As a seasoned researcher with a keen eye for emerging technologies and a soft spot for decentralized systems, I find the recent developments surrounding Walrus Protocol particularly intriguing. Having closely followed the progress of web3 infrastructure projects, it’s exciting to see Mysten Labs take another significant step forward with the launch of Walrus Protocol’s public Testnet.
Palo Alto, United States, October 17th, 2024, Chainwire
Akord, a web3 platform for securing and managing data, also begins its migration to Walrus Protocol
Today, Mysten Labs, the firm specializing in web3 infrastructure, declared that after a successful trial phase, Walrus Protocol – a distributed storage network – is now live on its public Testnet.
Walrus Protocol, a data storage system, efficiently handles and transmits large files like multimedia content, audio, video, images, PDFs, among others, from both traditional web2 and decentralized web3 sources. These files, often referred to as ‘blobs’, are stored swiftly and effectively by Walrus due to its robust, scalable, customizable, and secure storage system. Sui serves as the foundation for Walrus’s public Testnet, supplying a specialized management infrastructure that allows Walrus to manage its global state and metadata. This setup ensures fast consensus, compatibility, and the potential to incorporate storage into smart contracts on Sui. The launch of Walrus’s Testnet will encompass:
- API endpoints that support deletable blobs, meaning data can be deleted.
- Dedicated Walrus explorer, allowing users to search data quickly and comprehensively, built by Stakestab Inc, maker of Suiscan & Blockberry API Platform.
- Full tokenomics ecosystem for the Walrus token, WAL, including epoch management, staking and unstaking, and rewards, as well as the WAL token faucet for developers.
- WAL staking app, developed by Mysten Labs.
George Danezis, Chief Scientist and Co-Founder at Mysten Labs, stated, “It’s become clear for quite some time that a decentralized storage network is essential for all types of networks, including L1s and L2s, to accommodate rich media and larger storage requirements for end-user applications. Walrus Testnet being activated marks a significant step in this process. As Akord and Decrypt initiate the transition onto Walrus, we’ll start witnessing how such a decentralized storage network can make various applications accessible to a broader audience.
With the debut of Walrus’s public Testnet, Akord – a secure platform for storage and collaboration, offering user-friendly, affordable, and decentralized solutions for any digital asset – has revealed its transition from Arweave to Walrus. Akord is slated to complete this migration within the coming week. This decision follows Decrypt Media’s recent announcement of their intentions to collaborate with Walrus, making them the first media outlet to store their articles and video content on Walrus.
In simple terms, the CEO of Akord stated that their goal is to establish a platform which enables individuals and businesses to have control over their data, allowing them to make it publicly available while tokenizing it or keeping it private with end-to-end encryption. This gives them full control of the keys and access. Moving to Walrus will provide our current customers with a more affordable, flexible, and efficient solution, and also helps us expand our mission on a much grander scale.
Utilizing a system that breaks down large data sets into chunks known as ‘Red Stuff,’ Walrus disperses sections of data files across multiple storage locations. This method ensures that even if certain parts become lost, the entire data can still be reassembled. By minimizing data redundancy, this approach allows for effortless expansion of the network while guaranteeing quick and dependable data access. Moreover, Walrus implements sophisticated storage validation through proofs and attestations, encouraging nodes to hold portions of each file. Rather than verifying individual files, Walrus checks the integrity of the entire storage node, thereby reducing the cost of proving data storage significantly.
In June 2024, Walrus – developed by Mysten Labs – made its debut on the Devnet platform. The whitepaper for this project became accessible by September 2024 and was introduced by Janet Wu, Product Platform Head at Mysten Labs, during the Sui Singapore Builder House Event. It is anticipated that the main network launch of Walrus will take place in 2025.
About Mysten Labs
About Walrus
About Akord
Contact
Lexi Wangler
Mysten Labs
lexi.wangler@mystenlabs.com
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2024-10-17 16:36