Mysten Labs launches new protocol Walrus, challenging existing storage solutions

After successfully launching the Sui network and the DeepBook protocol, Mysten Labs is preparing to launch a new project - the Walrus protocol. Although there are many protocols in the decentralized storage market, Walrus has attracted wide attention due to its cost-effectiveness, security, and programmability. As one of the more advanced projects among existing decentralized storage protocols, the future practicality and value of Walrus are worth looking forward to.

Walrus's Unique Advantages

storage cost efficiency

Walrus adopts Red-Stuff encoding, demonstrating lower costs than Arweave and Filecoin, with efficiency up to 100 times that of them. Walrus combines the advantages of Arweave and Filecoin by maintaining low replication costs while minimizing the probability of data loss.

programmability

Walrus enables programmable decentralized storage through the Sui network, giving storage data more functionality. For example, when minting an NFT, image files can be stored in Walrus, and their blob data objects can be created on the Sui network, linking them to the NFT objects. This makes NFTs through Walrus true Web3 assets.

Data Access and Deletion

Walrus allows users to discard or modify their data when needed, a feature that greatly enhances its application potential in traditional enterprises and Web2 companies.

Walrus and Sui Network Collaboration

Walrus should be regarded as a storage stack designed to enhance applications on Sui. 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

The Sui network addresses storage challenges through its unique storage fund concept. Walrus, on the other hand, achieves programmability of data by storing large-scale blob data and managing its metadata as objects on Sui, without directly storing the data on Sui.

The impact of Walrus on SUI

When creating blob data objects in Walrus, SUI will be locked in the storage fund based on the size of the objects. This creates a virtuous cycle where increased usage of Walrus leads to a decrease in the circulation of SUI, making SUI a deflationary asset.

Future Prospects of Walrus

Walrus is not limited to the Sui ecosystem; it can be used by any third party and may even serve as a strong alternative to existing storage protocols. This availability will extend the demand for SUI beyond the Sui network, potentially making SUI a more attractive asset by creating external demand.

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

1. Its operating mechanism is far more efficient than existing storage protocols.
2. Can perform tasks that existing storage protocols cannot complete.
3. A solid network and user base have been established through the Sui protocol.

If Walrus can become the representative storage protocol of Web3 as envisioned by Mysten Labs, it has the potential to become the leading protocol in the storage field.