The new protocol Walrus developed by the Sui team: Beyond Filecoin?

Summary of Key Points

• 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 attracted attention are: ( cost-effectiveness and higher security; ) data can be programmed through the Sui network.

• As one of the advanced decentralized storage projects, 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 field with the Walrus protocol. Although expectations are high, there are also some concerns, mainly stemming from: the presence of many decentralized storage solutions in the market, most of which have not achieved ideal performance; and concerns about resource allocation, fearing it may impact the development of the Sui network.

Therefore, we will explore the structure of the Walrus protocol, analyze how it differs from existing solutions, study the relationship between Walrus and the Sui network, and focus on how Walrus integrates with the Sui architecture to enhance the overall ecological value.

)# The difference between Walrus and existing storage solutions

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

1. Storage Cost Efficiency

Walrus uses Red-Stuff encoding, demonstrating lower costs than Arweave and FIL, with efficiency up to 100 times. Walrus addresses the high replication costs of Arweave and the potential data loss risks of FIL, maintaining low replication costs while minimizing the probability of data loss.

In addition, Walrus requires only one data transmission over the network, with each node storing a portion of the data, reducing the burden on nodes as the network grows. This structure significantly enhances the storage efficiency of Walrus.

2. Programmability

The most notable feature of Walrus is "programmability". It achieves programmable decentralized storage through the Sui network, endowing stored data with more functions. For example, when minting an NFT, image files can be stored in Walrus and a blob data object can be created on the Sui network, linking it to the NFT object. This resolves the traditional NFT's "incompleteness" issue, making NFTs true Web3 assets.

In addition, Walrus's blob data can be stored as Sui objects and controlled by Move smart contracts, making data ownership programmable and automated. In contrast, Arweave and FIL 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 FIL. This feature enhances Walrus's application potential in traditional enterprises and Web2 businesses.

(# The collaboration method between Walrus and the Sui network

Walrus should be seen as a storage stack that perfects Sui applications, rather than a distraction from Sui. Walrus not only complements the Sui network but also positively influences the SUI token, with both being inseparable.

The Symbiotic Relationship between Sui and Walrus

Sui has designed a unique storage fund concept to address storage challenges. The fees submitted by users are divided into Gas fees and storage fees, with the latter being allocated to the storage fund, which is continuously distributed to validating nodes. Users can receive refunds on storage fees when they delete data.

Walrus enables programmability of data by storing large-scale blob data and managing objects on Sui without directly storing the data on Sui. Sui and Walrus establish a symbiotic relationship that complements each other to create unique advantages.

Walrus makes SUI a deflationary asset

When creating blob data objects in Walrus, SUI locks into the storage fund based on the object size. Part of the fees is refunded through data deletion, but it also results in a destruction effect. The increase in Walrus leads to a reduction in SUI circulation, forming a positive cycle.

) Walrus will become the most critical protocol of Sui.

Mysten Labs is not only building a blockchain but also creating a complete decentralized infrastructure for Web3. Walrus handles storage and collaboratively builds a new Web3 paradigm with Sui network ### execution and consensus ###, SCION ( communication ), and more.

Walrus is not limited to the Sui ecosystem and can be used by any third party, potentially replacing existing storage protocols or DA layers. This availability will extend SUI demand beyond the Sui network and is expected to become a bridge to expand Sui in various directions.

The future prospects of Walrus are optimistic due to its efficient operating mechanism, powerful functions, and a solid network and user base. If it becomes a representative storage protocol for Web3, Walrus has the potential to become a leader in the storage field.