I think there are two core projects we should pay attention to and the projects I am talking about are Aptos and Sui. The projects are kind of similar because they are both layer 1s, the blockchains that are been built from crashed. Begins with Aptos, which has been in development since 2018 by a team from Libra and Facebook. This came out of Meta and slip out, they started their own project. Some of them are building Aptos and others are building Sui. Aptos is already launched while Sui is yet to launch but there is a lot of activities going on between this two ecosystem. The big question is, Why is this a big deal, and why are layer 1s every important?
In the blockchain space, there is one major problem Bitcoin faces, Ethereum is facing and any other blockchains are facing and that is the problem of scaling. You can do a lot of a blockchain if it is not been used by millions of people at once, the problem is that there is so much demand for the service. Imagine if Twitter was run on a blockchain, the blockchain will basically freeze or it won't just work. Just like Bitcoin, whenever there are too many activities in the network, transactions are slower. On Ethereum, there are a lot of front-running transactions that are slower and transactions fee are expensive which makes them not scalable for the thing that matter in the world.
Every bull market, we have seen a new adoration of the blockchain. We have seen EOS, Solana, and many others come out claiming they will be better than Ethereum but they pretty much failed. Other came through saying they don't think building a blockchain from scratch works because there is a lot of compromised security and they actually are not useful even if they built them. Developers in the space resulted in starting their own layer 2 solutions. So they looked at Ethereum and say Ethereum is the best so far that we have when it comes to a blockchain platform from different applications.
They are building layer 2 solutions, and these are like Polygon, Arbitrum, and Optimism but seen that things are not working as they should because of some problems that Ethereum Solutions has. Some people in the space aren't comfortable with layer 2 which means a hunt for a real layer 1 blockchain that could change the world is still a question that we have to answer. It is the most important thing in the world, whoever gets it right will make a lot of money. So far we have seen Aptos and Sui haven't been emerging in the last few months. I am not saying Aptos is a great investment but I think this will dominate the bull market. When say dominant, I am not talking about it coin of this project itself, I am talking about Aptos as an ecosystem.
I am bullish on Aptos because some reasons. The first reason is that Aptos developers raised $380 million on it which is a good and bad thing. It is built and has an ecosystem that could scale but it is bad for the coin because a lot of VCs are holding the coin. A small group of people holding a bunch of coins could dump it on retail investors. Another reason I am bullish about the ecosystem is because of the developer's activities. The amount of development that is happening is massive. The ecosystem that wins is the one that has a lot of developers on it. Right now, Solana is losing a lot of its developers and a lot of them are running to the Aptos and Sui ecosystem which means these blockchains are more likely to dominate in the next bull market.
Good article
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Aptos did a shocking thing by rewarding its users with airdrops. I really like the ecosystem
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit