The buzz around the Sui blockchain is undeniable, with narratives flooding the market about its potential.
One of the most attention-grabbing claims is that Sui could be the “Solana killer.” But is it true? Let’s explore.
The Story Behind the Hype….
Recently, Sui blockchain has surpassed Solana in various key metrics such as TPS (Transactions Per Second), block finality, daily transactions, and more. These developments have fueled discussions about its potential dominance.
Here’s how Sui stacks up against Solana:
1. Transactions Per Second (TPS)
Sui blockchain achieves over 100,000 TPS, while Solana manages 65,000 TPS.
2. Daily Transactions
Currently, Sui handles approximately 58 million daily transactions, compared to Solana’s 35 million.
3. Average Gas Fees
Gas fees on Sui are as low as $0.0018, whereas Solana’s fees average around $0.0044.
These figures highlight why Sui is gaining so much attention.
What Makes Sui Blockchain Unique?
Let’s dive deeper into why Sui is in the spotlight.
Sui is a Layer 1 blockchain built using the Move programming language, a secure and efficient language developed by Meta’s Diem project.
The SUI token serves as the blockchain’s native utility token, with several compelling use cases:
1. Network Fees: SUI is used to pay for transactions on the network.
2. Validator Staking: Holders can delegate SUI to validators responsible for processing and executing transactions.
3. Native Liquidity: SUI provides liquidity to on-chain applications deployed on the Sui blockchain.
4. Governance: SUI token holders will participate in governance, influencing the network’s future development.
Parallel Processing: The Game-Changer
Sui’s ability to process transactions in parallel rather than sequentially makes it ideal for high-demand applications like DeFi, gaming, and NFTs.
This innovation significantly enhances scalability and efficiency.