Storing has become highly competitive in this track. Aside from the technical ceiling issue, the real test for projects lies in regulation.

Walrus's approach is a bit different—it has made compliance its core competitive advantage. Relying on the Sui blockchain's compliance framework, it integrates data privacy protection and on-chain compliance auditing, giving it a natural layer of protection compared to projects that only focus on storage scale.

How exactly does it do this? The Seal permission management feature is quite interesting. It allows fine-grained control over data access, addressing enterprise users' privacy concerns while meeting compliance requirements in heavily regulated fields like finance and healthcare. Currently, it has partnered with three Web3 compliance service platforms, exploring standardized solutions for compliant data storage.

However, Walrus's ambitions go beyond the Sui ecosystem. It is testing cross-EVM compatible chain storage interoperability, aiming to support unified storage and management of multi-chain data in the future, which can expand application scenarios. $WAL is not just a governance token in this context; it also plays a role in cross-ecosystem settlements. As the demand for compliant storage grows more urgent, this protocol's value capture potential is indeed promising—perhaps it is the core player in Web3 compliance infrastructure.