The Sui blockchain ecosystem has experienced significant growth in recent months, and its native Sui (SUI) token has seen a sustained rally alongside it. In an interview with Cointelegraph, Ramani Ramachandran, co-founder and CEO of Router Protocol, said this was due to a great developer experience and community in the Sui ecosystem.
Ramachandran said that Sui manages to combine the easy-to-use Move programming language with a simplified interface for end consumers, making the blockchain ecosystem attractive to developers. The CEO told Cointelegraph:
“The interesting thing about Sui was the founders are not as visible, but they are doing something right because developers are talking about them. A ton of developers are talking about how Sui is great — Sui is amazing.”
Ramachandran continued, “The community and vibes have been great,” and praised the Sui developer community as a sustainable ecosystem, positioning it as a counter to other alternative layer-1 projects that flounder following a token generation event.
A recent survey from MV Capital shows investor interest in Sui. Source MV Capital/Router Protocol
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Monolithic blockchains gain ground
An October report from VanEck showed that monolithic blockchains such as Sui and Solana outperformed other ecosystems during September.
Sui experienced a 140% gain in daily active addresses during September. This increased network activity drove demand for the SUI token and culminated in its current market capitalization of $9.9 billion.
Earlier in 2024, K33 Research released a report highlighting Sui’s potential as a Solana competitor. This report likewise highlighted Sui’s architecture as a key factor that makes the blockchain attractive, compared with other layer-1 blockchains featuring more complex programming languages and developer tools.
On Nov. 22, asset manager Franklin Templeton partnered with Sui to explore application development on the move-based blockchain ecosystem.
Because of Sui’s high throughput — the ability to process a large number of transactions per second — and low latency, the Sui network is attractive for applications that require frequent updates, such as video games.
Mysten Labs, the developer behind the Sui blockchain network, has announced a handheld gaming PC expected to launch sometime in 2025, which will be optimized for blockchain and traditional PC games.
Magazine: Are there ‘too many’ blockchains for gaming? Sui’s randomness feature: Web3 Gamer