Blockchain, as an emerging distributed database, effectively addresses the issue of centralized storage in IoT data, where storage capacity cannot match the explosive growth in devices and data scale, as well as the contradictions arising from centralized data management concerning data privacy and security concerns. To alleviate the problem of excessive pressure on single-point storage and ensure data security, a blockchain data storage method based on erasure codes is proposed. This method involves constructing mathematical functions that describe the data to split the original block data into multiple fragments and add redundant slices. These fragments are then encoded and stored in different locations using a circular hash space with the addition of virtual nodes to ensure load balancing among nodes and reduce situations where a single node stores too many encoded data blocks, effectively enhancing the storage space utilization efficiency of the distributed storage database. The blockchain storage method stores encoded data digest information such as storage location, creation time, and hashes, allowing for the tracing of the origin of encoded data blocks. In case of accidental loss or malicious tampering, this enables effective recovery and ensures the integrity and availability of data in the network. Experimental results indicate that compared to traditional blockchain approaches, this method effectively reduces the storage pressure on nodes and exhibits a certain degree of disaster recovery capability.