Walrus, the emerging decentralized storage protocol, has recently attracted a lot of attention, mainly because it aims to solve the pain points in existing storage solutions—high costs and limited functionality.

From a technical perspective, this project indeed has some solid capabilities. First, its innovative coding technology can significantly improve efficiency and reduce costs, which is a real competitive advantage in the storage sector. Second, its features of "programmability" and "deletability" expand the scope of potential applications—this is different from the approach taken by Filecoin or Arweave.

The ecosystem moat should not be overlooked. Backed by Mysten Labs and the Sui ecosystem, it benefits from a mature technical team and an active community, which are significant advantages for a new project.

However, risks are also present. Competitors like Filecoin and Arweave have been around for years, accumulating users and network effects. As a cryptocurrency project, the token price inevitably follows overall market fluctuations. More importantly, Walrus is still in a relatively early stage, and the long-term reliability of its technology and actual market acceptance need time to be validated.

Overall, this is an innovative project, but there are many uncertainties on its growth path, so continuous observation is recommended.