Aptos vs Sui: Which is a better layer 1 blockchain solution? In this article we will learn about both the blockchains and try to learn which is going to succeed in long term?
What is Aptos?
Aptos is a newly constructed proof-of-stake (PoS) blockchain that aims to alleviate the L1 market’s regular scalability and security concerns. The Aptos blockchain, according to the whitepaper, was “designed with scalability, safety, consistency, and upgradeability as guiding principles.” The Aptos blockchain has a modular architecture that is both extensible and upgrade-friendly. Furthermore, it includes a mechanism of rapid validator rotation determined by stake weight to improve performance and contribute to Aptos’ organic decentralisation. Aptos recently released its mainnet following four ‘Aptos incentivized testnets,’ during which the network was properly tested and developers became familiarised with the chain.
What is Sui?
Mysten Labs announced Sui, a permissionless PoS L1 blockchain. Sui’s object-centric architecture provides horizontal scalability, that it claims is vital to capturing the next billions Web3 users. Sui was created because existing blockchain networks aren’t scalable enough to fulfil demand from widespread usage. Sui allows causally unrelated transactions to build a parallelized agreement, increasing scalability. This minimises the cost of global consensus and enables infinite horizontal scaling. Simple transactions can be processed instantly without waiting for the whole validator set to reach consensus.
Aptos and Sui: What are their similarities?
Sui and Aptos use a similar implementation of the Move programming language, which was designed for Diem. Move is a Rust-based programming language. Sui has abandoned the original Move language, but Aptos has continued to use it. Move was built to take use of Sui’s object-oriented architecture, improve transaction parallelization, and improve the developer experience.
Both make use of parallel execution and have high TPS and low latency. Parallel execution is a key selling point for both blockchains. Both chains have shown significant gains in TPS and latency throughout their Testnet or development network operations.
Sui vs APTOS: Founders, teams and funding
Aptos Labs was created by two former Diem executives. Mo Shaikh is the current CEO, while Avery Ching is the CTO. According to LinkedIn statistics, the bulk of the company’s 89 workers are based in the United States. Aptos Labs has raised $350 million in two significant investment rounds this year.Prominent players include Binance Labs, Jump Crypto, FTX Ventures, and Multicoin Capital.
Sui’s creator, Mysten Labs, was founded in 2021 and, like Aptos, is based in Palo Alto, California. Evan Cheng, Adeniyi Abiodun, and Sam Blackshear are the CEO, CPO, and CTO of the company, respectively. Mysten Labs has raised $336 million in two funding rounds since December 2021. Among the major players are Binance Labs, Franklin Templeton, FTX Ventures, and a16z crypto.
Aptos and Sui are two new Layer-1 efforts that try to overcome the scalability issues that plague the current Layer-1 ecosystem. Simply said, scalability is a blockchain’s ability to maintain performance as the network, including users and transactions, grows.
Aptos is differentiated by its Block-STM execution engine, which permits the processing of several transactions concurrently. Sui, on the other hand, seeks to efficiently split data storage and expand its resources horizontally. Furthermore, their dual-execution method allows certain independent transactions to easily avoid consensus.
Aptos Labs did offer a tokenomics summary for their native token, APT. Although there is some lack of transparency in the material supplied, the team did say that a whitepaper with more depth on tokenomics would be available shortly. According to the information they have released thus far, 82% of the original supply is presently staked for Proof of Staking (PoS) participation by everybody. The initial quantity of APT tokens will be one billion. The community will get around 51% of the tokens on the blockchain, with key contributors receiving approximately 19%, the foundation receiving 16.5%, and investors receiving 13.48%.
SUI Blockchain Tokenomics
Mysten Labs, on the other hand, created a full whitepaper on their native coin, SUI. There is a fixed supply of 10 billion tokens. According to the economic model, Sui holders delegate their tokens to validators at the start of each Sui era, and a new validation committee is formed. The reference gas price is then computed, and the storage fund amount is adjusted depending on the net inflow of the previous era. Validators are rewarded for increasing network capacity and responsiveness, while invalidators are penalised. Storage costs may potentially have a deflationary effect on the restricted SUI coin, as more activity and hence higher on-chain data storage needs result in fewer SUI in circulation.
Dapps building on these Blockchains
Our Pontem Network blockchain studio has already created an Aptos-compatible wallet. Other browsers can get the wallet extension in.zip file from GitHub. It was recently added to the Chrome Web Store. Along with Pontem Wallet, there are two more wallets worth mentioning: Martian and Fewcha. Accepting test tokens from a faucet and sending them to other DevNet accounts is possible with both extensions. Pontem Network also built the first Aptos blockchain AMM. It’s called Liquidswap, and it’s already live on DevNet. You may use Pontem Wallet to connect to the DEX and engage in risk-free exchanges such as APTOS, BTC, and USDT.
Sui launched its own Chrome wallet plugin in July, letting users to create Sui addresses, send testnet tokens and NFTs, and connect to an NFT minting sample dApp. However, there are no AMMs or other dApps available for Sui at the time of writing.
Final Thoughts: SUI vs APTOS – Which is a Better Layer 1 Solution?
Aptos and Sui are distinct and ambitious L1 projects built by capable teams with a wealth of technical and product knowledge. At this early point in the development of both procedures, predicting which would triumph is difficult and mainly useless. Sui’s unconventional approach to blockchains, with their object-centric architecture, provides a new perspective on the L1 space’s challenges. On the Aptos side, we’ll keep an eye on their “upgradability” claim and watch how the chain grows and adapts. It is critical to remember that Aptos and Sui are still in their infancy, and any initial advantages may fade in a matter of months. It is too early to tell which one deserves the most hope. Both have made tremendous progress and done an outstanding job of improving on the previous design.