This text presents a conceptual overview of what SUI can provide 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 on 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 might, to many, appear futile. Ethereum and Bitcoin alone attain a mixed market cap exceeding 1.5 trillion {dollars} (as of 10/23/24). Nonetheless, a extra telling metric can be Whole Worth Locked (TVL), which tracks the overall 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 intently by Solana at $6.3 billion.
With these metrics in thoughts, it’s exhausting to think about there being a lot room left for profitable Layer 1 protocols. Nonetheless, if any had been to interrupt by, my choose can be the just lately launched SUI protocol. Developed by Mysten Labs and leveraging the Transfer programming language, initially created for Meta’s Diem undertaking, SUI is carving out a definite identification, standing other than extra established blockchains like Ethereum and Solana.
