A New Breakthrough in Decentralization Storage: Analysis of the Walrus Protocol

Mysten Labs is preparing to launch a new decentralized storage project - the Walrus protocol, following the release of the Sui network and DeepBook protocol. Despite the presence of various decentralized storage solutions in the market, Walrus has still garnered widespread attention for two main reasons:

1. Higher cost-effectiveness and security: Compared to existing storage solutions, Walrus has significant advantages in both cost and security.

2. Programmability: Walrus enables stored data to be programmable through the Sui network, greatly expanding the application scenarios.

As one of the most advanced decentralized storage projects, Walrus is worth paying attention to for its future practicality and value.

The Uniqueness of Walrus

Compared to existing decentralized storage solutions, Walrus has the following three notable features:

Higher storage cost efficiency

Walrus uses Red-Stuff encoding technology, achieving storage efficiency up to 100 times that of Arweave and Filecoin. Compared to the full network replication of Arweave, Walrus only requires 4-5 times the replication to significantly reduce the probability of data loss. At the same time, Walrus effectively alleviates the burden on each node during network expansion by utilizing a single network data transmission and partial storage at the nodes.

Powerful programmability

The biggest feature of Walrus is the programmability of data storage achieved through the Sui network. For example, image files of NFTs can be stored in Walrus, and corresponding data objects can be created on the Sui network, thus solving the problem of off-chain storage of traditional NFT metadata. In addition, smart contracts can directly operate on the data stored in Walrus, enabling automated data management. This programmability is not available in traditional storage protocols such as Arweave and Filecoin.

Flexible Data Control

Unlike other storage protocols, Walrus allows users to delete or modify their data when needed. This feature makes Walrus more suitable for institutions and enterprise users that require storage of sensitive data or need to update data frequently. At the same time, only the blob data is deleted, which does not affect the integrity of the blockchain transaction data.

The Synergy Between Walrus and the Sui Network

Walrus is not a project that decentralizes Sui network resources, but rather an important supplement to the Sui ecosystem:

1. Walrus addresses the burden of storing large-scale data on the Sui network while achieving data programmability through Sui.

2. The use of Walrus will lock more SUI tokens in the storage fund, helping SUI become a deflationary asset.

3. Walrus not only serves the Sui ecosystem but may also become a storage solution for other blockchains, thereby creating additional demand for SUI.

The Development Prospects of Walrus

Walrus has the potential to become a leader in the field of Decentralization storage for the following reasons:

1. The operating mechanism is more efficient than existing storage protocols.

2. It has unique programmability, capable of performing tasks that traditional storage protocols cannot achieve.

3. A solid user base has been established through the Sui network.

If Walrus can become the representative storage protocol of Web3 as envisioned by Mysten Labs, it is likely to occupy a leading position in the storage field.