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Solana or SUI: Which One Will Revolutionize the Future of Crypto?
1. Business overview
Solana
Solana was founded by Anatoly Yakovenko in 2017. Anatoly Yakovenko has almost two decades of experience building high-performance operating systems, including leading OS development at Qualcomm and holding engineering roles at Dropbox and Mesosphere. Yakovenko was one of the early adopters of Bitcoin and Ethereum and kept a close eye on the emerging blockchain industry. To address the scalability issues and slow transaction processing times of the legacy blockchain networks, Yakovenko founded a revolutionary blockchain which we know as Solana today.
The project was officially launched in 2020 Q1. Solana was then divided into two entities, namely Solana Labs and Solana Foundation. Solana Labs itself is tasked with developing various aspects of Solana’s technology, including the Proof of History (PoH) system. On the other hand, the Solana Foundation focuses on fundraising, building external partnerships, and developing the Solana community.
The specific goal of the project is to maintain a high-performance, low-cost and scalable decentralized platform primarily focused on enabling fast and cheap transactions. More precisely, Solana aims to become a foundation for applications that require high transaction throughput, such as Decentralized Exchanges, Payments, dApps and NFTs.
