Walrus protocol: An important breakthrough in the Sui ecosystem

Mysten Labs is preparing to launch a new project, the Walrus protocol, following the Sui network and DeepBook protocol. Although there are many solutions in the decentralized storage market, Walrus has attracted widespread attention for two main advantages: first, it offers higher cost-effectiveness and security; second, stored data can be programmed through the Sui network. As an advanced decentralized storage protocol, the future practicality and value of Walrus are worth looking forward to.

What Makes Walrus Unique

To understand the necessity of Walrus, we need to explore its differences with existing decentralized storage solutions. Walrus has significant advantages in three main areas:

storage cost efficiency

Walrus uses Red-Stuff encoding, showing significantly lower costs compared to Arweave and Filecoin, with efficiency reaching up to 100 times theirs. Walrus combines the advantages of Arweave and Filecoin by maintaining low replication costs while minimizing the probability of data loss. Furthermore, Walrus requires only one network data transmission, with each node storing a portion of the data, alleviating the burden on each node as the network grows.

programmability

The most notable feature of Walrus is its "programmability". Traditional storage is merely a simple data warehouse, while Walrus enables programmable decentralized storage through the Sui network, giving stored data more functionality. For example, NFT image files can be stored in Walrus, and their blob data objects can be created on the Sui network, connected with NFT objects, solving the traditional NFT "incompleteness" problem.

Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to discard or modify data as needed. This enhances usability and increases application potential in traditional enterprises and Web2 companies. It is noteworthy that deleting blob data does not affect the integrity of the blockchain.

Walrus and Sui Network Collaboration

Walrus should not be seen as diverting attention from Sui, but rather as an enhancement to the storage stack of Sui applications. Walrus not only complements the Sui network from a storage perspective but also actively impacts the governance token SUI of the Sui network, making the two inseparable.

The symbiotic relationship between Sui and Walrus

Mysten Labs has been focusing on storage issues early on and proposed a unique concept of a storage fund. The Sui storage fund divides user fees into computation-related Gas fees and data storage fees. The pre-collected storage fees go into the storage fund, which continuously allocates to validating nodes. Users can receive refunds on storage fees when they delete data, creating an economic incentive to reduce the capacity of distributed ledgers.

Walrus achieves data programmability by storing large-scale blob data and managing it as objects on Sui. Sui and Walrus establish a symbiotic relationship, complementing each other's shortcomings and creating unique advantages.

The impact of Walrus on SUI

When creating blob data objects in Walrus, SUI will lock in the storage fund based on the size of the object. Some fees can be refunded by deleting data, but part of it will be permanently removed, reducing circulation. The more Walrus is used, the more SUI will be permanently locked, forming a virtuous cycle.

The Importance of Walrus

Build a complete Web3 infrastructure

Mysten Labs is not just building a blockchain, but is dedicated to creating a complete Web3 decentralized infrastructure. They are leading innovation in areas such as execution, storage, consensus, and communication, while taking into account users' inertia towards Web2 services. Walrus plays a key role in this vision.

The widespread application of Walrus

Walrus is not limited to the Sui ecosystem and can be used by any third party, potentially replacing existing storage protocols or other DA layers. This availability will extend the demand for SUI beyond the Sui network, making SUI a more attractive asset.

The potential of Walrus

Walrus has the potential to become a leading protocol in the storage field, as its operating mechanism is efficient and capable of performing tasks that existing storage protocols cannot accomplish. It has already established a solid network and user base through the Sui network. If Walrus can become the representative storage protocol of Web3 as envisioned by Mysten Labs, it may take a leading position in the storage sector.