“Later, when someone resembled you by a third, I became flustered.”

Recently studying @pharos_network has brought me the same excitement and anticipation I felt when exploring Sui at the beginning of 2022.

Another version of me in the world: Sui vs. Pharos

Positioning

Sui: A high-performance L1 blockchain, utilizing an innovative object-oriented data model and parallel transaction processing to achieve sub-second finality.

Pharos: The fastest EVM-compatible L1 blockchain, designed specifically for RWA and enterprise-level decentralized finance, dedicated to bringing high-quality RWA into Web3.

Team

Sui: Developed by Mysten Labs, the core team includes 4 former Meta Diem project engineers with a strong background in cryptography and distributed systems.

Pharos: The team has a strong “Ant Blockchain” gene, with CEO Alex Zhang previously serving as CTO of Ant Blockchain Business Group, and CTO Wishlonger previously serving as Chief Security Officer of Ant Financial's Web3 business, possessing extensive experience in fintech and blockchain.

Funding

Sui: Received investment from top institutions such as A16Z, Coinbase Ventures, and Binance Labs, with a valuation that once reached $2 billion.

Pharos: Completed $8 million in seed round financing in September 2024, led by Lightspeed Faction and Hack VC, with SNZ Capital as a strategic anchor investor.