@Walrus 🦭/acc is developed by Mysten Labs and acts as a decentralized storage and data availability protocol on the Sui blockchain. The main goal for Walrus is to tackle challenges around scalability, cost, and fault tolerance, all common issues for decentralized storage networks.
The project is backed by some of the biggest VC’s around. During a recent $140 million funding round, the likes of a16z crypto, Electric Capital, and Franklin Templeton Digital Assets all invested into Walrus.
Its decentralized storage protocol works by distributing data across a global network of nodes, each competing for stake from users. By being built on the Sui network, Walrus aims to improve resilience and cost-efficiency while ensuring high availability for storing large, unstructured files.
The team behind Walrus has stated that the main use cases it has in mind for its technology are NFTs, decentralized social media, and large AI datasets.#Walrus $WAL
