What is Walrus (WAL)?

Walrus (WAL), is a decentralized data access and storage protocol built on the Sui blockchain. The project aims to securely, scalably, and cost-effectively store large-sized digital files — such as videos, images, PDFs, artificial intelligence models, and blockchain history — as an alternative to traditional centralized cloud solutions.

Who is the founder of Walrus?

Walrus (WAL) was established in early 2024, and the founder has not been disclosed to the public. The project has been initiated by an anonymous or pseudonymous development team and embraces a decentralization and community-focused development approach. Built on the Sui blockchain, Walrus aims to provide a scalable, secure, and efficient data storage infrastructure for the Web3 ecosystem. Although founder information has not been shared, the project continues to evolve with its open-source structure and participatory community.

How does Walrus work?

The system defines large-sized digital files such as (videos, visuals, artificial intelligence models, etc. as “blob” and distributes this data by breaking it into pieces using the erasure coding method to different nodes on the network. This ensures high data accessibility, low cost, and resilience against data loss. Walrus’s infrastructure allows developers to publish and manage data directly on-chain through smart contracts.

The economic infrastructure of the protocol is built on WAL token. Users pay with WAL to upload and store data; nodes are rewarded from these payments. The WAL token is also used to ensure the security of the network through staking and to vote on governance decisions.

Where is WAL Token used?

WAL token is the native crypto asset of the Walrus protocol and is at the center of the ecosystem’s economic and governance operations. WAL is not only a means of payment; it is also used as a versatile tool for network security, incentive systems, and community participation.

• Storage payments: Users make payments with WAL tokens to store their digital data on the Walrus network. These payments are directed to the nodes hosting the data and ensure the sustainability of the protocol.
• Staking and network security: WAL token holders can support nodes by staking their tokens or by running their own nodes. Nodes that operate correctly on the network are rewarded, while malicious behaviors are penalized. Governance )Governance(: WAL token holders can vote on changes to the protocol. This governance system; It allows the community to determine important decisions such as transaction fees, protocol updates, incentive models, etc.
• Incentive mechanisms: WAL is used to reward node operators and participants contributing to the protocol. This incentive structure helps keep the network active and stable.

Where to buy WAL Token?

You can use Paribu, Turkey’s leading technology company and premier cryptocurrency trading platform, to purchase Walrus )WAL( with Turkish Lira.

This article does not contain investment advice or recommendations. Every investment and trading action carries risk, and readers should conduct their own research when making decisions.