Walrus Protocol: A new generation Decentralization storage solution created by the Sui team

After successfully launching the Sui network and DeepBook protocol, Mysten Labs is preparing to launch a new project - the Walrus protocol. Although there are many protocols in the decentralized storage market, Walrus has still garnered widespread attention, mainly due to two aspects:

1. Exceptional cost-effectiveness and security: Walrus is more cost-effective and secure than existing storage solutions.

2. Unique programmability: It enables the stored data to be programmed through the Sui network.

As one of the most advanced decentralized storage protocols, the future practicality and value of Walrus deserve close attention.

Advantages of Walrus

storage cost efficiency

Walrus adopts Red-Stuff encoding, showcasing lower storage costs than Arweave and Filecoin, with efficiency reaching up to 100 times theirs. Compared to Arweave, which requires full network data storage, leading to a maximum replication cost of 500 times, Walrus only requires a replication of 4-5 times. At the same time, Walrus significantly reduces the probability of data loss.

Walrus cleverly combines the advantages of Arweave and Filecoin, minimizing the risk of data loss while maintaining low replication costs. Furthermore, as the number of nodes increases, Walrus's storage costs do not grow linearly, which makes its storage efficiency far superior to that of Arweave and Filecoin.

programmability

The most notable feature of Walrus is its "programmability". Traditional storage is merely a simple data warehouse, while Walrus achieves programmable Decentralization storage through the Sui network, giving stored data more functionalities.

For example, when minting an NFT, the image file can be stored in Walrus and a blob data object can be created on the Sui network, linked to the NFT object. This addresses the traditional NFT "incomplete" issue, making NFTs true Web3 assets.

Another example is that the blob data of Walrus can be stored as Sui objects and controlled through Move smart contracts, allowing the smart contracts to transfer the stored data to other users or automatically change ownership. This programmability is a significant advantage of Walrus compared to Arweave and Filecoin.

Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to delete or modify data as needed. This feature greatly enhances the application potential of Walrus in traditional enterprises and Web2 companies, further increasing market expectations for its diversity.

Collaboration between Walrus and the Sui Network

Walrus should not be seen as decentralizing attention towards Sui, but rather as a refinement of the storage stack for applications on Sui. Walrus 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 symbiotic relationship between Sui and Walrus

Mysten Labs focused on storage issues during the early design phase of Sui and proposed a unique storage fund concept. The Sui storage fund divides the fees submitted by users into computation-related Gas fees and data storage fees. Storage fees are collected in advance and deposited into the storage fund, which continuously allocates to validating nodes.

This system has produced two effects:

1. Users can receive a refund for storage fees when they delete on-chain data, creating an economic incentive to reduce the capacity of the distributed ledger.
2. By pre-collecting storage fees and using them as rewards for future verification nodes, the sustainability issues related to storage have been addressed.

Walrus achieves data programmability by storing large-scale blob data and managing its metadata in an objectified manner on Sui. Ultimately, Sui and Walrus establish a symbiotic relationship, complementing each other's shortcomings and creating unique advantages.

The impact of Walrus on SUI tokens

When creating blob data objects in Walrus, SUI will be locked in the storage fund based on the object size. A portion of the fees can be refunded by deleting the data, but another portion will have a destruction effect, reducing the circulating supply. This means that the more Walrus is used, the more SUI will be locked in the storage fund, creating a virtuous cycle.

Future Prospects of Walrus

Walrus is not limited to the Sui ecosystem and can be used by any third party, potentially becoming a strong alternative to existing storage protocols or other DA layers. This wide applicability extends the demand for SUI beyond the Sui network, making SUI a more attractive asset.

The future development prospects of Walrus are optimistic for the following reasons:

1. The operational mechanism is much more efficient than the existing storage protocols.
2. Can perform tasks that existing storage protocols cannot complete.
3. A solid network and user base have been established through the Sui network.

If Walrus can become the representative storage protocol of Web3 as envisioned by Mysten Labs, it is expected to become a leader in the storage field.