I. Why Sui?
1.1 The Advantages of Sui
- The unlimited scalability of Sui Objects, with 20 million transactions per day exceeding Solana and ranking first among blockchains.
- Sui’s transaction confirmation time is 0.2s, achieving the smooth experience of Web2 internet products.
- Move language programming is relatively easy.
1.2 The Drawbacks of Sui
- No assets: Sui cannot quickly establish trust and accumulate assets as a new public chain.
- No users: Although Sui has excellent infrastructure with great speed, it needs more use cases and mass user adoption for now.
II. How to Solve These Problems?
Principle: If the mountain won’t come to me, I’ll go to the mountain. That is, bring the ETH/BTC ecosystem onto Sui.
Run ETH/BTC light nodes on Sui, and build their global states into system services on Sui, so Sui user contracts can access any account and operation on BTC and ETH networks anytime.
This removes the need for users to know about BTC and ETH, as long as they know Sui, they can interact within these networks.
Sui can implement super light nodes on the ETH network, so Sui contracts can easily interact with ETH contracts.
ETH/BTC products and users will naturally come to Sui, solving Sui’s lack of users, and also solving BTC and ETH’s scalability issues, allowing Sui’s high scalability advantage to be realized.
III. Future Imagination
3.1 All-Chain Super AA Wallet
Sui supports BTC/ETH/Sui account systems and allows mixing them into a multi-sig.
For example, we can use BTC, ETH, and Sui accounts in a 1/3 multi-sig to jointly control a Share Object on Sui. This Share Object is a super all-chain AA wallet on Sui, with the following features:
- Sending transactions on BTC, ETH, and Sui networks separately.
- Transferring ownership to others.
- Allowing social recovery to avoid asset lock-up if one dies.
- Taking on any business logic based on it as an expandable smart contract.
Let me give two examples:
1) BTC Lightning Network
Implementing BTC’s lightning network + light nodes on Sui can solve:
- Directly interact with the lightning network on Sui, solving opacity and centralization.
- Lock BTC/ERC20 via HTLC timelock, enabling smart contracts in Move on Sui.
2) Layer 2 Expansion for ETH
Sui and ETH as light nodes for each other can solve:
- Decentralized transfer of ETH/ERC20 assets to Sui.
- Sui boosts ETH’s speed and TPS.
IV. Explanation of “All-Chain”
“All-Chain” has two meanings now:
1) Sui calls its sharding “all-chain,” meaning all operations on-chain.
2) OmniBTC’s “all-chain” means supporting all major chains, i.e. all-chains.
The “all-chain” in this article is the second meaning.