This technique is known as RLNC. It works quite well but it's not the only optimal erasure code, there are others. Unfortunately, RLNC implementations are pate

This technique is known as RLNC. It works quite well but it's not the only optimal erasure code, there are others. Unfortunately, RLNC implementations are patent-encumbered in the US, so good luck using this "simple" linear algebra.