Walrus: The New Storage Protocol of the Sui Network

After successfully launching the Sui network and 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 widespread attention due to two major advantages: first, it offers higher cost-effectiveness and security, and second, it allows the stored data to be programmed through the Sui network. As one of the most advanced decentralized storage protocols currently, the future practicality and value of Walrus deserve close attention.

The Uniqueness of Walrus

To understand the necessity of Walrus, we need to analyze its differences with existing decentralized storage solutions. Walrus differs from the current storage models (, particularly Filecoin and Arweave ), in three main aspects:

1. Storage Cost Efficiency

Walrus uses Red-Stuff encoding, demonstrating storage costs lower than Arweave and Filecoin, with efficiencies reaching up to 100 times theirs. Compared to Arweave, which requires global data storage leading to replication costs as high as 500 times, Walrus only requires 4-5 times replication. At the same time, Walrus significantly reduces the probability of data loss.

Walrus combines the advantages of Arweave and Filecoin, minimizing the risk of data loss while maintaining low replication costs. Additionally, as the number of nodes increases, the storage costs of Walrus do not grow linearly like Arweave, because each node only stores a portion of the data. This structure makes the storage efficiency of Walrus significantly higher than that of Arweave and Filecoin.

2. Programmability

The most significant feature of Walrus is its "programmability". Traditional storage is merely a simple data repository, whereas Walrus 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 blob data objects can be created on the Sui network to connect with the NFT, solving the traditional NFT's "incompleteness" issue.

Another example is that the blob data of Walrus can be stored as Sui objects and controlled by Move smart contracts, allowing the contracts to transfer stored data or automatically change ownership. In contrast, Arweave and Filecoin have very limited dynamic integration with on-chain applications.

3. Data Access and Deletion

Unlike existing storage protocols, Walrus allows users to delete or modify data when needed. This feature enhances Walrus's application potential in traditional enterprises and Web2 companies, further expanding its market prospects.

The Collaboration between Walrus and the Sui Network

Walrus should not be seen as distracting attention from Sui, but rather as a storage stack that enhances 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 in the early design of Sui and proposed a unique storage fund concept. The fees paid by users are divided into computation-related Gas fees and data storage fees. Storage fees are collected in advance and allocated to the storage fund, which continuously distributes to validating nodes. If users delete data, they can receive a refund of the storage fees.

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

Walrus makes SUI a deflationary asset

When creating blob data objects in Walrus, SUI will be locked in the storage fund based on the size of the objects. Although a portion of the fees can be refunded by deleting data, a portion of the fees will have a destruction effect. As the usage of Walrus increases, more SUI will be permanently locked in the storage fund, forming a virtuous cycle and reducing the circulating supply of SUI.

The Future Development of Walrus

Walrus is not limited to the Sui ecosystem; it can be used by any third party and may even serve as an alternative to existing storage protocols or other DA layers. This availability expands the demand for SUI beyond the Sui network, potentially making SUI a more attractive asset.

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

1. The operational mechanism is 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 a leader in the storage field.