Project #walrus and its token $WAL
@Walrus 🦭/acc is a decentralized data storage platform built on the Sui blockchain, designed to enable data markets. It allows for data monetization, verification, and governance, making data reliable, valuable, and accessible.
Walrus focuses on blockchain applications, autonomous agents, and developers, offering efficient, resilient storage with advanced security mechanisms such as erasure coding to securely distribute data.
Main Utility of $WAL
1. Storage Payment: Used to prepay for storage on the protocol, with stable fiat costs to avoid price fluctuations.
2. Network Security: Delegated staking of $WAL to support the network (proof-of-stake). Nodes compete for stake and earn rewards for good behavior.
3. Governance: Holders can influence decisions, such as penalty adjustments based on stakes.
4. Deflationary Mechanisms: Partial burning of fees from stake migrations or slashing, incentivizing long-term staking and efficient nodes.
Advantages and Benefits of $WAL
📍High-speed network
📍Aligned security
