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Mysten Labs Unveils Decentralized Storage Protocol Walrus

Decrypt LogoDecrypt14h ago

Mysten Labs Unveils Decentralized Storage Protocol Walrus - Decrypt

Quick Summary:

Revealed at Sui Builder House in Singapore, the Walrus storage network will service blockchain apps and autonomous agents.

At its heart is a new data encoding algorithm, Red Stuff—leveraging a novel algorithm based on fountain codes, whose simplicity “allows for the encoding of large files in a single pass, resulting in significantly faster processing,” according to the Walrus whitepaper.

Its tokenomics are designed to allow Walrus’ storage nodes to “regroup and function,” as well as incentivizing participants to “work as a decentralized system,” Wu explained.


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Category: Crypto

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 18:01:04 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 22804124

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About Decrypt

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Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 4 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 10 hours ago

Coverage Areas: Estonia

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Publisher ID: #63

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