1. New Generation Blockchain Ecosystems
1.1. Problems of Old Generation Blockchains
Since Bitcoin's emergence in 2009, and especially after Ethereum launched the smart contract era in 2015, blockchain has made a significant leap. However, after nearly a decade of development, platforms like Ethereum, Bitcoin, or BNB Chain have begun to reveal many limitations:
🔴 Slow transaction speed (low TPS)
→ Ethereum only processes ~15–30 transactions/second (TPS) → easily congested when user numbers increase.
🔴 High transaction fees
→ During peak periods (e.g., NFT season 2021), fees could reach several tens of USD per transaction → causing inconvenience for ordinary users.
🔴 Unfriendly user experience
→ Requires specific wallets, complicated chain transfers, complex security → making it easy for newcomers to "give up".
🔴 Poor scalability
→ Blockchains like Ethereum struggle to "grow" while maintaining decentralization and security (blockchain triangle: decentralization – scalability – security).
✅ 1. Object-centric Data Model
Instead of accounts like Ethereum, Sui manages assets in the form of "objects".
Each asset is a separate object that can be created, transferred, and have its state changed independently.
→ Advantages:
✔ Increased parallel processing capability → multiple unrelated transactions can be executed simultaneously
✔ Reduced network congestion, improved overall performance
✅ 2. Parallel Execution
Unlike other blockchains that process transactions sequentially, Sui automatically identifies independent transactions to execute simultaneously.
If 100 people mint Non-Fungible Tokens at the same time → Sui can process all of them in an instant (while Ethereum must queue and process sequentially)
✅ 3. Move Language – Secure and Flexible
Move is a programming language developed by Meta, inheriting Rust's safety.
Outstanding advantages:
Very strict control of asset ownership
Reduces the risk of logical errors like "reentrancy" or asset loss (typical of many DeFi hacks)
2.3. Performance & Technical Characteristics
Cheap and Stable Gas Price
Currently in the market, most blockchains have highly volatile gas prices that change quickly, causing obstacles in user transaction experiences. Understanding this, Sui has designed gas in a different and almost unique market approach.
Specifically, Sui will divide activities into 24-hour epochs, where validators will only vote on a gas price reference for each epoch. Subsequently, when transactions occur in protocols, these protocols will send a certain incentive to validators to keep transaction prices as close to the reference price as possible throughout the epoch.
Narwhal & Tusk
Transaction validation work mostly lies in the hands of validators, and this inadvertently creates a certain threat to the blockchain if these validators are hacked or intentionally harm the network.
Narwhal & Tusk is the consensus mechanism used by Sui to isolate data transmission and consensus processes.
Tusk: Arranges and finds the order of transactions.
Narwhal: Preserves data availability when considered during the consensus process.
Scalability
Unlike other blockchains that arrange data into a block and then process them, Sui performs them in parallel by arranging data into independent objects through Byzantine Fault Tolerance consensus and Byzantine Consistent Broadcast.
Move Programming Language
Along with Aptos, Sui is also one of the projects inherited and developed based on the Move programming language from Diem. By using this language, Sui has avoided the shortcomings that Solidity brings to developers and users. Move allows users to have self-determination over their assets by defining them as customizable objects.
2.4. Sui Ecosystem: Rapidly Expanding
[The rest of the translation continues in the same manner, translating all text while preserving the XML tags]The Scallop lending platform is one of the first applications on Sui, serving a wide range of users, from beginners to experts. Users only need to put SUI into a pool and earn interest or participate in advanced lending strategies. In addition to lending, Scallop also supports swap and provides access to bridges.
Turbos Finance (TURBOS)
Turbos Finance is an AMM Dex platform using the Concentrated Liquidity Market Maker (CLMM) mechanism built on the Sui network. Turbos Finance's goal is to help Web3 users easily access DeFi while playing a pivotal role in the Sui ecosystem.
Tradeport
NFT Marketplace Tradeport launched on Sui after previous success on Near and Base blockchains. Tradeport's interface allows newcomers to easily find and buy Non-Fungible Tokens. Tradeport also has tools that enable users to mint their own Non-Fungible Tokens and perform advanced development.
Wave Wallet
Wave Wallet, which combines wallet functionality with gaming and uses Telegram as a server, has attracted significant activity on Sui. Users can play interesting games and use digital assets within a single interface.
BIRDS
BIRDS is also an application built on Telegram, pioneering the transformation of DeFi into fun games and providing users with an exciting experience. First, players need to nurture an egg, hatch and level it up until the egg hatches. Next, they need to feed the bird to make it healthier, faster, and able to unlock other advanced features.
FanTV
Video platform FanTV seeks to break YouTube and TikTok's monopoly by rewarding content creators more fairly. The application originated in India and is attracting viewers globally.
Aylab
Using Web3 for advertising, Aylab has achieved over 120 million distributed advertisements and over 95 million transactions. As an advertising platform, Aylab helps other projects attract and market users, and is an important part of Sui's business support model, similar to how Google transforms advertising on traditional internet.
Fomo
Fomo is a proof-of-work meme coin based on Telegram.
SuiLink
SuiLink promotes blockchain interoperability by linking users' Sui accounts with Ethereum or Solana accounts. The link is represented by a soulbound Non-Fungible Token.
High Throughput and Low Latency
Aptos uses parallel and modular transaction processing methods. This means that critical stages of transaction processing, including transaction transmission, metadata sorting, parallel transaction execution, storage, and ledger validation verification, are all performed simultaneously, maximizing hardware processing capabilities, improving resource utilization efficiency, and allowing effective parallel processing of multiple transactions. As a result, Aptos achieves significantly high performance and low latency.
Safe and Reliable
To minimize the risk of hacking and personal key loss, Aptos provides support for flexible private key changes for all accounts to enhance security. Additionally, Validators can periodically change their consensus keys to increase security.
Using Byzantine Fault Tolerance Consensus Protocol
Byzantine Fault Tolerance is a method to ensure that a distributed system can achieve consensus or agreement even if some nodes or members are faulty or malicious. It is based on the idea that as long as more than two-thirds of nodes are honest and trustworthy, the system can ignore faulty or malicious nodes and continue operating. By using Byzantine Fault Tolerance, Aptos has minimized blockchain issues, ensuring stable operation and achieving accurate consensus.
Transaction Transparency Before Signing
Current crypto wallets provide little transparency about transactions. As a result, users are often easily tricked into signing transactions that can steal assets and cause severe consequences. To address this issue, Aptos has introduced transaction transparency measures before signing, providing users with information about transaction results in a readable format. Combined with historical attack information and malicious smart contracts, this will help minimize asset losses for users.
Moreover, Aptos also allows wallets to define transaction constraints during execution. Violating these constraints will lead to transaction cancellation, protecting users from malicious applications or wallet attacks.
✅ With this speed, Aptos is fully capable of processing large-scale Web3 applications such as social networks, online games, decentralized exchanges, etc.
3.4. Ecosystem and Notable Applications
Although still quite new, Aptos has built a rapidly developing ecosystem, focusing on DeFi, Non-Fungible Token, and user-friendly experiences.
DeFi
DeFi plays a crucial role that any ecosystem must have. DeFi on Aptos is still in the building stage with many projects yet to launch tokens. Some notable DeFi projects in the Aptos ecosystem include:
Pontem Network: Top DEX Liquidswap on Aptos.
Hippo: First DEX Aggregator on Aptos.
Aries Market: An all-in-one decentralized financial platform allowing users to lend, borrow, and trade with leverage on the same platform.
BaptSwap: A pioneer organization focusing on providing safe and secure methods for individuals and businesses to develop innovative projects in the crypto space.
SwapGPT: AI-supported DeFi liquidity management and aggregation.
Abel Finance: A cross-chain lending platform built on the Move language.
Amnis Finance: Pioneer liquidity staking protocol on Aptos, audited by MoveBit and Verichain.
Wallet
There are quite a few wallet applications supporting Aptos Blockchain. Notable Aptos wallets include: Aptos Wallet, Pontem Wallet, Rise Wallet, Martian Wallet, Blocto, Flipper, Fewcha Wallet,...
Launchpad
Currently, there are 2 active launchpad projects on Aptos: Aptopad and Thala Launch.
Marketplace
Mercato: Fastest and most comprehensive NFT aggregation tool on Aptos, built for Non-Fungible Token traders.
BlueMove: Top Multi-Chain Non-Fungible Token marketplace on Aptos.
Topaz: Premiere Non-Fungible Token platform built on Aptos.
Souffl3: Top Non-Fungible Token ecosystem on Aptos and Sui.
Bridge
Aptos integrates bridge technology from renowned projects like LayerZero, Wormhole, Celer,... Additionally, there is Mover, a bridge project that allows asset transfer between EVM and non-EVM blockchains.
Non-Fungible Token and Gaming
Aptos Arena: Kill-to-Earn shooting game where players receive APT rewards after each round based on their kills.
Aptos Art Museum: First metaverse art exhibition in the Aptos ecosystem.
Proud Lions Club: A Play-to-Earn game with a lion warrior theme. Proud Lions Club was built on Ethereum blockchain, then moved to Aptos.
Werewolf vs Witch: Decentralized Non-Fungible Token game with a war theme on Aptos.
