2022-08-13 02:13:43
When the Nomad bridge was hacked for $ 190 million and the Slope wallet of the Solana blockchain ecosystem encountered a security hole, people started to care more about the other layer 1 blockchain. In particular, Aptos and Sui are two new names but have attracted a lot of attention recently. Let’s learn about the specialness of these two blockchains with CHK!
Overview of two blockchains Sui and Aptos
Sui blockchain
Sui is a new generation blockchain project with the advantages of scalability and low-latency. This is achieved by processing transactions in parallel, which makes more efficient use of resources and allows for scalability of throughput.
Sui is built on the Move programming language. Move was originally created by Facebook to develop the Diem project. However, This project was later canceled .
To learn more about Sui, readers can see more here: Overview of the Sui project (SUI)
Aptos blockchain
Aptos is a Layer 1 blockchain that aims to solve the reliability, scalability, and usability issues that have plagued existing Layer 1s. This blockchain is developed on Move, a programming language created for the previous Diem project.
Aptos can achieve over 130k transactions per second thanks to its parallel execution engine (Block-STM) with low transaction fees.
You can see more here: What is Aptos? Aptos . Ecosystem Overview
Comparison of Sui and Aptos
Development history
Facebook’s stablecoin Diem collapsed in early 2022 due to opposition from US and global authorities, as well as the “father” of the project, David Marcus, announcing his departure from Facebook.
However, there have been 2 projects, Sui and Aptos, built and developed based on the “remnants” of Diem and attracted many investors thanks to their professional team and attractive orientation.
For Sui, the project focuses on scalability and low latency thanks to its method of parallel transaction processing and efficient use of resources.
For Aptos, the project is focused on solving security and usability issues.
Thus, for the “three problems in blockchain” (Security – Decentralization – Scalability), Aptos and Sui emphasize scalability (reduce latency or increase transaction speed) and security. (like BFT development or anti-DDoS), but decentralization will be very weak because both are new blockchains.
Presumably, the two blockchains plan to accelerate in terms of scalability to attract projects and security to create trust for users, then the new team slowly adds decentralization.
About programming languages
Sui and Aptos are two blockchains that emerged from the “remnant” from the Diem project, so both use programming language Move Developed by Facebook.
Move is designed for more secure resource management, as well as deterministic and hidden transaction execution. This means that the outcome of a trade execution is completely predictable and is based solely on the information contained in the trade. In addition, the Move is resistant to denial of service (DDoS) attacks at the transaction execution level.
And yet, Move helps address a lot of vulnerabilities and security concerns in traditional languages like Solidity or Vyper.
However, both Sui and Aptos have their own highlights in the development of the project.
| Aptos | Sui |
| Original MOVE programming language, no features added or removed. | SUI adds object-centric global storage.
The Move language can create, delete, and update resources for global storage. Key ability: this is the key for global storage |
Define: object-centric global storage is a form of object storage, developed and extended globally. So, if Sui applies this technology, assets, NFTs or any data such as wallet addresses can be formatted as an object. In addition, Sui divides the audience into 2 to optimize for users:
- Owned object: can only be modified by its specific owner.
- Shared object: can be modified by multiple users.
In a nutshell, Sui seems to focus on building a solid foundation so that before rapid expansion can still ensure the safety of the blockchain.
Consensus Mechanism
The consensus mechanism of the two blockchains has the difference that makes Sui and Aptos unique.
For Sui
With the advent of object-centric global storage, Sui bypasses consensus for owned objects, resulting in very low latency for transactions simply because customers receive confirmation of finality right away. immediately, eliminating the concept of block time. However, this also means that the sender can only send one transaction at a time.
On the other hand, Sui uses Narwhal and Tusk DAG based mempool and Byzantine Fault Tolerance consensus mechanism for more complex transactions involving shared objects.
In addition, with the asynchronous consensus mechanism, applications on Sui will limit DDoS attacks.
(DDoS stands for Distributed Denial of Service, a DDoS attack is an attempt to bring down an online service by flooding it with traffic from multiple sources.)
For Aptos
Aptos uses BlockSTM technology and the Byzantine Fault Tolerance (BFT) consensus mechanism.
- The Byzantine Fault Tolerance (BFT) consensus mechanism solves the problem of a blockchain network working as it should and achieving correct consensus. This means that the BFT system can continue to function even if some nodes fail.
- BlockSTM: is a consensus mechanism developed from Hotstuff and is also a semi-synchronous mechanism different from Sui’s asynchronous mechanism.
Economic model of tokens in two ecosystems
Sui’s economic model allows the gas fee pricing mechanism to manage transactions at a low level and at the same time pay stable rewards to validators and delegators.
Compared to Sui, Aptos currently has no specific tokenomics and no token issuance.
Ecosystem scale
Comparing the size of the ecosystem, up to now, although Aptos has no token, there are a few Dapp products in different areas such as:
- Laminar, Mariana Exchange, Tsunami Exchange, AptoSwap, Umi Protocol, Econia: DEX projects are being built on the Aptos blockchain, but not yet launched.
- 1KX Protocol: AMM DEX + lending/borrowing protocol supports multichain.
- Pontem Network: the leading DEX project built on Aptos, Pontem has received investment from leading investment funds such as Alameda Research, Delphi Digital, Animoca Brands,,….
But Sui still has no other products built with so at the moment there are still quite a few investors interested.
Fundraising activities
Sui
Sui has just completed a Series A funding round with a total raise of up to 36 million USD. This funding round was led by a16z, along with Redpoint, with the participation of many other investment funds such as Coinbase Ventures, Lightspeed, Standard Crypto.
Aptos
Aptos closed its first round of funding in March 2022, Called 200 million USD. This investment round was led by a16z Crypto, with the participation of well-known VCs such as Multicoin Capital, Hashed, Tiger Global, FTX Ventures and Coinbase Ventures, among others.
On July 25, 2022, Aptos continues to announce the round raise capital 150 million USD led by FTX Ventures and Jump Crypto, with participation from Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt and further backing from a16z and Multicoin.
Briefly, the capital that Aptos calls is much larger than the Sui blockchain ($350 – $36 million) up to the present time. So this also partly indicates that large funds have not yet had too much interest in Sui, perhaps due to the influence of the overall trend from the market, they put capital management on top to avoid being dissuaded. loss risk.
Overview and personal perspective on 2 blockchains Sui and Aptos
After having an overview of Sui and Aptos, I personally think that these two blockchains are likely to emerge in the next cycle when the market trend will continue to go down in the near future. If comparing the potential, Aptos can have a bigger advantage than Sui when successfully raising $ 350 million to fund the development of the blockchain ecosystem and ecosystem, while Sui only has $ 36 million in difficult times. upcoming challenge (it is reported that Sui raised $200 million in Series B but still less than Aptos).
Although Aptos has raised more capital than Sui, it is very difficult to determine which projects Aptos and Sui have more potential. However, it cannot be denied that both use the Move language to develop their products. Therefore, this is not only an investment opportunity but also a career opportunity in the blockchain field.
Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.
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