Binance Research has just published a report titled “Aptos and Sui: The New Kids on the Block”.
🔎 Aptos and Sui are new Layer-1 projects that seek to tackle the Blockchain Trilemma i.e. the idea that a blockchain has to optimize for two out of three features between decentralization, security, and scalability
🔎 Scalability: this is targeted via parallel execution techniques (described in detail in the report) which allow transactions to be executed at a faster pace and at a lower latency than many competitors. The key for Aptos is their Block-STM execution engine, which allows for multiple transactions to be handled concurrently. For Sui, the secret lies in their novel dual-execution approach, which allows certain independent transactions to bypass consensus and have near-instant finality
🔎 Security: Both blockchains utilize the new smart-contract specific programming language, Move. Move comes pre-built with features that hope to deliver an improvement in safety and privacy in the blockchain world. These features include the Move Prover, which is a tool that can help developers formally verify smart contracts and hopefully prevent certain types of hacks and exploits. Additionally, Aptos has been vocal in stating its focus on upgradeability, and this means that Aptos is expected to be rapid in the deployment of the latest safety technology.
We look forward to monitoring developments in the language and Aptos’ promise of an upgradeable chain and will keep a close eye on how it plays out.
🔎 Decentralization: Firstly, we should note that decentralization is a spectrum, and not a binary or single-dimensional concept. There are many layers on which decentralization matters, and projects make different sacrifices to optimize for different goals.
Aptos and Sui recognize that extensive hardware requirements can be a key determinant for impacting decentralization on a blockchain level, and both seek to reduce this barrier through lowering hardware requirements. Sui in particular stands out here and tops the list among major L1s
🔎 Aptos and Sui have been developed by some of the top engineers and product developers in the Web2 space. In addition to the above, both chains have a range of cutting-edge features which we dive into in this report. Both Aptos Labs and Mysten Labs (the team behind Sui) have both raised sizeable amounts of capital from a well-capitalized investor base and given the extensive product experience in the background of these teams, both chains are looking to take crypto adoption to the global stage and target the next billion users.
Check out the full report for a thorough look at the state of the current L1 market, a deep dive into Aptos and Sui and where they fit in, as well a detailed analysis of the similarities and differences between the two projects.
For more details, the full report can be found here: https://research.binance.com/en/analysis/aptos-sui-report
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About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
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