The Spam token is responsible for these high revolutions experienced by Sui.
Sui, a blockchain focused on scalability, recently surpassed Solana in network activity. Thus, on May 3, said network registered 41 million transactions.
Spam is an active Sui token, which aims to stress test the network’s capabilities. To do this, it assigns tokens to users, equivalent to the number of transactions made. According to information provided by the Artemis statistics portal, the momentum of this token overwhelmed some of the most powerful multipurpose networks.
Sui is considered one of the most promising blockchains in the cryptocurrency market, due to its extensive capacity in processing transactions with minimal commission costs. Thus, the first layer offers enormous advantages over large ecosystems like Ethereum.
In addition, Sui has a team of high-level experts. Some of its developers come from the Meta cryptocurrency project, formerly known as Facebook. That is, it is as if it were Diem, but without Mark Zuckerberg behind it.
On May 4, @MartyParty, crypto Commentator and host of X Spaces, published the following:
“Update on @SuiNetwork loadtest this week: The #SUI network has seen a successful community driven loadtest using the http://spamsui.com web miner platform this week. Numbers are impressive peaking at 863 tps settling at 650tps (…)
SUI initiated a controlled load test in July 2023 hitting 60m+ transactions but this community test is the next phase in testing this Gen 3 layer 1.”
Does Sui Have the Conditions to Overcome Solana?
Now that Sui has surpassed Solana in activity volume, some bold claims have emerged, including social media users asserting that Sui could make Solana obsolete, just as Solana once did with Ethereum.
Regardless of whether this opinion has any valid basis, the truth is that the results of the recent Spam test could be considered extraordinary. Experts like MartyParty maintain that, during the test, 65 million transactions were operated on the network fluidly and without problems.
MartyParty asserted via X that the blockchain’s performance reached 863 transactions per second (tps). Those numbers are expected to continue increasing as more tokens are issued. Until now, it is said that approximately 60 thousand users have participated in said test.
Those who developed the Spam token created a complex mechanism, with a wallet from which users can carry out their operations. Additionally, rewards for transactions sent in this stress-proof coin can be calculated from there. The fact that Sui has surpassed Solana in said test does not necessarily imply that Sui has more users.
Meanwhile, What Is Happening with Solana and Ethereum?
Amid the surge in Sui trading, Solana is in a battle to recover from a notable downtrend since last month, when it retreated from highs near $200, to its current price of around $146.18.
Ethereum, on the other hand, remains stable with an approximate price of $3,137.08, reflecting the most recent figures. Amid this stability, Ethereum is experiencing an increase in the creation of new wallets, with a figure of 267,000 registered. This indicates renewed interest in Ethereum, as well as increased participation in its ecosystem, reflecting its enduring appeal.
By Audy Castaneda
