Sui Team's New Protocol Walrus: The Potential Beyond FIL?

Key Takeaways

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

• The two main reasons Walrus has garnered attention are: ( cost-effectiveness and security that surpass existing storage solutions; ) the stored data can be programmed through the Sui network.

• As one of the advanced decentralized storage protocols, the future usability and value of Walrus deserve attention.

Background of Walrus Launch

After successfully launching the Sui network and the DeepBook protocol, Mysten Labs is venturing into a new area, the Walrus protocol. Despite high expectations, there are some concerns, mainly stemming from: many decentralized storage solutions in the market have underperformed; worries that Mysten Labs may divert resources to develop the Sui network, affecting the advancement of the new project.

Next, we will explore the structure of the Walrus protocol, analyze its differences from existing decentralized storage solutions, and study the relationship between Walrus and the Sui network, focusing on how Walrus integrates with the Sui architecture and enhances the overall value of the Sui ecosystem.

( The difference between Walrus and existing storage solutions

Walrus has three main differences from the existing storage models ), especially Filecoin and Arweave ###:

Storage Cost Efficiency

Walrus adopts Red-Stuff encoding, exhibiting lower costs than Arweave and FIL, with efficiency up to 100 times theirs. Compared to Arweave, Walrus only requires 4-5 times replication instead of 500 times. At the same time, the probability of data loss is significantly reduced.

Walrus addresses the drawbacks of Arweave and Filecoin. Arweave has a low probability of data loss but high replication costs; Filecoin offers relatively cheap storage based on demand, but low-cost options may increase the risk of data loss; whereas Walrus minimizes the probability of data loss while maintaining low replication costs.

In addition, Walrus only requires one data transmission over the network, with each node storing part of the data, reducing the burden on each node as the network grows. This structure makes Walrus's storage costs significantly more efficient than both Arweave and FIL.

Programmability

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

For example, when minting an NFT, the image file can be stored in Walrus, and its blob data object can be created on the Sui network, linked to the NFT object. This solves the traditional NFT "incomplete" problem, making NFTs through Walrus true Web3 assets.

In addition, since the blob data of Walrus can be stored as Sui objects and controlled by Move smart contracts, the smart contracts can transfer the stored data to other users or automatically change ownership. This is the programmability of data in Walrus.

In contrast, Arweave and Filecoin have very limited dynamic integration with on-chain applications. Although Filecoin has added some smart contract capabilities through FVM, the ability to modify and control data is still limited, and Walrus clearly excels in programmability compared to these two protocols.

Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to discard or modify data when needed. This feature greatly enhances its application potential in traditional enterprises and Web2 companies, increasing market expectations for its diversity.

( The collaboration method between Walrus and the Sui network

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

The Symbiotic Relationship between Sui and Walrus

Mysten Labs focused on storage issues during the early design phase of Sui and proposed a unique storage fund concept. The Sui storage fund divides the fees submitted by users into Gas fees and storage fees, pre-collecting storage fees and depositing them into the storage fund, which is continuously allocated to validating nodes.

The on-chain data storage system of Sui produces two effects:

1. Users can receive a refund for storage fees when deleting on-chain data, creating an economic incentive to reduce the capacity of distributed ledgers.
2. Solve the sustainability issues related to storage by pre-collecting storage fees as future rewards for validation nodes.

Walrus achieves programmability of data by storing large-scale blob data and managing its metadata objectification on Sui, without directly storing the data on Sui. Ultimately, Sui and Walrus establish a symbiotic relationship, complementing each other's shortcomings and creating unique advantages.

Walrus makes SUI a deflationary asset

When Walrus creates a blob data object, SUI will lock it in the storage fund based on the size of the object. A portion of the fees can be refunded by deleting the data, but a part will have a destruction effect, permanently removing tokens and reducing circulation. Walrus uses the increase to lead to a decrease in SUI circulation, forming a virtuous cycle.

In conclusion, the emergence of Walrus is positive news for the Sui network, both from a network perspective and an asset perspective. It is expected that through Walrus, the Sui ecosystem will develop in a more diversified direction.

Walrus will become the most critical protocol of Sui

) is not just about building a blockchain

Mysten Labs aims to build a complete Web3 decentralized infrastructure. They lead innovations in execution, storage, consensus, and communication, while creating a user-friendly UI.

The Sui network handles execution and consensus, storage is managed by Walrus, communication is overseen by SCION, and the UI familiar to Web2 users is managed by zkLogin, Stashed, SEAL, and KELP. Mysten Labs aims not only to build a blockchain but also to create infrastructure for the new network.

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 other DA layers. This availability will extend the demand for SUI beyond the Sui network, with the potential to make SUI a more attractive asset by creating external demand.

Can Walrus surpass FIL?

The future prospects of Walrus are optimistic because:

1. The operational mechanism is more efficient than existing storage protocols.
2. Can perform tasks that existing storage protocols cannot complete.
3. Has established 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.

![Beyond Filecoin? Understanding the new protocol Walrus developed by the Sui team]###https://img-cdn.gateio.im/webp-social/moments-b3f215a1bb0b555f4ef52768e1cb5791.webp###