Walrus protocol: A new choice beyond existing storage solutions

After successfully launching the Sui network and the DeepBook protocol, Mysten Labs is preparing to launch a new project - the Walrus protocol. Although there are several protocols in the decentralized storage market, Walrus has garnered widespread attention due to its cost-effectiveness, security, and programmability. As one of the most advanced projects among existing decentralized storage protocols, the future practicality and value of Walrus are worth noting.

The Uniqueness of Walrus

storage cost efficiency

Walrus uses Red-Stuff coding, demonstrating costs lower than Arweave and Filecoin, with efficiencies up to 100 times greater than theirs. Compared to Arweave, Walrus requires only 4-5 times the replication, rather than full network data storage. At the same time, the probability of data loss is significantly reduced. Walrus combines the advantages of Arweave and Filecoin, minimizing the risk of data loss while maintaining low replication costs.

programmability

Walrus has achieved programmable decentralized storage through the Sui network, giving stored data more functionality. For example, when minting an NFT, image files can be stored in Walrus and a blob data object can be created on the Sui network, linking it to the NFT object. This addresses the traditional NFT "incomplete" problem, making NFTs through Walrus true Web3 assets.

Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to discard or modify their data when needed. This feature greatly enhances Walrus's application potential in traditional enterprises and Web2 companies, increasing the market's expectations for its diversity.

Collaboration between Walrus and the Sui Network

Walrus should be regarded as a storage stack designed to enhance applications on Sui. It not only complements the Sui network from a storage perspective but also actively influences the governance token SUI of the Sui network, making the two inseparable.

The concept of Sui's storage fund addresses the issue of increased transaction fees that may arise from blockchain growth. Walrus achieves data programmability by storing large-scale blob data and managing its metadata as objects on Sui.

In addition, the use of Walrus will result in more SUI being locked in the storage fund, creating a virtuous cycle that reduces the circulation of SUI.

Future Prospects of Walrus

Walrus is not limited to the Sui ecosystem; it can be used by any third party and may even serve as an alternative to existing storage protocols or other DA layers. This availability expands the demand for SUI beyond the Sui network, potentially making SUI a more attractive asset.

Considering the efficient operation mechanism, unique features, and existing network foundation of Walrus, it is expected to become a leading protocol in the storage field. If Walrus can become the representative storage protocol of Web3 as envisioned by Mysten Labs, it will occupy an important position in the decentralized storage sector.