“The technical capabilities of Sui and the future release of the game console are able to create a competitor from the Solana network. This is stated in the K33 Research report. According to analysts, Solana is currently perceived as the best alternative to Ethereum “in the L1 wars”, but Sui may challenge this in time. “Since August, SOL/ETH is up 6%, while SUI/SOL is up 115% over the same period,” the report said. The experts explained such a big difference by the playing of “underestimation”. They acknowledged the presence […]”, — write: businessua.com.ua
The technical capabilities of Sui and the future release of the game console are able to create a competitor from the Solana network. This is stated in the K33 Research report.
According to analysts, now Solana is perceived as the best alternative to Ethereum “in the wars L1,” but Sui may challenge it over time.
“Since August, SOL/ETH is up 6%, while SUI/SOL is up 115% over the same period,” the report said.
The experts explained such a big difference by the playing of “underestimation”. They acknowledged that the asset has the “necessary ingredients” for such growth.
The blockchain from Meta natives has a bandwidth of up to 297,000 TPSwhile the Solana has this parameter at 65,000. At the current stage, the actual peak value reached 853 TPS against the competitor’s 1504 TPS. There is also an advantage in terms of the transaction finalization parameter — 0.48 seconds versus 12.8 seconds.
Source: K33 Research.
“Sui has created amazing technology. […] However, we have yet to see it outperform Solana in practice and on metrics such as average daily TPS,” experts said.
They did not rule it out in the future, subject to further attracting users and capital to the ecosystem.
Another advantage is the release of the SuiPlay0×1 portable game console expected in 2025. It is developed by Mysten Labs, the company behind the blockchain.
Experts drew parallels between the Sui device and Solana’s Saga smartphone. Owners of the latest gadget participated in airdrops, the cost of which significantly exceeded the cost of the phone.
“The team has a lot to offer in the competition for L1. The market largely continues to view networks other than Ethereum as competitors to the latter,” the analysts said.
Tokenomics is a serious obstacle for Sui. The mainnet was launched in May 2023, when tokennomics with low available supply and high FDV “were all over the place”.
As a result, only 27% of Sui’s capitalization is in circulation, creating risks for current investors in the future when new coins are unlocked. For comparison, Solana has 80% of the supply in circulation.
Source: K33 Research.
Mysten Labs is positioning Sui as a general-purpose network with high bandwidth, fast and cheap transactions, and a Web3-friendly interface.
A feature of the project is the use of its own Sui Move programming language — a modified version of Move developed for the Diem project.
As a reminder, in July, the Circle company added support for the USDC stablecoin to Sui.
Previously, the Mysten Labs team tested offline transactions over mobile networks and radio waves.
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