crypto-news-flash.com
- Sui Network processes 297,000 transactions per second with finality in 390 milliseconds, highlighting its technical superiority.
- Sui Network’s partnerships with BytePlus, Tencent, and Alibaba solidify its growing influence in the blockchain industry.
In a recent tweet, influencer StarPlatinum started a discussion by speculating that SUI could be the next big winner this cycle. The tweet emphasized Sui Network’s attempts to address fundamental difficulties in the blockchain ecosystem, specifically network congestion and poor adoption.
Notably, Sui was able to address these difficulties without ever reaching its maximum capacity, demonstrating the power of its scalable Layer 1 infrastructure, which uses parallel execution to improve intelligent asset coordination.
Could $SUI be the next big winner of this cycle?
Here’s why I believe it🧵 pic.twitter.com/0miJ38mkX2
— StarPlatinum (@StarPlatinumSOL) August 12, 2024
Sui Network Outpaces Competitors with Unmatched Speed and Strategic Partnerships
Sui Network’s ability to process an astonishing 297,000 transactions per second (TPS) demonstrates its technological prowess. Furthermore, it achieves transaction finality in 390 milliseconds while keeping cheap gas fees, which is crucial in the blockchain environment.
These characteristics establish SUI as a leader among Layer 1 blockchains, outperforming its competitors. For example, a comparison video of swaps on Jupiter (Solana) and KriyaDEX (Sui) demonstrated that Sui completed transactions in 0.73 seconds, whereas Solana took 4.45 seconds. As we previously noted, this increased Sui’s speed in this test by about six times, demonstrating its better performance.
In addition to its technical advantages, Sui Network has been at the forefront of forming strategic collaborations in 2024. Notable agreements include those with TikTok subsidiary Byteplus, as well as major Asian cloud providers Tencent Cloud and Alibaba Cloud.
These collaborations are critical to Sui’s expansion and adoption in the Asian market. Furthermore, according to our prior report, Grayscale, a well-known digital asset management firm, has established a specialized SUI fund, bolstering Sui’s position in the blockchain market.
Sui Network’s influence extends beyond its technical accomplishments and relationships; it is also making considerable progress in the blockchain gaming industry.
The network is working on PLAYTRON, the first portable device with native Web3 gaming capabilities, which will be able to run big titles from both Web3 and Web2. This breakthrough establishes Sui Network as a formidable player in the rapidly emerging blockchain gaming market, which holds enormous potential.
SUI is now one of the blockchains to keep an eye on because of its quick transaction speeds, low prices, strong collaborations, and new ideas. Given recent price changes, SUI, which is currently among the top 35 cryptos by market cap, seems to have strong long-term potential.
At the time of writing, SUI is trading at $0.9039, down 3.77% over the last 24 hours, with a daily trading volume of $297.62 million.