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

Key Points Summary

• After successfully launching the Sui network and DeepBook protocol, Mysten Labs is preparing to launch a new project, the Walrus protocol.

• The two main reasons Walrus has attracted widespread attention:

1. Higher cost-effectiveness and security
2. Data storage can be programmed through the Sui network

• Walrus, as an advanced Decentralization storage protocol, its future practicality and value are worth paying attention to.

Walrus protocol background

Mysten Labs is venturing into the new domain of the Walrus protocol following the launch of the Sui network and the DeepBook protocol. Although the market has high expectations for Walrus, there are also some concerns:

• There are many decentralized storage solutions on the market, and many of them perform poorly.
• Worried that Mysten Labs will divert resources by continuing to develop the Sui network, affecting new projects.

Next, 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.

The difference between Walrus and existing storage solutions

Walrus has three main differences from the existing storage models ( such as Filecoin and Arweave ):

1. Storage Cost Efficiency

Walrus uses Red-Stuff encoding, achieving up to 100 times higher efficiency than Arweave and Filecoin, while significantly reducing the probability of data loss.

Walrus requires only one network data transmission, with each node storing part of the data, alleviating the burden on each node as the network grows. This structure makes Walrus's storage costs more efficient than Arweave and Filecoin.

2. Programmability

Walrus enables programmable Decentralization storage through the Sui network, giving more functionality to 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 to the NFT objects.
• Walrus's blob data can be stored as Sui objects and controlled through Move smart contracts.

In contrast, Arweave and Filecoin have very limited dynamic integration with on-chain applications.

3. Data Access and Deletion

Walrus allows users to discard or modify data when needed, which is different from Arweave and Filecoin. This feature enhances Walrus's application potential in traditional enterprises and Web2 companies.

Cooperation between Walrus and the Sui network

Walrus should be regarded as a storage stack that improves applications on Sui, rather than a decentralization of attention towards Sui. Walrus complements the Sui network from a storage perspective and actively influences the SUI token.

The symbiotic relationship between Sui and Walrus

Mysten Labs has been focused on storage issues from an early stage and proposed a unique concept of storage fund. The operation of the Sui storage fund is as follows:

1. User fees are divided into Gas fees and storage fees.
2. Collect storage fees in advance and transfer them to the storage fund
3. The storage fund continuously allocates funds to validation nodes.
4. Users can receive a refund for storage fees when deleting data.

Walrus enables programmability of data by storing large-scale blob data and managing objects on Sui, without directly storing the data on Sui.

Walrus makes SUI a deflationary asset

When creating blob data objects in Walrus, SUI will lock them in the storage fund based on the object size. Part of the fees can be refunded by deleting data, but a portion will be permanently removed, reducing the circulation. Walrus uses increases to reduce SUI circulation, forming a virtuous cycle.

Walrus: The Key Protocol of Sui

is not just about building blockchain

Mysten Labs' goal is to build a complete Web3 Decentralization infrastructure, including:

• Sui Network: Processing Execution and Consensus
• Walrus: Handling Storage
• SCION: Handling communication
• zkLogin, Stashed, SEAL, and KELP: Manage the familiar UI of Web2

Walrus is not limited to the Sui ecosystem

Walrus can be used by any third party and may become an alternative to existing storage protocols or DA layers. This expands the demand for SUI beyond the Sui network, making SUI a more attractive asset.

Can Walrus surpass Filecoin?

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

1. The operational mechanism is more efficient than existing storage protocols.
2. Can perform tasks that existing storage protocols cannot accomplish.
3. Already has a solid network and user base through the Sui network.

If Walrus becomes the representative storage protocol of Web3, it could potentially become the leading protocol in the storage field.