Cardano

Interest Protocol

DeFi

<h4>Sui is one of the up-and-coming blockchains. Its mainnet launched in May 2023. On the other hand, Cardano is one of the older chains in the space. Its mainnet launched in September 2017.</h4> 
Both have their strong and weak points. That’s something I would like to look into. Make a couple of comparisons and see where each chain stands for us users. Is it the new kid on the block, or will the old hand be able to stand its ground?&nbsp;Well, there’s only one way to find out. So, let’s dive straight in, and see how this works out for them. 
<h5>1) DeFi Markets</h5> 
So, the first area I want to look at is DeFi. How much TVL has each chain locked? I use CoinGecko and DeFiLlama to check this.&nbsp;On CoinGecko: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Sui <a href="https://www.coingecko.com/en/chains/sui" target="_blank" rel="noopener">places</a> 12th with $595.8 million in TVL. That’s a market dominance of 0.68% with 42 coins.</li> 
 <li style="font-weight: 400;" aria-level="1">Cardano <a href="https://www.coingecko.com/en/chains/cardano" target="_blank" rel="noopener">sits</a> in the 16th spot with a TVL of $300 million. Its market dominance is 0.35% with 77 coins.</li> 
</ul> 
On DeFiLlama: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Sui is in <a href="https://defillama.com/chain/Sui" target="_blank" rel="noopener">13th spot</a> with a TVL of $642.45 million. DeFiLlama credits Sui with 30 protocols.</li> 
 <li style="font-weight: 400;" aria-level="1">Cardano takes the <a href="https://defillama.com/chain/Cardano" target="_blank" rel="noopener">19th spot</a> here with a TVL of $338.37 million. It has 35 protocols.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 State of <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a> Q4'23 &amp; Q1'24 
 Key Update: <a href="https://twitter.com/Mysten_Labs?ref_src=twsrc%5Etfw">@Mysten_Labs</a> introduced new execution solution Pilotfish, which distributes work across multiple machines for a validator. 
 QoQ Metrics <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> – DEX Volume <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 397% – <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 132% – DeFi TVL <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b06.png" alt="⬆" class="wp-smiley" style="height: 1em; max-height: 1em;"> 272% 
 Full report: <a href="https://t.co/ZH983kmXfx">https://t.co/ZH983kmXfx</a> <a href="https://t.co/GFUyuRuYAj">pic.twitter.com/GFUyuRuYAj</a> 
 — Messari (@MessariCrypto) <a href="https://twitter.com/MessariCrypto/status/1783180885782569430?ref_src=twsrc%5Etfw">April 24, 2024</a>
</blockquote> 
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So, we see Sui taking a convincing lead here. Twice on different platforms, it beats Cardano hands down.&nbsp; Sui has built up a better TVL in a much shorter time frame. I can safely say that Sui is taking the DeFi space by storm. If given grades, Sui would get a 3.5 out of 5 and Cardano a 2.5. 
<h5>2) NFTs</h5> 
Now, let’s take a look at the NFT space. Yes, Ethereum is still the <a href="https://www.cryptoslam.io/blockchains" target="_blank" rel="noopener">main chain</a> for NFTs. Although, currently, Bitcoin’s Runes are taking the driver’s seat. Solana comes in at third spot.&nbsp;&nbsp; 
So, on renowned NFT platforms, like CryptoSlam or <a href="https://dappradar.com/rankings/chains?resultsPerPage=50&amp;category=chains_layer-1" target="_blank" rel="noopener">DappRadar</a>, you won’t find Sui. However, they do list Cardano. Cardano has a 24-hour volume of $66,683. Sui has a 10,521 <a href="https://suivision.xyz/nfts" target="_blank" rel="noopener">$SUI volume</a>, or $14,400. By the way, 40% of that volume goes to Prime Machin. We recently posted <a href="https://www.altcoinbuzz.io/nft/the-sui-nft-space-is-rocking-it/" target="_blank" rel="noopener">an article</a> about this collection. So, yes, Cardano wins when we look at daily volume. 
However, that’s not what I’m looking for here. I’m impressed by the tech behind the <a href="https://blog.sui.io/nft-standards-royalties/" target="_blank" rel="noopener">Sui NFTs</a>. Their design may put them in the driver’s seat over time. For example, the Sui NFT standards include Dynamic Fields. This allows NFTs to change over time or when they meet certain conditions. <a href="https://docs.sui.io/standards/kiosk" target="_blank" rel="noopener">Kiosk</a> is another important feature. It allows a Sui NFT to hold other NFTs or coins. You can also borrow or lend NFTs this way.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 ICYMI, today we announced that <a href="https://twitter.com/xocietyofficial?ref_src=twsrc%5Etfw">@XOCIETYofficial</a>, coming in late 2024, will leverage Sui's dynamic NFTs and quick transaction speeds for the pop shooter game!<a href="https://t.co/BYOx0B8eJm">https://t.co/BYOx0B8eJm</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1783451015200870698?ref_src=twsrc%5Etfw">April 25, 2024</a>
