Near Protocol and Sui are two blockchain platforms attracting attention in the Web3 community. Both promise significant improvements in scalability, security, and support for decentralized applications (dApps). Below is a detailed look at the similarities and differences between Near and Sui.
1. Overview introduction
• Near Protocol: Launched in 2020, Near is a layer 1 blockchain with high scalability thanks to the sharding mechanism (Nightshade). The Near protocol focuses on simplifying dApp development and improving user experience. With Near, users can use usernames instead of complex wallet addresses, making the blockchain more accessible.
• Sui: Sui is a new layer 1 blockchain developed by Mysten Labs – a company with a team of former Facebook (Meta) employees who participated in the Diem project. Sui stands out with the Move programming language, focusing on high performance, parallel transactions, and quick processing, especially for independent transactions.
2. Technology and architecture
• Consensus mechanism
• Near: Using a Proof-of-Stake (PoS) consensus mechanism combined with Nightshade Sharding, Near divides data into multiple shards to improve processing capability and scalability. Nightshade Sharding helps Near to scale horizontally without affecting the network's processing speed.
• Sui: Sui also uses a Proof-of-Stake (PoS) consensus mechanism, but optimized for processing parallel transactions. The consensus mechanism of Sui is designed to improve transaction confirmation speed, especially for independent transactions, helping to minimize congestion.
• Programming language
• Near: Supports programming languages Rust and AssemblyScript, making it easier for developers to build smart contracts and integrate dApps.
• Sui: Utilizes Move – a programming language originally developed for Meta's Diem blockchain. Move is optimized for security and asset management, allowing Sui to leverage high-security features when building complex financial applications.
• Transaction processing capability
• Near: With the Nightshade sharding mechanism, Near can process thousands of transactions per second, improving performance and reducing transaction fees.
• Sui: Proud of its parallel processing capability, Sui can achieve outstanding transaction speeds, especially in cases of independent transactions. Sui claims to have the ability to process transactions quickly and easily scale without performance degradation.
3. User experience
• Near: The Near protocol focuses on a simple and intuitive user experience. Users can register easily readable account names instead of long and hard-to-remember wallet addresses. This helps Near attract many new users, especially those unfamiliar with cryptocurrency.
• Sui: Sui focuses on performance and processing speed, with an emphasis on complex financial applications and high safety and security requirements. The interface of Sui is still being refined, and the main goal is to meet the needs of complex applications rather than personal user experience.
4. Ecosystem and dApp development
• Near: The Near ecosystem is growing strongly with projects in DeFi, NFT, gaming, and social dApps. Near also has a bridge with Ethereum (Rainbow Bridge) that allows applications to easily transfer assets between Near and Ethereum, expanding connectivity and user reach. Near has built an ecosystem with notable projects such as Mintbase (NFT marketplace) and Ref Finance (DEX).
• Sui: The Sui ecosystem is still new, but thanks to Move technology and a reputable founding team, it has attracted the interest of many projects in the DeFi and decentralized finance fields. With its parallel processing capability, Sui has great potential in developing complex applications and quick transactions. The Sui ecosystem is currently attracting developers in the DeFi and gaming fields.
5. Speed of development and community
• Near: Supported by the Near Foundation and having a dynamic developer community, Near is becoming one of the most popular blockchain platforms. Near has a large grant program to encourage the development of new projects and attract developers.
• Sui: As it is newly launched, Sui is still in the stage of building its community and ecosystem. However, thanks to the Move technology and high processing potential, Sui is gradually attracting attention from developers and the cryptocurrency community. The development team from Mysten Labs is also actively building relationships with new projects and partners.
7. Conclusion: Should you choose Near or Sui?
• Near: Suitable for developers wanting to build user-friendly dApps and require a platform with good scalability and a simple interface. Near has advantages in community, ecosystem, and more accessible user experience.
• Sui: Suitable for projects that require performance optimization and high security, especially in decentralized finance and complex applications. With the Move language and architecture optimized for parallel transactions, Sui can become the top choice for applications that require speed and efficiency.
Both $NEAR and $SUI have great potential, each platform has its unique advantages and serves different needs in the Web3 world. Choosing the right platform depends on the specific needs of the project and long-term development goals.
