Rewrite Beyond Filecoin? In-depth Analysis of the Sui Team's New Protocol Walrus

Key Points Overview

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

• Walrus has garnered widespread attention in the decentralized storage market, mainly based on two advantages: ( cost-effectiveness and higher security; ) programmability of storage data achieved through the Sui network.

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

( The background and positioning of Walrus

Mysten Labs is venturing into the new field of the Walrus protocol after successfully launching the Sui network and the DeepBook protocol. Although there are high expectations for Walrus in the market, there are also some concerns. These concerns mainly stem from: the existence of numerous decentralized storage solutions in the market, many of which have not performed ideally; and worries about resource allocation, especially whether Mysten Labs will be impacted in advancing the new project due to continuing development of the Sui network.

This article will explore the structure of the Walrus protocol, analyze its differences from existing storage solutions, and examine the relationship between Walrus and the Sui network, with a focus on how Walrus integrates with the Sui architecture and enhances the overall ecological value.

)# The unique advantages of Walrus

Walrus has three main differences compared to existing storage models ###, such as a well-known storage network and a certain permanent storage network ###.

1. Storage Cost Efficiency

Walrus uses Red-Stuff encoding, demonstrating lower costs than other solutions, with efficiency reaching up to 100 times. Compared to some permanent storage networks that require full network data storage, Walrus only needs 4-5 times replication, significantly reducing replication costs. At the same time, by maintaining low replication costs, Walrus maximally reduces the probability of data loss, combining the advantages of other solutions.

In addition, as the number of nodes increases, Walrus only requires a single data transmission over the network, with each node storing a portion of the data, effectively reducing the burden on each node as the network grows. This structure makes Walrus's storage costs significantly efficient.

2. Programmability

The most notable feature of Walrus is its "programmability". Traditional storage is merely a simple data warehouse, while Walrus achieves programmable decentralized storage through the Sui network, giving stored data more functionality.

For example, when minting an NFT, the image file can be stored in Walrus, and its data object can be created on the Sui network, connecting to the NFT object. This addresses the traditional NFT "incompleteness" issue, making NFTs through Walrus true Web3 assets.

Additionally, as the data of Walrus can be stored as Sui objects and controlled through smart contracts, the contracts can transfer the stored data to other users or automatically change ownership. This gives the data in Walrus programmability.

In contrast, other protocols have very limited dynamic integration with on-chain applications. Although a well-known storage network has added some smart contract capabilities through a virtual machine, the ability to modify and control data remains limited, while Walrus is significantly superior to these protocols in terms of programmability.

3. Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to discard or modify data as needed. This feature is extremely important for institutions and businesses that need to store sensitive data or require the ability to modify/delete data.

It is worth noting that the data deleted in Walrus is separate from transaction data that is unrelated to data deletion, which remains unchanged and does not affect the integrity of the blockchain. This enhancement in practicality significantly increases the application potential of Walrus in traditional enterprises and Web2 companies.

(# The synergies between Walrus and the Sui network

Walrus should not be seen as diverting attention from Sui, but rather as a storage stack that enhances Sui applications. In fact, Mysten Labs was very focused on storage issues from the early design of Sui.

The concept of the storage fund in Sui addresses the issue of increased transaction fees that may arise from network growth. The fees submitted by users are divided into computation-related Gas fees and data storage fees. Storage fees are collected in advance and deposited into the storage fund, which is continuously allocated to validating nodes. Users can receive a refund of storage fees when they delete data.

This system creates economic incentives to reduce the capacity of distributed ledgers while addressing sustainability issues related to storage. Walrus enables programmability of data by storing large-scale data and managing it through objectification on Sui without directly storing it on Sui.

In addition, the use of Walrus will lead to more SUI being locked in the storage fund, creating a virtuous cycle and reducing the circulation of SUI. This is a positive signal for the Sui network and is expected to drive the Sui ecosystem towards a more diversified direction.

) The Importance and Potential of Walrus

Build a complete Web3 infrastructure

Mysten Labs is not just building a blockchain, but leading innovation in various fields, including execution, storage, consensus, and communication. The Sui network handles execution and consensus, Walrus manages storage, SCION is responsible for communication, and technologies like zkLogin manage a UI familiar to Web2.

If these plans are successfully implemented, Mysten Labs is expected to rewrite the existing Web3 paradigm. Walrus may be one of the most important protocols in this vision.

The broad application prospects of Walrus

Walrus is not limited to the Sui ecosystem and can be used by any third party, potentially becoming an alternative to existing storage protocols or other data availability layers. This availability extends the demand for SUI beyond the Sui network, with the potential to make SUI a more attractive asset by creating external demand.

Walrus's competitive advantages

Although it is necessary to be cautious when comparing the value of specific protocols, the future of Walrus looks optimistic for the following reasons: 1### The operating mechanism is more efficient than existing storage protocols. 2### can perform tasks that the existing storage protocol cannot complete. 3) has 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 is expected to become a leader in the storage field.

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