The news about grayscale lists and Google rumors indeed stirred the market, but if you only follow the trend and chase hot topics, you're more likely to fall into a trap. Recently, I chatted with several infrastructure developers and realized that the true investment logic isn't in these surface-level news—it's about what real problems the project can solve.

Take Walrus as an example. It appears to be a storage project, but in reality, it is doing something long overlooked in the DePIN track: bridging the gap between persistent storage and high-performance computing. Traditional decentralized storage solutions are usually good at cold data accumulation, but once high-frequency read/write and real-time response scenarios come into play, performance immediately falls behind. Walrus's approach is different—it deeply couples storage layering and compute scheduling at the architectural level. In other words, data is not only stored securely but can also be retrieved quickly.

This may sound like a bunch of technical jargon, but the results are very tangible. Just look at their latest testnet performance data: under high concurrency and continuous stress testing, response latency is over 40% lower than similar solutions. This is not just a competition of "storage capacity," but about building a high-speed data highway for decentralized applications.

Why is this so critical? Because applications like AI models, real-time rendering, and IoT data processing will inevitably require real-time capabilities and data stream processing in the future. On-chain applications that need to handle these scenarios must find infrastructure that can meet both persistent storage and high-speed read/write needs. Those quietly laying out infrastructure are not interested in short-term token price fluctuations but in this hard-to-imitate technological moat—whoever builds this infrastructure first will hold the key to future dApps and enterprise applications.

Currently, most competitors are still competing over the easily mimicked metric of "storage capacity." The real differentiation lies in the depth of architectural design—that's why some projects attract institutional attention, while others can only survive through marketing.