Walrus (WAL)

Decentralized storage protocol on Sui

Basics

• Based in:
• Started in / Announced on:
• Testnet release: set to launch in a few weeks (10-10-2024).
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

DAO

From Decrypt (1-10-2024), who uses Walrus:

"Stakers using [WAL] to vote on parameter adjustments. Its tokenomics are designed to allow Walrus’ storage nodes to “regroup and function,” as well as incentivizing participants to “work as a decentralized system."

Token

Utility

Staking and Governance

Technology

• Whitepaper or docs can be found here.
• Code can be viewed [insert here].
• Consensus mechanism: PoS
• Algorithm: Red Stuff
• Virtual Machine: MoveVM
• Development language used: Move

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From Decrypt, which uses Walrus (10-10-2024):

"[Apps building on Walrus] make use of Walrus’ “secure, decentralized blob store,” in which blobs, or binary large objects, are stored in a non-hierarchical architecture. “It takes very large chunks of data, megabytes up to gigabytes, and it doesn’t really care what they are,” said Danezis. It stores them by “taking each file and then splitting it and encoding it into many, many small chunks that it distributes across the storage nodes,” giving it resilience and the ability to reconstruct the file from available chunks by reencoding it. “It can store anything you want,” said Danezis.

Walrus’ secret sauce is its new data encoding algorithm, Red Stuff, an erasure coding algorithm that leverages fountain codes to chop big files into small chunks and encode them.

“Red Stuff is special in that it has some very key properties for what we're trying to do,” said Danezis. “First of all, it's extremely fast—you can basically encode gigabytes per second of data,” he explained. “The second property that it has is that it allows you to reconstruct missing chunks very efficiently,” he added, explaining that it uses a dual encoding scheme that “allows you to just request very small chunks from everybody else to reconstruct your own little chunk,” instead of the resource-intensive approach of downloading the entire file, reencoding it and obtaining any missing elements. “That is extremely efficient, which allows storage nodes to heal effectively on the cheap, rather than having to spend a lot of time to reconstruct what they should have,” he said." Walrus also leverages Sui’s blockchain to perform metadata management, storage node management and payments.

Staking

• From Decrypt (1-10-2024), a Walrus user:

"WAL’s staking model enables nodes to receive data in proportion to their relative stake, Wu explained, with storage prices set collectively by storage nodes and payments from users passing back to stakers in the form of staking rewards. Attestation sees storage nodes undertake “asynchronous data challenges” in order to ensure they retain data, with their stake being slashed should they fail the challenges."

Roadmap

• Can be found [Insert link here].

Usage

Projects that use or built on it

• From Decrypt (10-10-2024):

"The Walrus devnet hackathon Breaking the Ice saw over 60 submitted projects and 288 registered participants, with a $50,000 prize pool awarded to 10 winning teams. [Notable projects were] Walrus Pass, a ticketing and subscriptions app, and Link Forge, a social networking app."

Competition

Similar in goal and story to Nuffle, which spun out of NEAR.

Team, Funding and Partners

Team

• Full team can be found [here].
• Built by Mysten Labs

(:

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