Decentralized storage is currently in a three-way stalemate.

Filecoin has established itself with first-mover advantage and ecosystem accumulation, Arweave has carved out a market niche with its "permanent storage" differentiated label, and Walrus is disrupting from the cost perspective—pushing storage prices down to about $50/TB/year.

Honestly, this price point is indeed competitive. For small and medium AI teams and video applications that are highly sensitive to costs but generate large amounts of data, this represents real value. Technically, they can achieve this through optimization.

The question is, can the cost advantage translate into market share? It depends on whether they can establish a reputation for "reliable, high-cost-performance storage." Filecoin's node network and ecosystem depth cannot be matched overnight, and Arweave's positioning as permanent storage is also quite clear.

As a latecomer, Walrus must quickly turn its technical advantages into actual market share growth. Especially outside the Sui ecosystem, through cross-chain methods, how much storage demand can it attract? This is the key indicator to truly test whether its business model is viable.

In the fiercely competitive storage track, with rapid technological iterations, who will ultimately come out on top is still uncertain.