This article presents a conceptual overview of what SUI can offer developers. If you would like an article that dives into the more technical aspects of SUI, give me a follow and stay tuned! Also, thank you for your attention! I know its value, and it means the world to me that anyone would take the time to read something I wrote. With that, enjoy the article 🙂
Releasing a new Layer 1 protocol in 2024 may, to many, seem futile. Ethereum and Bitcoin alone reach a combined market cap exceeding 1.5 trillion dollars (as of 10/23/24). However, a more telling metric would be Total Value Locked (TVL), which tracks the total monetary value of all assets “locked” or actively used on a blockchain Ethereum absolutely dominates this metric, with a current TVL of 46.8 billion. In comparison, TRON ranks second with $6.9 billion, followed closely by Solana at $6.3 billion.
With those metrics in mind, it’s hard to imagine there being much room left for successful Layer 1 protocols. However, if any were to break through, my pick would be the recently launched SUI protocol. Developed by Mysten Labs and leveraging the Move programming language, originally created for Meta’s Diem project, SUI is carving out a distinct identity, standing apart from more established blockchains like Ethereum and Solana.