As a seasoned analyst with over two decades of experience in the tech and crypto industries, I have witnessed the rise and fall of numerous blockchain projects. However, I must admit that Sui has managed to pique my interest like no other recently.
Over the past few months, the Sui blockchain network has seen considerable expansion and a persistent increase in the value of its own token, SUI. In a conversation with CryptoMoon, Ramani Ramachandran, who is both co-founder and CEO of Router Protocol, attributed this to an outstanding developer environment and a thriving community within the Sui ecosystem.
According to Ramachandran, Sui effectively merges the user-friendly Move programming language with a streamlined consumer interface, creating an enticing blockchain environment for developers. This was conveyed by the CEO in an interview with CryptoMoon.
“The interesting thing about Sui was the founders are not as visible, but they are doing something right because developers are talking about them. A ton of developers are talking about how Sui is great — Sui is amazing.”
Ramachandran went on to say, “The atmosphere and camaraderie here have been fantastic,” and he commended the Sui developer community for being a resilient and lasting ecosystem compared to other layer-1 projects that struggle after their token launch events.
Monolithic blockchains gain ground
According to a report published in October, the blockchain systems Sui and Solana (SOL) stood out among their peers, delivering better performance compared to other blockchain ecosystems, as noted in the month of September.
Sui experienced a 140% gain in daily active addresses during September. This increased network activity drove demand for the SUI token and culminated in Sui’s current market capitalization of $9.9 billion.
In early 2024, K33 Research published a report emphasizing Sui’s capacity to challenge Solana. The report also underscored Sui’s architecture as a significant advantage, setting it apart from other layer-1 blockchains that often rely on intricate programming languages and developer tools.
On November 22nd, asset manager Franklin Templeton teamed up with Sui for an exploration of creating applications within the motion-centric blockchain environment.
Due to Sui’s impressive capacity to handle numerous transactions quickly (referred to as high throughput) and its minimal delay (known as low latency), the Sui network stands out as an appealing choice for applications that demand frequent updates, like online multiplayer video games.
Mysten Labs, creators of the Sui blockchain platform, have revealed plans for a portable gaming computer, set to debut around 2025, specifically designed for both blockchain and conventional PC games.
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2024-11-23 00:48