Decentralization in the Walrus network is not a slogan. This is the underlying mechanism in the network and how it makes its decisions. The Walrus network is a decentralized storage and data availability network that can reliably deal with a lot of data. The network does not depend on a single entity for the data but on a multitude of different entities.
This network is maintained by storage nodes. These nodes keep chunks of data, not files, making such a network more robust. If nodes go down, data is still available from the remaining ones. This is more reliable than file storage as it does not have points of failure and ensures that the data is always available, even under stress conditions. No single operator has the ability to manage data invisibly either.
The WAL token connects all users, node runners, and the network as a whole. WAL token holders can choose to stake or delegate their WALs to storage nodes. It allows users to join the network without having to create or manage the underlying infrastructure. Node runners receive rewards for being compliant, while delegators receive rewards in return. If a node fails to act in its duty, it may lose a part of its stake. This gives people reasons to behave in an honest manner.
The decision-making is done through on-chain governance. The WAL token holders get to vote on proposals related to how the protocol functions. The proposals could be involving changes in storage costs, reward sharing, staking policies, and even upgrading the protocol. The voting is driven by the stake in WAL, an individual with long-term stake has more voting power but anyone who exercises ownership over the asset can vote.
Another feature that Walrus exhibits is the use of time-based cycles, also known as epochs. In an epoch, the nodes that are actively running, as well as other parameters, may vary depending on the results of the governance votes. The network can thus adapt incrementally instead of having an overall centralized adaptation through periodic updates.
This model is currently being highlighted for the reason that Walrus has now moved from theory to practice. The developer preview has already stored a massive amount of information on the model to prove that the system is scalable. The provision of detailed documentation as well as a whitepaper has helped to shed light on how decentralization as well as the way that the network shall be governed.
For developers, this is important. A system of long-term data storage requires predictability and a straightforward set of rules. Walrus provides a system where nothing can be rewritten overnight. Updating happens through propositions that are voted on by the community.
In comparison with the traditional storage systems where the decision comes from the company boardroom, Walrus offers more power to the network itself. It is slower but more reliable too. As more and more individuals, nodes, and applications are added, the concept of having a decentralized notion of decision making turns into an experience by itself.
