With the evolution of Web3, the most common problem to be faced in the coming future is data storage. Walrus Protocol, with their operations on @walrusprotocol, is showing considerable promise in this regard. Walrus Protocol is aimed at optimizing the storage and retrieval of large-scale data on the chain in terms of performance, reliability, and efficiency, which is currently lacking in decentralized storage.
Contrary to most available solutions, the Walrus offers a new paradigm in data availability that can be easily adapted to the latest uses of the blockchain such as DeFi services, NFT marketplaces, gaming platforms, or AI-based networks. By compressing data with the aim of cutting down on redundancy while still ensuring the security of the data, the Walrus can significantly reduce the cost of storage while keeping the data available. This is especially important to developers who want to create robust dApps without having to worry much about the cost of infrastructure.
The native currency, WAL, is an important part of this ecosystem. It helps to incentivize usage and facilitate protocol-level operations. As the usage grows, the utility for WAL could increase along with the usage.
