Walrus protocol: A new storage solution for the Sui network

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 many protocols in the decentralized storage market, Walrus has gained widespread attention due to its cost-effectiveness, security, and programmability. As one of the most advanced projects among existing decentralized storage protocols, Walrus's future practicality and value are worth paying attention to.

Unique Advantages of Walrus

Compared to existing storage solutions, Walrus has significant advantages in several aspects:

storage cost efficiency

Walrus adopts Red-Stuff encoding, demonstrating storage costs lower than Arweave and Filecoin, with efficiency up to 100 times theirs. Walrus combines the advantages of Arweave and Filecoin through low replication costs and minimized data loss risks.

programmability

Walrus achieves programmable decentralized storage through the Sui network, granting more functionality to stored data. Smart contracts can directly reference or trigger data stored in Walrus, such as storing NFT image files in Walrus and associating them with NFT objects on the Sui network.

Data Access and Deletion

Walrus allows users to modify or delete their data when needed, a feature that greatly enhances its application potential in traditional enterprises and Web2 businesses.

The Synergistic Effect of Walrus and the Sui Network

Walrus does not detract from the focus on Sui, but should be viewed as a storage stack that enhances Sui applications. Walrus not only complements the Sui network from a storage perspective but also actively influences the governance token SUI of the Sui network.

symbiotic relationship

Walrus achieves data programmability by storing large-scale blob data and objectifying its metadata on Sui. A symbiotic relationship has been established between Sui and Walrus, complementing each other's shortcomings and creating unique advantages.

SUI deflation effect

When creating blob data objects in Walrus, SUI is locked in the storage fund based on the object size. This mechanism makes SUI a deflationary asset, and as the usage of Walrus increases, the circulation of SUI will decrease.

Future Outlook of Walrus

Walrus is not only a part of the Sui ecosystem but may also become a storage solution for other blockchains and applications. It has the potential to be a bridge connecting Sui with the broader Web3 ecosystem.

Considering Walrus's efficient operation mechanism, unique features, and existing user base on the Sui network, it is expected to become a leading protocol in the storage field and may even surpass existing mainstream storage solutions.