Layer by Layer: Mysticeti Upgrade Brings Performance Boost to Sui

Parallel execution has been an enduring theme in crypto markets over the past few years, driven largely by Solana's dramatic rise as one of the most heavily used blockchains in the world. In July, decentralized exchange (DEX) trading volume on Solana surpassed Ethereum for the first time after months of gaining market share, solidifying Solana’s growing dominance with respect to onchain DEX activity. Solana’s recent success can be largely attributed to the network’s ability to process transactions in parallel, which enables significantly higher throughput compared to networks that utilize the Ethereum virtual machine (EVM), all while maintaining low transaction fees. 

As of this writing, there are only a handful of blockchains aside from Solana that have been designed with parallel execution in mind. Two of the most notable chains are Sui and Aptos, both of which utilize execution environments powered by the Move smart contract programming language in order to achieve parallel execution.