Cardano’s
Charles Hoskinson Applauds
Sui’s Growth and Innovative Approach
Cardano founder Charles Hoskinson has commended the team behind Sui , a
fast-rising blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн network that has recently gained significant traction.
Sui is a Layer-1 blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн and smart contract platform that launched in 2023.
Its goal is to simplify and enhance application development in the Web3
ecosystem. The platform operates on the Move programming language, allowing
for parallel transaction processing.
Hoskinson Commends Sui Network s Progress
Sponsored
Sponsored
On October 4, Charles Hoskinson, the founder of Cardano , praised the SUI
network team for their recent performance. He specifically acknowledged the
work of George Danezis, Mysten Labs Co-Founder and Chief Scientist, and noted
that the network deserves recognition within the crypto space.
Reading about Sui. It s good to see George s work come to
life. They deserve great success in the space, Hoskinson stated .
Hoskinson s recognition comes as Sui s growth has captured
significant attention in recent weeks. Its native token surged by 118% over
the past month, pushing its market cap to $5 billion. The platform also
reported a 140% increase in active addresses and a 48% revenue jump compared
to August.
Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024
Sui s DeFi ecosystem is also expanding, with increasing transaction
volumes and a growing number of decentralized applications (dApps). Data from
DefiLlama reveals a 40% rise in Sui s decentralized exchange transaction
volume, reaching $872 million in weekly transactions.
Additionally, the total value locked (TVL) on the platform now stands at
approximately $1.25 billion, ranking it among the top 10 blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн networks
by TVL. Sui DEX Volume. Source: DeFillama
Sponsored
Sponsored
Market analysts point to memecoin speculation and the introduction of native
stablecoins like Circle’s USD Coin as major drivers of this activity.
Additionally, the network has attracted institutional interest, with Grayscale
recently launching a dedicated crypto investment trust for the project.
Read more: Which Are the Best Altcoins To Invest in October 2024?
These developments have led some observers to suggest that SUI could become a
serious competitor to other smart contract-enabled blockchains, such as Solana
and Cardano. Asset management firm VanEck highlighted the blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
network s unique object-based architecture, which supports higher
transaction throughput and lower latency compared to rivals like Solana and
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum .
If we are to segment our investment theses on Layer-1 blockchains, we
put Sui in the camp with Solana and Aptos as chains that are leveraging their
high-performance characteristics to appeal to Web2 developers, VanEck
stated .
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