Sui could be Solana’s main competitor, survey finds

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Sui could be Solana’s main competitor, survey finds
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A recent study by K33 Research indicated that Sui Network has the potential to directly compete with Solana, currently one of the leading alternative networks to Ethereum.

The research, conducted by DeFi analyst David Zimmerman, suggests that Sui’s performance relative to Solana, coupled with its innovative architecture and the imminent launch of a gaming console, could put it in a prominent position in the layer-1 (L1) blockchain market.

According to K33 Research, Solana continues to be the focus of L1 network comparisons. However, Sui has shown impressive growth. In the period between August and September, the SUI/SOL pair gained 115%, surpassing the 6% gain of the SOL/ETH pair.

This significant performance has caught the attention of analysts, who see a promising future for Sui, although some of the recent price increase of the SUI native token may be related to “mispricing” in the market.

Sui: growing adoption and technical performance

A major milestone driving Sui Network adoption is the support from major industry players. Circle, for example, announced the launch of the USD Coin (USDC) stablecoin on the network. This signals growing institutional support, which is key to solidifying the network as a viable alternative to other L1s.

Furthermore, in terms of technical aspects, Sui has a maximum potential of 297 thousand transactions per second (TPS). This number contrasts with Solana’s theoretical maximum of 65 thousand TPS.

However, the difference between theoretical and practical capacity is still a relevant point. This is because Solana reaches, on average, around 3,000 TPS. Meanwhile, Sui reached its maximum of 854 TPS in July 2023, according to data from CoinGecko.

Another factor that could put Sui in a competitive position is the launch of its gaming console, the SuiPlay0x1, which is set to be distributed by Mysten Labs, the main developer behind the network.

The console will have a native NFT called “Eternals,” which can unlock exclusive rewards for users. Zimmerman drew parallels to Solana’s Saga mobile device, which also rewards its owners with airdrops that surpass the initial cost of the device.

The Sui console represents a unique opportunity to expand the network’s ecosystem. At the same time, it captures the attention of blockchain enthusiasts and gamers. This can attract new users and capital, further strengthening the network in the competitive blockchain landscape.

Sui could be Solana’s main competitor, survey finds

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Sui could be Solana’s main competitor, survey finds

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Sui could be Solana’s main competitor, survey finds

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