Main conclusions:
Aptos and Sui are new tier-one projects that seek to solve the scalability, security, and decentralization issues inherent in the current tier-one space.
Both blockchains use parallel execution techniques—albeit in different ways—to increase transaction speeds and reduce latency.
They also use a new programming language, Move, aimed at improving the reliability and security of the blockchain.
Aptos and Sui were developed by some of the best teams in the Web2 space, and both projects have been able to raise significant amounts of capital in challenging market conditions over the past year.
Binance Research has published a report entitled “Aptos and Sui: Newcomers to the Industry.” Aptos and Sui are new tier 1 projects that were created by the developers of the Diem (formerly Libra) project from Meta. The authors of these projects seek to use their experience to solve current problems characteristic of the first level.
Aptos and Sui aim to solve the blockchain trilemma, which is the idea that a blockchain can only provide two of the following three characteristics at a time: decentralization, security, or scalability.
Scalability
This is achieved using parallel execution technologies (detailed in the report), which allow transactions to be completed faster and with less latency than many competitors. Aptos uses the Block-STM execution engine, which allows it to process multiple transactions simultaneously.
Aptos also uses an innovative parallel transaction processing flow, where each component of a transaction is independent and can be processed separately. This improves throughput and reduces latency.
Sui uses a dual execution model, allowing independent transactions to bypass consensus and execute almost instantly. This is made possible by an object-oriented design that is significantly different from traditional blockchains and allows independent transactions to be completed almost instantly. Due to this, Sui can be used for tasks that require high throughput.
Safety
The crypto ecosystem consists of a number of interoperable protocols based on smart contracts. The so-called “stack” has different layers with their own unique vulnerabilities.
Some potential vulnerabilities are general in nature, such as social engineering attacks aimed at gaining access to users' private keys, while other vulnerabilities may be highly technical and blockchain-specific, such as re-entry attacks.
Both Aptos and Sui aim to improve security by introducing a new programming language, Move, designed specifically for smart contracts. Move has various built-in security features aimed at increasing the security and privacy of the blockchain.
Among these features is the Move Prover tool, which helps developers verify smart contracts and further prevent certain types of attacks. Additionally, Aptos has been open about its commitment to modernization and rapid adoption of the latest security technologies.
Decentralization
First, it should be noted that decentralization is a spectrum, it is not binary or one-dimensional. Decentralization is important on many levels, and projects make different sacrifices to optimize for different purposes.
One way to measure the level of decentralization is to look at the hardware requirements for running a validator node. These requirements are the main factor determining the distribution and number of independent validator nodes, and therefore largely help determine relative decentralization.
Aptos and Sui believe that excessively high hardware requirements can be a barrier to decentralization at the blockchain level, and aim to reduce this barrier by reducing them. Sui ranks first among the main tier 1 projects with the least requirements:
Aptos and Sui were developed by leading engineers and product developers in the Web2 field. In addition, both blockchains have a number of advanced features, which we detail in the report.
Aptos Labs and Mysten Labs (Sui's team) were able to raise significant amounts of capital from large investors. With extensive experience in creating products, the teams on both chains strive to achieve global adoption of cryptocurrencies and attract millions of users.
Read the full report to get detailed information about the state of the current Tier 1 market, get a closer look at Aptos and Sui and learn about their niche, and see a detailed analysis of the similarities and differences between the two projects.
You can also follow Binance Research on Twitter for new interesting information, as well as other reports on the Binance Research website.
About Binance Research: Binance Research is the research division of Binance, the world's largest cryptocurrency exchange. The Binance Research team provides objective, independent and comprehensive data analysis and strives to be a thought leader in the crypto space. Our analysts regularly publish in-depth content on topics related to the crypto ecosystem, blockchain technologies, the latest market developments, and much more.
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