This text presents a conceptual overview of what SUI can supply builders. If you need an article that dives into the extra technical elements of SUI, give me a comply with and keep tuned! Additionally, thanks to your consideration! I do know its worth, and it means the world to me that anybody would take the time to learn one thing I wrote. With that, benefit from the article 🙂
Releasing a brand new Layer 1 protocol in 2024 could, to many, appear futile. Ethereum and Bitcoin alone attain a mixed market cap exceeding 1.5 trillion {dollars} (as of 10/23/24). Nevertheless, a extra telling metric could be Complete Worth Locked (TVL), which tracks the whole financial worth of all belongings “locked” or actively used on a blockchain. Ethereum completely dominates this metric, with a present TVL of 46.8 billion. Compared, TRON ranks second with $6.9 billion, adopted intently by Solana at $6.3 billion.
With these metrics in thoughts, it’s laborious to think about there being a lot room left for profitable Layer 1 protocols. Nevertheless, if any have been to interrupt via, my choose could be the lately launched SUI protocol. Developed by Mysten Labs and leveraging the Transfer programming language, initially created for Meta’s Diem challenge, SUI is carving out a definite identification, standing other than extra established blockchains like Ethereum and Solana.
