With Ethereum having it's ETFs approved and it being about 1-3 months before we really start to see them come online it's putting altcoins under it under heavy buy pressure as of late. However there are still other layer 1 solutions coming about that could put Ethereum to shame in terms of mass adoption and that's mainly because Ethereum still has a massive scalability issue.

Since Ethereum is looking into layer two solutions to fix it's scalability issues there are now new layer 1 solutions which are looking to become better. I still firmly believe in my own opinion however is that no single blockchain is going to be able to do it all. From NFTs, DeFi, staking, applications etc I just don't see how with todays capabilities that any one solution can handle it all even though many still try they will become bogged down or go to the chopping block when something new is released like DeFi or NFTs for example.

SUI

SUI is one such layer 1 blockchain that is looking to build on this. It launched their mainnet in May 2023 meaning this chains only a year old now. SUI runs on POS (Proof of Stake) and has the ability at least in testing to process well over 200,000 transactions per second. However at the time of writing this SUI is currently doing around 800 transactions per second based on current activity on the chain and comes behind Solana which is producing well over 1,500 transactions per second at the moment.

SUI works on nodes but it's limited right now to just a little over 100 nodes currently running as the amount of SUI needed to run a node is simply massive. It honestly reminds me of the Tron network or Wax network where there's a small collection of nodes but you can delegate however much Tron, Wax or in this case SUI to one of the nodes as a "vote" which will earn you around a 3% APR on the token at the moment.

Now the issue with this is mainly that a 3% yield simply is not good enough in todays age. You could open a bank account with that money and earn 5.1% or in the case of USDC which is coinbases stable coin earn 5.15%. This is where I feel blockchains need to almost act like the fed where rates increase and decrease based on demand or outside figures such as interest rates. I don't think we will ever get to that point however in my lifetime.

Now one of the big benefits of SUI from other blockchains is if it started to get sluggish the ability to bring more computers (nodes) online actully speeds up the blockchain and is a unique scaling solution that honestly makes sense in the way that more bitcoin miners come online if the price rises which secures the network more.

SUI doesn't have too much going for it at the moment besides possible speculation which mainly comes around the possibility on their road map of launches a cross chain bridge at the end of the year. What we know about these types of launches is they are normally followed by a airdrop of tokens for that bridge. However there's no guarantee that it would happen.

The biggest plus side of SUI right now are actully a few things. It's primarily being adopted in Asia countries at the moment, it has shown it can scale and do so without outages like we have constantly seen with Solana and it overall seems like a solid chain which if we all know Asia normally is filled with tons of developers.