Tim Kravchunovsky is the Founder and CEO of Chirp. A graduate of Columbia University’s Masters Program, he has over 20 years experience as a network engineer and previously consulted for the World Bank.
Looking at crypto news headlines, it would seem initially that Solana has firmly established itself as the home of DePIN. From Hivemapper to Helium, some of the most well-known DePIN projects are built on this blockchain. But when we explored Solana as a blockchain on which to build our project, something didn’t quite add up. So, after getting our analytical hats on and running the requisite due diligence checks, we decided to go with Sui over Solana.
When it comes to DePIN, and especially projects like ours, which handles huge amounts of data in real time, the two main things we require from a blockchain are reliability and scalability. When Solana first emerged as an “Ethereum-killer,” this was the most exciting thing about it – its promise to reliably process upwards of 50,000 transactions per second. In reality, though, it is of course far less than that under real-life conditions. For what we do at Chirp, that simply isn’t enough.
We believe Sui truly improves on the design of the blockchains from the last bull market, in our view getting closer than any other Layer1 to solving the infamous Blockchain Trilemma. It is cost-efficient, decentralized and secure. It boasts 100 validators, distributed across the globe, and its throughput has ranged from 10,871tps to a whopping 297,000tps.
What Sui does still hold over Solana, though – apart from transaction processing speed – are the lower costs and its ultra-secure programming language, Move. Cost-wise, the average gas fee on Sui for the last 30 days is just 0.003932633 SUI , while average fees on Solana have been as high as $0.03 at various points during recent months. Still a fraction of the fees on Ethereum, of course, but these things do add up.Of course, we’re not quite comparing apples with apples here.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Biden Chose Audience’s Right Side for His Trump DebateWith the help of a favorable coin flip, the president may have snatched an early lead before his face-off against Trump.
Read more »
Why 2025 in-state running back Bo Jackson chose Ohio StateWhy Lamar 'Bo' Jackson chose the Buckeyes and locked down his recruitment.
Read more »
Why most of Mobile’s newest crop of police officers chose to join the force'I woke up one more and was like, I've always wanted to do it. Let's take the plunge and do it.'And just like that, 49-year-old Robert Skinner left the shrimpin
Read more »
Why I Chose Bitcoin Ordinals to Release ‘Frontline’Alexis André is a French artist at the forefront of generative art who created top-traded “Friendship Bracelets” with Snowfro for Artblocks, which did over 18.3k ETH ($60M+) in secondary volume.
Read more »
New Cavaliers Forward D.J. Burns Explains Why He Chose ClevelandAfter going undrafted several weeks back Burns decided to join the Cavs summer league roster
Read more »
Klay Thompson Explains Why He Chose to Wear No. 31 With MavericksIt's a new team and a new number for the former Warriors star.
Read more »