From the evolution of storage solutions, Web3 applications are moving towards a clear layered model. Hot data is directly stored on-chain to ensure timeliness, while cold data that is infrequently accessed is moved to IPFS for storage, balancing cost and efficiency. But the real hurdle lies in the core data layer—those critical data that require privacy protection, transaction verification, and support for complex logic. This is precisely the area Walrus aims to tackle.

Once this hybrid architecture becomes mainstream in applications, the competitive landscape of the value data layer will gradually take shape. Projects that preemptively occupy this niche have obvious potential. In the long run, infrastructure-type players like these often build deeper moats.