Sui Blockchain has become one of the best alternatives to Solana and Ethereum networks. Its layer-1 network is highly scalable, easy to build on, and has some of the highest transaction speeds in the industry.
Despite these milestones, Sui’s token price has not done well. After peaking at an all-time high of $2.1833 on March 27th, the token has dropped by over 61% and remains below $1.
This decline coincided with the sharp retreat of other cryptocurrencies, such as Solana, Polkadot, Cardano, and the BNB token.
Analysts believe that the Sui Blockchain has the potential to become the best alternative to developers using Solana and Ethereum. Ethereum, the current market leader in the industry, is known for having high transaction fees. As a result, it has brought in over $1.5 billion in fees this year. Ethereum’s confirmation time is also significantly long, which is not ideal.
Solana, on the other hand, is seeing signs of congestion because of the rising network activity. Its network has had some outages that have cost developers and investors huge sums of money.
Sui Blockchain, therefore, is a good alternative for developers building Decentralized Finance (DeFi), Decentralized Public Infrastructure (DePIN), and gaming platforms.
It is a blockchain network that has introduced numerous innovations in the industry. For example, it has parallel transaction processing, which enables an object-centric model that ensures a fast path and ordered processing.
Suii also has programmable transaction blocks, meaning that over 1,000 operations can be handled in a single transaction.
Sui Blockchain has already attracted several developers. Data by DeFi Llama shows that the network has over $541 million in total value locked (TVL). Some of the top networks in the blockchain are NAVI Protocol, Cetus, Scallop Lend, and Aftermath Finance. Sui, a leading Solana DEX, also expanded to Sui recently.
To be clear, other similar blockchain networks provide quick throughput and low transaction costs. Some of the most notable ones are Arbitrum, Base, Near Protocol, and Sei.
Also, as an investment, Sui has two key risks. First, it has a lower staking yield than similar networks like Avalanche, Tron, and Aptos. Second, it has room for more dilution since 25% of its supply is unlocked. Its token unlocks will continue until June 2019. Most of these tokens will end up in existing staking pools, leading to more dilution.
