Walrus Protocol focuses on the development of decentralized data storage, which is fundamental infrastructure for scalable decentralized applications (dApps) and on-chain services in Web3. The protocol, launched in 2024 and developed by Mysten Labs, provides a decentralized solution for data availability that allows developers to handle large volumes of data without using centralized servers.
Walrus Protocol enhances transparency, resilience, and censorship resistance, which are core values of blockchain technology. By focusing on data at the protocol level, Walrus provides more sophisticated use cases such as on-chain gaming, NFT metadata storage, and decentralized applications with artificial intelligence integration. Walrus is designed to handle large binary files, such as videos, images, and PDFs, in a secure, efficient, and cost-effective manner.
The token $WAL plays a vital role in the Walrus ecosystem, supporting the network and providing incentives for participants. It ensures stability and long-term resilience of decentralized services. $WAL is the payment token for storage in the Walrus protocol, where the payment mechanism is designed to support stable storage costs in fiat and protect against long-term price fluctuations of the $WAL token. When users pay for storage, they pay for data storage over a fixed period, and the prepaid $WAL is distributed over time among storage nodes and stakers as compensation for their services.
Overall, Walrus positions itself as a key infrastructure provider for the future of decentralized intelligence, making data reliable, valuable, and manageable.
