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Kriptoteka > Market > Blockchain > Is Sui the Next ‘Solana Killer’? Experts Weigh In on the Debate
Blockchain

Is Sui the Next ‘Solana Killer’? Experts Weigh In on the Debate

marcel.mihalic@gmail.com
Last updated: September 18, 2024 4:30 am
By marcel.mihalic@gmail.com 5 Min Read
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Sui has built a name for itself thanks to its technical advancements, but can it truly be labeled as the next “Solana Killer”? Experts in the industry evaluate the strengths of both platforms.

While Solana benefits from an established community, it shouldn’t become complacent.

Sui: The “Solana Killer”

Both Sui and Solana are Layer-1 blockchains that are gaining traction in the crypto world, albeit with distinct characteristics. Solana is currently one of the top crypto assets, with speculation suggesting it may compete for the third exchange-traded fund (ETF). In contrast, Sui is a newer blockchain that aspires to surpass Solana by honing in on its most appealing aspects.

Read More: Everything You Need to Know About the Sui Blockchain

Sui has been labeled the “Solana killer” thanks to its highly skilled developers and expanding capabilities, though opinions vary widely. For instance, Guy Turner from the Coin Bureau podcast has noted that Sui “meets the criteria of a crypto that retail could get into.”

However, he cautioned that “demand is not trending positively, which poses challenges for Sui’s price.” A quick glance at Reddit highlights significant skepticism among community members. So what do leading developers think?

Tim Kravchunovsky, CEO of Chirp, surprised many in July when he selected Sui over Solana to develop the Decentralized Physical Infrastructure Network (DePIN). In an interview, he explained that the recurrent outages on Solana raised concerns for his team.

Although Sui has not yet achieved the same level of popularity as Solana, it has several technical advantages that influenced Kravchunovsky’s decision.

“Solana appeared to be struggling with its rising popularity. It was a ‘red flag.’ In a rapidly innovating ecosystem like blockchain, new developments will always emerge that enhance existing offerings and potentially outdo them. We believe Sui is that innovation—akin to a Solana 2.0, if you will. I would gladly endorse Sui as the leading choice for a resilient and scalable network,” Kravchunovsky stated.

Raoul Pal, founder and CEO of Global Macro Investor, echoed these optimistic views. Pal highlighted several positive trends in Sui’s recent performance, particularly its ability to rise in a stagnating market, asserting that “relative strength in a sideways market is noteworthy.”

Sui price graph September 2024
Sui Price Performance. Source: Raoul Pal

Solana Offers a Superior User Experience

However, not everyone is swayed by these purported technical advantages. A recent newsletter from 21Shares noted that Solana’s user base is currently significantly more stable.

“Sui’s growth appears to be largely fueled by bursts of activity,” it argued, while “Solana exhibits much more consistent growth in active addresses.”

While Sui can point to multiple instances of remarkable user expansion, those periods have all eventually plateaued or declined. In comparison, Solana demonstrates a steadier growth trajectory.

Read More: What Is Solana (SOL)?

Kylebuildsstuff also discussed Sui’s advantages from a developer’s standpoint. He shared that his preference leans towards Sui based on his experience, stating it elevates standards for developers, similar to how Solana improved benchmarks for cost-effectiveness and gas fees. Nonetheless, that alone does not qualify it as a “Solana killer.”

“Sui will not replace Solana because using Solana is not an unpleasant experience; the current user experience on Solana is better, in my opinion. The ecosystem is significantly more developed, and the offerings reflect that. Users prioritize improvements in their lives over the underlying technology,” Kylebuildsstuff claimed.

Disclaimer

In compliance with the Trust Project guidelines, BeInCrypto is dedicated to impartial and transparent reporting. This news article strives to provide accurate and timely information. However, readers should independently verify facts and seek professional advice before making any decisions based on this content. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been revised.

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