Crypto Community Accuses Sui of Imitating On-Chain Activity
Date: 2023-07-19 Author: Karina Ziganova Categories: IN WORLD
A sharp surge in user activity on the Sui Network has divided the crypto community into two camps.
An increase in the daily number of transactions or active addresses is usually associated with an increase in interest in a particular blockchain. However, some members of the crypto community believe that the project team is deliberately misleading users.
On Monday, the number of transactions on the Sui blockchain reached an all-time high, surpassing Solana.
However, the growth was primarily due to the game engine SUI 8192, which records each action as a transaction. According to Artemis, in just 10 minutes, players added 1000 transaction blocks.
Analytics platform Artemis explained on Twitter that for Sui, it looks at blocks, not individual transactions.
"The data surge is not due to a large number of state updates in a small number of transaction blocks, but to the fact that the number of transaction blocks that users ultimately provide has increased significantly," Artemis explained.
Community members are unhappy with the actions of the Sui team
Members of the crypto community reacted ambiguously to the growth of the network's on-chain indicators. Well-known trader Andrew Kang tweeted:
"Sui is pumping up the numbers. The chart looks good, but the market doesn't seem to understand the credibility of the trades."
Some crypto enthusiasts supported Kang and called the activity "inorganic and manipulated." However, others still came out in defense of the blockchain. The developer of smart contracts BL0CKRUNNER commented
"The goal of this event is to reward early adopters in a fun and original way. Instead of airdropping like everyone else, Mysten issued 380k Bullshark NFTs, allowing holders to participate in quests and share a pool of 5 million tokens. Obviously, at the end of the event, the daily number of transactions will not be so high. So there's no need to worry."
Sui is a layer-one blockchain (Layer1) designed to serve high-performance decentralized applications. The operation and security of the network is provided by the Proof-of-Stake consensus algorithm. The developers launched the mainnet in May. Since then, the project has caused a lot of controversy for various reasons, and recent controversial events have only exacerbated the situation.