</blockquote> 
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Another sample of Sui NFT’s creativity is that you can merge NFTs. Remember the 7<a href="https://suifrens.com/" target="_blank" rel="noopener"> SuiFrens</a> or the <a href="https://blog.sui.io/capy-prototype-programming/" target="_blank" rel="noopener">Capys</a>? You could merge the two and get a new one.&nbsp;This tech in Sui NFTs sets them far apart from any other NFT on different chains. It now all depends on the creativity of the Sui NFT devs.&nbsp; 
Sui wins here, despite not having the volume yet. That’s only a matter of time. I give Sui a 4.5 out of 5 and Cardano a 3. 
<h5>3) The Size of Their Ecosystems</h5> 
So, let’s take a look at their respective ecosystems. Here, Cardano has a six-year advantage over <a href="https://sui.io/" target="_blank" rel="noopener">Sui</a>. Look at this interactive <a href="https://www.cardanocube.com/cardano-ecosystem-interactive-map" target="_blank" rel="noopener">Cardano ecosystem map</a>. It’s massive. Since 2017, plenty of projects built on Cardano. 
Next is their <a href="https://www.cardanocube.com/cardano-ecosystem-nft-map" target="_blank" rel="noopener">NFT ecosystem</a>. Yes, this is bigger compared to Sui. However, as we just saw, Sui is far ahead with their NFT tech. That will give them an edge. Cardano covers every crypto corner with its ecosystem. For example: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">DEX</li> 
 <li style="font-weight: 400;" aria-level="1">Wallets</li> 
 <li style="font-weight: 400;" aria-level="1">Education</li> 
 <li style="font-weight: 400;" aria-level="1">Infrastructure</li> 
 <li style="font-weight: 400;" aria-level="1">AI&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">DeFi</li> 
 <li style="font-weight: 400;" aria-level="1">Launchpads&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">Payment options</li> 
 <li style="font-weight: 400;" aria-level="1">Socials</li> 
 <li style="font-weight: 400;" aria-level="1">Memecoins</li> 
 <li style="font-weight: 400;" aria-level="1">Gaming and much more.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Four Pillars, a leading global crypto research firm in Korea, has produced a very comprehensive view of Sui's technology and the Sui ecosystem. 
 Dive in below <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/urQBpBfWFe">https://t.co/urQBpBfWFe</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1782818992043807066?ref_src=twsrc%5Etfw">April 23, 2024</a>
</blockquote> 
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Sui <a href="https://sui.directory/" target="_blank" rel="noopener">currently</a> has 85 projects. It spreads them out over 30 categories. Although some may overlap. But in all fairness, that also happened at Cardano. Some Sui projects are, for instance: 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://sui.directory/project/sui-wallet/" target="_blank" rel="noopener">Sui Wallet</a>&nbsp;is now also available for mobile.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://sui.directory/project/deepbook/" target="_blank" rel="noopener">Deepbook</a> — liquidity layer.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://www.sudo.finance/" target="_blank" rel="noopener">Sudo Finance</a> — RWAs &amp; Synthetics.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://sui.directory/project/chirp/" target="_blank" rel="noopener">Chirp</a> — DePIN.</li> 
</ul> 
So, Cardano’s got the upper hand here and pulls one back. They get a 3.5 out of 5 and Sui a 2.5. 
<h5>4) Operating Systems </h5> 
When we look at the operating systems of both chains, we see big differences.&nbsp;Cardano is an Unspent Transaction Output (UTXO)-based blockchain. That’s the same as <a href="https://explorer.bitquery.io/platform/bitcoin" target="_blank" rel="noopener">Bitcoin</a>, Litecoin, ZCash, or Dogecoin. 
