper scale. The tool was also designed to support the next generation of Web3 social users.

Momoka does optimizes Lens Protocol’s operations by using Irys and Arweave storage network as data availability layer to process transactions off-chain. Not all transactions need to be on-chain, this is why Lens Protocol said it needs a data availability layer to ensure off-chain data is accessible and verifiable when needed for on-chain use.

“Data availability is crucial for internet artifacts (sic) we create daily and want to exist even when the underlying platforms might not be around anymore. Congrats to the lens community for crossing 1M Momoka txs,” Stani Kulechov, Lens Protocol’s founder wrote on X.

Lens Protocol gave hints of the plans it has for Momoka in the coming months some of which include processing comments for chain posts and support for any network.

“We’re extremely excited about the significant progress we’ve made with our infrastructure layer over the past year. But we’re just getting started,” Lens Protocol stated.

In the early stage of Arweave’s, Lens Protocol would not have found it to be a top choice for the collaboration to create Momoka as uploading transactions to the storage network had myriads of challenges including slow uploads and the use of AR token to pay for upload. In the Arweave space, Irys is regarded as being the project that scaled Arweave Protocol. It wraps transactions into bundles before presenting to the Arweave Network. This year, Irys demonstrated its ability to process 50,000 of transactions per seconds and upload to Arweave.

Last year, there were reports that it processed about 95 percent of transactions to the Arweave Network. Irys announced that it had crossed one billion transactions in just two years of being created.

Meanwhile, Irys has announced that Drip which is a collectibles application, now uses its technology. It said Irys’s provenance technology will enrich Drip’s NFT with provenance.

Irys, listing the benefits of the integration said provenance ensures that DRiP’s NFTs are stored forever. Strong provenance ensures that DRiP can mint NFTs without any limits on throughput. Strong provenance ensures that users can instantly retrieve these NFTs.

“We’re excited to empower DRiP. Provenance is the proof,” Irys stated.

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