SUI could become a competitor to Solana
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Johny Smith
2024/09/28
3 mins read
Specialists from K33 Research conducted a study and came to the conclusion that Solana currently remains the best alternative to Ethereum in terms of deploying smart contracts and decentralized applications. But, as experts emphasized, in the foreseeable future SUI will be able to displace Solana. This week, stablecoin issuer USDC Circle announced that the stablecoin will soon be deployed on the SUI network. This suggests that this blockchain is supported by large issuers.
It should also be noted that the SUI network is theoretically capable of processing almost 300 thousand transactions per second, while the Solana blockchain is 65,000 TPS. This suggests that SUI is more productive. Experts from K33 Research note: the SUI team was able to create revolutionary technology. However, it remains to be studied whether the blockchain can maintain the average transactions per second at a high level. The key problem, according to experts, remains the supply of SUI tokens.
The cryptocurrency appeared in the spring of 2023. Currently, 27% of the total coins are in market circulation.
If we talk specifically about Solanathen currently its market supply is estimated at 80% of the total issue. It is also worth noting that the SuiPlay0x1 gaming platform will be launched soon. The new product will go on sale approximately next year.
It will be distributed on the market with the native NFT Eternals. The product will allow players to receive various unique rewards. SUI is a high-performance layer 1 blockchain. It is focused on the rapid deployment of smart contracts and decentralized applications. The cryptocurrency is based on the Move language model, which allows for parallel transactions.
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