The Cardano transactions have inputs and outputs. As such, an input is an unspent output from a previous transaction. So, it stores assets in unspent outputs. Are you still with me? It doesn’t store it in an account, like Ethereum does.&nbsp;Many consider the UTXO model as one of the most robust and best operating systems in crypto. 
On the other hand, Sui has an <a href="https://docs.sui.io/concepts/sui-architecture/consensus" target="_blank" rel="noopener">object-centric approach</a>. As we already saw with the previous Kiosk feature. That’s when I talked about their NFTs.&nbsp;It organizes its transactions with a DAG or Directed Acyclic Graph. This allows for parallel transaction processing. As a result, it reduces bottlenecks. 
<iframe title="Sui Blockchain vs Traditional Blockchain" width="696" height="392" src="https://www.youtube.com/embed/ItHXDdyZ_s0?start=39&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
I give Cardano here a slight advantage, although Sui comes in close. So, Cardano a 4 out of 5, and Sui is a 3.5. 
<h5>5) Compatibility Factors With Other Chains</h5> 
Interoperability is important in the crypto space. The various blockchains can’t talk or communicate with each other. Hence, we need bridges to send assets across different chains. The more chains it can connect to, the better a chain will thrive.&nbsp; 
The way Cardano is set up, it’s difficult to connect it to other chains. <a href="https://bridge.wanchain.org/#/AssetBridge" target="_blank" rel="noopener">Wanchain</a> is the only bridge, so far, that could crack this task. It connects Cardano with Ethereum. This allows for $BTC, $ETH, $USDT, and $USDC to get to Cardano. Sui, on the other hand, has various bridges. For example: 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://portalbridge.com/" target="_blank" rel="noopener">Portal bridge</a> — Built on top of Wormhole. It connects EVM and non-EVM chains.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://www.omnibtc.finance/" target="_blank" rel="noopener">OmniBTC</a> – Uses LayerZero as the bridge and Sui as the settlement center.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://suiswap.app/app/" target="_blank" rel="noopener">SuiSwap</a> — Offers 16 tokens from various chains you can swap.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://cryptopia.network/#/bridge" target="_blank" rel="noopener">CryptoPia</a> — Connects various chains. For example, ETH, ARB, OKBC, BSC, Solana, Polygon, or TRON.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://www.app.kriya.finance/bridge/heroswap" target="_blank" rel="noopener">KriyaDEx</a> — Connects 5 chains.</li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://yousui.io/bridge" target="_blank" rel="noopener">YouSUI</a> — Connects with Ethereum, Polygon, BSC, and Solana.</li> 
</ul> 
Here is an example of a partnership that can boost Sui’s compatibility with other chains: 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We are very happy to announce our partnership with @interest_dinero! 
 Interest Protocol operates a CLAMM DEX on <a href="https://twitter.com/hashtag/Sui?src=hash&amp;ref_src=twsrc%5Etfw">#Sui</a>. With built-in <a href="https://twitter.com/hashtag/Move?src=hash&amp;ref_src=twsrc%5Etfw">#Move</a> on Sui compatibility, Interest can deploy natively on the Movement Network, connecting their users and products to EVM users and liquidity <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Gj2odJWDjN">pic.twitter.com/Gj2odJWDjN</a> 
 — Movement (@movementlabsxyz) <a href="https://twitter.com/movementlabsxyz/status/1732161329954468274?ref_src=twsrc%5Etfw">December 5, 2023</a>
</blockquote> 
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No doubt here, Sui wins this with a street length. Sui a 4 out of 5 and Cardano a 2. This brings the final result to 3-2, in favor of Sui. In a shorter period in the mainnet of only a year, Sui is building more things that users want. &nbsp;Which chain do you use most of these two, and which app do you like best? Let me know in the comments. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a> 
<div class="youtube-embed" data-video_id="PjtECzihYeA">
 <iframe title="Why SUI Will OUTPERFORM Cardano ADA This Crypto Bull Run" width="696" height="392" src="https://www.youtube.com/embed/PjtECzihYeA?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Sui. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/why-sui-will-beat-cardano-this-bull-run/">Why SUI Will Beat Cardano This Bull Run?</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Why SUI Will Beat Cardano This Bull Run?

Altcoin Buzz

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