ChainCatcher news, Web3 industry research and analysis platform Web3Caff Research recently released an in-depth research report on the Move-based public chain Sui. Web3Caff Research researcher Warren pointed out in the report that the public chain, as the core infrastructure of blockchain technology, has achieved significant development in recent years. With the boom of applications such as decentralized finance (DeFi) and NFT, the performance requirements of public chains are increasing day by day. Modern blockchain applications require high throughput, low latency, security, and scalability to meet the needs of large-scale users. Recently, the new high-performance consensus mechanism Mysticeti launched by Sui has attracted a new round of attention in the market, and its continuously advancing ecological landscape has also made it one of the most competitive projects in high-performance public chains. In a CoinGecko report on May 17, it was pointed out that Sui’s highest daily average real TPS (Transactions Per Second) reached 854 transactions per second, which was second only to Solana and significantly ahead of third place.
The report further pointed out that on May 4, 24, Sui proposed a new consensus protocol, Mysticeti. Mysticeti was developed based on an in-depth study of the Byzantine Fault Tolerance (BFT) consensus mechanism. It has made some progress compared to the Narwhal-Bullshark consensus algorithm (i.e., a DAG-based memory pool and an efficient BFT consensus algorithm) launched when Sui's mainnet was launched a year ago. It has increased transaction speeds and reduced hardware requirements for verification nodes. On July 26, it was officially announced that the Mysticeti consensus mechanism was launched on the mainnet. As a new generation of consensus mechanism, the test results of nearly two months of testnet testing showed that Mysticeti achieved the fastest overall delay in the current blockchain, reaching a testnet consensus within 390 milliseconds and completing settlement within 640 milliseconds. This is 80% less than the consensus time of Narwhal-Bullshark.
The report also further pointed out Sui’s two core challenges: first, the insufficient number of Move language developers makes it difficult for the developer ecosystem to grow rapidly, thus limiting the development of the application ecosystem; second, the development of native digital assets is relatively slow, and capital liquidity is insufficient, affecting the overall activity of the ecosystem and user appeal.
