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Cryptocurrency News Articles

Walrus: Mysten Labs' New Decentralized Storage Network

Oct 18, 2024 at 09:12 pm

Data storage is a hot item in the crypto sector. Arweave and Filecoin are leaders in this crypto corner. However, Mysten Labs, the team behind Sui, is launching Walrus.

Walrus: Mysten Labs' New Decentralized Storage Network

Mysten Labs, the team behind the Sui Network, has unveiled Walrus, a decentralized storage network that will integrate with Sui’s unique storage options and cater to other chains.

Walrus is currently in its testnet phase, presenting an opportunity for a potential airdrop. Here's a closer look at Walrus and how to use the testnet.

What Is Walrus?

Walrus is a decentralized storage network being developed by Mysten Labs, the team behind the Sui Network. The network will have its own token, $WAL. The mainnet is expected to launch during Q1 2025.

? After a successful Devnet, Walrus’ public Testnet is now live! ? The Testnet launch includes:

▪️ API endpoints that support deletable blobs for better data management ▪️ A dedicated explorer, built by @staketab, enabling quick and comprehensive data search ▪️ A full… pic.twitter.com/EQjt7Z3Rmm

— Walrus (@WalrusProtocol) October 17, 2024

The primary motivation for developing Walrus stems from the inefficiency of Sui's current data replication model. In Sui’s setup, all validators must duplicate the complete dataset. Considering that Sui currently has around 100 nodes, this replication factor is quite high. In contrast, Walrus aims to provide a 4 to 5 replication factor, offering reduced storage costs.

Unlike most blockchains that store data as records, Sui and its version of Move language store data as objects. This approach inherently takes up more space but provides other advantages, particularly for NFT use cases. Walrus will facilitate faster data access and availability on Sui.

One of the key aspects of Walrus is its ability to handle "blobs" quickly and efficiently. Blobs (Binary Large Objects) are essentially unstructured data. They were first introduced in Ethereum to enhance scalability and efficiency, as part of the Dencun upgrade earlier this year. In this context, think of data files like video, images, and audio being stored as blobs. Walrus utilizes the "Red Stuff" method to split files into smaller parts and distribute them across various nodes. The following diagram illustrates the Walrus architecture.

Source: Walrus website

During the testnet, users can also delete blobs. Additionally, the $WAL testnet token is being introduced. The testnet launches with 25 community-operated storage nodes, with more nodes expected to join soon.

Akord and Decrypt are among the first users of Walrus. Akord, an app, API, SDK and CLI enabling permanent data storage, is moving all its data from Arweave to Sui’s Walrus. Read more about the reasons behind their move in their blog. Decrypt, a Web3 media outlet, is also migrating their entire content library to Walrus.

Now, since there’s a testnet, that also means there’s an airdrop opportunity. So, let’s dive into how you can use the testnet.

Walrus testnet is here, and offers new programmable storage features thanks to using Sui as a control plane:

– You can buy storage for X epochs, and then top up later. This is more flexible and capital efficient–even if you you want to store something forever, you can (e.g.)… https://t.co/pgYhewSAZF

— Sam Blackshear (@b1ackd0g) October 17, 2024

How to Use the Walrus Testnet

Here are some ideas on how to use the Walrus testnet. There’s a high probability that by taking part in the testnet tasks, you can qualify for the $WAL airdrop. So, here we go.

Staking $WAL

Source: X

Upload a Blob

You can also upload your own blobs. These can be pictures, files, or videos. So,

Now you uploaded and stored your file in a decentralized way.

See the picture below.

Use the Walrus Explorer to Find Your Blobs

So, now that you published your blob, you can also find it on the explorer. This is how to do it.

Mint a Flatland NFT

Flatland is a demo NFT project to showcase Walrus Sites. It’s an imaginary world where Flatlanders live. These are 2D inhabitants. They are NFTs and have different colors and number of sides. See the picture below.

So, go to the Flatlander site, connect your wallet, and mint the NFT. What makes them special is that each NFT is unique. They all have different colors and number of sides. You can see them in your wallet, as pictured above, or in the explorer. See the picture below.

Each NFT also has a unique site that’s hosted on Sui. However, when I clicked on the link, the page didn’t load. Nonetheless, it doesn’t

Original source:altcoinbuzz

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

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