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- With the crypto ecosystem evolving, IOTA founder Dominik Schiener has revealed what makes the protocol different from SUI and Solana.
- Despite its uniqueness, IOTA is making moves to compete with both protocols directly.
IOTA’s co-founder Dominik Schiener recently explained why IOTA is better than Solana (SOL) and Sui (SUI). Schiener highlighted IOTA’s focus on real-world adoption as one of the platform’s unique approaches to blockchain innovation.
Schiener Compares IOTA To Solana and SUI
In a recent livestream YouTube video, Scheiner highlighted several reasons that make IOTA stand out against Solana and SUI. The co-founder’s comment is in response to a commenter’s question about why they should choose IOTA over Solana or SUI.
“What we focus on is really leverage these use cases that we have to bring utility and liquidity on IOTA that aren’t possible on any other networks,” Schiener responded. He added that IOTA is technologically similar to Solana and Sui. However, he stated that the protocol’s unique approach to utility positions it as a top player in the blockchain ecosystem.
Schiener emphasized that the IOTA network has made substantial contributions to regulatory affairs. He stated that the network would continue to push for clear crypto regulations, particularly as it expands into asset tokenization.
As CNF reported, the IOTA Foundation conducted a detailed discussion with industry leaders and other European institutions about the regulatory conditions. The discussion centered around how they can bridge the gap between technology and regulation without stifling innovation.
In a similar update, IOTA was recently selected to join the second cohort of the European Blockchain Sandbox Initiative (EBSI). According to a CNF report, the protocol will play a key role in shaping blockchain adoption in the region.
Scheiner’s latest video discussed how the IOTA network intends to bring its real-world adoption efforts on-chain. He further noted that IOTA plans to invest in builders, hackathons, and grants to compete with other networks like Solana and Sui.
Sui Network Emerges as Solana’s Rival
Meanwhile, Sui has emerged as a potential competitor to Solana in the layer-1 blockchain space. K33 Research analyst David Zimmerman recently highlighted its potential to challenge Solana’s dominance.
The analyst said Sui has outperformed Solana recently thanks to a sharp price increase. Sui’s native token, SUI, skyrocketed against SOL with a 115% rally between August and September. However, Zimmerman pointed out that some of Sui’s recent gains are likely due to market anomalies. Still, the price surge presents a solid ground for Sui’s growth.
Furthermore, Sui recorded a maximum theoretical transaction speed of 297,000 TPS, faster than Solana’s 65,000.
As of this writing, SUI is trading at $3.38%, up 2% in the last 24 hours. On the other hand, SOL registered a 24-hour 2.13% to $214.74. However, both tokens experienced a decrease in daily volume. These figures compares with IOTA’s price that is up 3.78% in 24 hours to $0.1397.