Sui Team's New Protocol Walrus: The Possibility of a New Paradigm in Storage

Key Points Overview

• Mysten Labs launched a new project Walrus protocol, attracting attention after the Sui network and DeepBook protocol.

• Advantages of Walrus compared to existing storage solutions:

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

• Walrus, as an advanced decentralized storage protocol, has a broad application prospect in the future.

Background and Positioning of the Walrus Protocol

After achieving success with the Sui network and the DeepBook protocol, Mysten Labs has entered the storage field by launching the Walrus protocol. Despite high market expectations, there are also some concerns:

• There are already several decentralized storage solutions on the market, and their performance may not be ideal.
• Worry about the resource dispersion of Mysten Labs, affecting the development of the Sui network.

The following will explore the structural characteristics of the Walrus protocol, analyze its differences from existing storage solutions, and its relationship with the Sui network.

Unique Advantages of Walrus

1. High storage cost efficiency

Walrus uses Red-Stuff encoding, which has lower storage costs compared to Arweave and Filecoin:

• Efficiency can reach 100 times that of Arweave and Filecoin.
• The probability of data loss is significantly reduced
• The burden on each node is reduced during network expansion.

2. Data Programmable

Walrus realizes the programmability of data storage through the Sui network:

• Smart contracts can directly reference or trigger stored data.
• NFT images can be stored in Walrus and object associations can be created on Sui.
• Data storage can transfer or change ownership through smart contracts.

3. Data access and deletion flexibility

• Allow users to delete or modify data as needed
• Enhanced practicality for enterprise users

Walrus and Sui Network Collaboration

Walrus should be regarded as a complement to the Sui ecosystem:

• Sui has been paying attention to storage issues early on and designed the concept of a storage fund.
• Walrus has solved the burden of storing large-scale data on the Sui chain.
• Both parties form a symbiotic relationship, complementing each other's shortcomings.

The impact of Walrus on SUI token

• Using Walrus to store data requires locking SUI as a fee.
• Some fees will be permanently locked, reducing the circulation of SUI.
• The increase in Walrus usage will lead to a reduction in SUI circulation, creating a positive cycle.

The Importance and Prospects of Walrus

1. Walrus is an important part of the Web3 infrastructure built by Mysten Labs.

2. Walrus is not limited to the Sui ecosystem and can be widely used:

   • Can serve as an alternative to other storage protocols or DA layers.
   • Expanded the demand scope of the SUI token

3. Walrus has the potential to become a leading protocol in the storage field:

   • The operational mechanism is efficient
   • Functions beyond existing storage protocols
   • User base has been accumulated through the Sui network

The launch of the Walrus protocol demonstrates Mysten Labs' long-term vision. If the expected goals are achieved, Walrus is expected to reshape the Web3 storage paradigm and become one of the most critical protocols in the Sui ecosystem.