The post Sui-Powered Walrus Revolutionizes Decentralized Storage with Game-Changing WAL Token appeared on BitcoinEthereumNews.com.

Sui development team releases an independent PoS chain and introduces a new governance token, WAL. The decentralized storage network Arweave’s launch of its computing layer AO revitalized AR’s price, ecosystem, and interest—Sui’s decentralized storage network Walrus could have a similar impact. “Thriving like a walrus” and “Adaptable like a walrus” are slogans underlining Walrus’s reliability and usability as a storage protocol. Discover the innovations of Walrus, a decentralized storage network built on Sui, and its potential impact on the crypto landscape. Introduction to Walrus and Its Unique Features Walrus, a decentralized storage network classified as a “protocol platform” by Mysten Labs, is their latest innovation. Mysten Labs, comprising many former members of Facebook’s blockchain project Diem, positions Walrus as a reliable and adaptable storage solution, echoing the robustness of a “walrus”. Interestingly, while Walrus leverages Sui for coordinating storage space and metadata sales, users do not need to build their applications on Sui to utilize it. Moreover, a new governance token WAL will serve as the utility token, separating it from SUI. Comparison with Competitors Decentralized storage protocols typically fall into two categories. The first involves fully replicated systems like Filecoin and Arweave, ensuring file availability through multiple node copies—albeit at a heavy storage cost and vulnerability to Sybil attacks. The second category utilizes Reed-Solomon (RS) coding, dividing files into smaller slices. While efficient, RS coding presents computational challenges and necessitates complex recovery procedures when nodes go offline. Walrus addresses these issues with an innovative approach grounded in erasure coding techniques, promising faster and more secure data encoding and retrieval. Walrus’s Core Innovations Walrus’s primary innovation lies in its use of “RedStuff,” a cutting-edge 2D coding algorithm designed for Byzantine Fault Tolerance. This algorithm uses simple XOR operations for rapid encoding and decoding, distributing main and secondary slices across various…

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Filed under: News - @ September 25, 2024 6:19 am