This text presents a conceptual overview of what SUI can supply builders. If you want an article that dives into the extra technical facets of SUI, give me a observe 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 entire 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. As compared, TRON ranks second with $6.9 billion, adopted carefully by Solana at $6.3 billion.
With these metrics in thoughts, it’s arduous to think about there being a lot room left for profitable Layer 1 protocols. Nevertheless, if any have been to interrupt by means of, my decide could be the lately launched SUI protocol. Developed by Mysten Labs and leveraging the Transfer programming language, initially created for Meta’s Diem mission, SUI is carving out a definite identification, standing aside from extra established blockchains like Ethereum and Solana.
