Walrus Protocol: A Next-Generation Decentralization Storage Solution Beyond Filecoin?

Key Summary

• After Mysten Labs launched the Sui network and DeepBook protocol, they are preparing to launch a new project, the Walrus protocol.

• Walrus has attracted attention due to two major advantages: ( higher cost-effectiveness and security; ) the storage data can be programmed through the Sui network.

• As one of the advanced decentralized storage protocols, the future practicality and value of Walrus are worth paying attention to.

Background of Walrus Launch

After successfully launching the Sui network and DeepBook protocol, Mysten Labs is venturing into a new area, the Walrus protocol. Although there are high market expectations, there are also some concerns: there are already many decentralization storage solutions on the market, and there are worries about whether Mysten Labs will be affected in pushing forward the new project due to the continued development of the Sui network.

Therefore, we will explore the structure of the Walrus protocol, analyze its differences from existing solutions, and study the relationship between Walrus and the Sui network, discussing how Walrus integrates and enhances the value of the Sui ecosystem.

( The difference between Walrus and existing storage solutions

Walrus has three main differences from existing storage models ) such as FIL and Arweave ###:

Storage Cost Efficiency

Walrus uses Red-Stuff encoding, demonstrating lower costs than Arweave and FIL, with efficiency up to 100 times greater. Walrus requires only 4-5 times replication, while Arweave necessitates full network data storage, resulting in a maximum replication cost of 500 times.

Walrus combines the advantages of Arweave and FIL, minimizing the probability of data loss while maintaining low replication costs. As the network grows, Walrus effectively alleviates the burden on individual nodes, making their storage costs significantly more efficient.

Programmability

The most notable feature of Walrus is its "programmability". Traditional storage is simply a data repository, while Walrus achieves programmable Decentralization storage through the Sui network, giving more functionality to the stored data.

For example, NFT image files can be stored in Walrus, and their blob data objects can be created on the Sui network, connected with the NFT objects. This solves the traditional NFT "incomplete" problem, making NFTs through Walrus a true Web3 asset.

In contrast, Arweave and Filecoin have very limited dynamic integration with on-chain applications. Walrus significantly outperforms these two protocols in terms of programmability.

Data Access and Deletion

Unlike existing protocols, Walrus allows users to discard or modify data as needed. This enhanced practicality significantly increases the application potential of Walrus in traditional enterprises and Web2 companies.

( The collaboration method between Walrus and the Sui network

Walrus should be seen as a storage stack that enhances applications on Sui, not only complementing the Sui network but also positively impacting the SUI token.

The symbiotic relationship between Sui and Walrus

Mysten Labs focused on storage issues early in the design of Sui and proposed a unique storage fund concept. Sui divides user fees into computation-related Gas fees and data storage fees, collecting storage fees in advance and depositing them into the storage fund.

Walrus achieves programmability of data by storing large-scale blob data and managing it in an object-oriented manner on Sui, without directly storing the data on Sui. Sui and Walrus have established a symbiotic relationship, complementing each other's shortcomings and creating unique advantages.

Walrus makes SUI a deflationary asset

When creating blob data objects in Walrus, SUI locks in the storage fund based on the object size. A portion of the fees can be refunded by deleting the data, but a part will be permanently removed to reduce the token circulation. Walrus uses the increase that leads to a reduction in SUI circulation, forming a positive cycle.

Walrus will become the most critical protocol of Sui

) is not just about building blockchain

Mysten Labs aims to build a complete Web3 Decentralization infrastructure, leading innovation in areas such as execution, storage, consensus, and communication. The Sui network handles execution and consensus, storage is managed by Walrus, communication is managed by SCION, and the familiar UI from Web2 is managed by zkLogin.

Walrus is not limited to the Sui ecosystem

Walrus can be used by any third party and may even replace existing storage protocols or other DA layers. This expands the demand for SUI, making it a more attractive asset. Walrus is expected to become a bridge, extending Sui in various directions.

Can Walrus surpass FIL?

The outlook for Walrus is optimistic because: ### operates efficiently; ### can perform tasks that existing storage protocols cannot complete; ( has a solid network and user base through the Sui network.

If Walrus becomes the representative storage protocol of Web3, it has the potential to become the leading protocol in the storage field.

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