This text presents a conceptual overview of what SUI can supply builders. If you want an article that dives into the extra technical elements of SUI, give me a observe and keep tuned! Additionally, thanks in 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). Nonetheless, a extra telling metric can be Complete Worth Locked (TVL), which tracks the full 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 carefully 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 via, my decide can be the just 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 id, standing aside from extra established blockchains like Ethereum and Solana.
