Sui
Sui is an innovative layer-1 blockchain platform crafted to meet the demands of global adoption, providing a secure, robust, and scalable development environment. Rooted in a unique object-centric data model and fortified by the trusted Move programming language, Sui is engineered to tackle the inefficiencies found in current blockchain frameworks.
In addition to its solid technical underpinnings, Sui places a strong emphasis on user experience, aiming to remove common barriers encountered in blockchain interactions. Through groundbreaking features such as zkLogin, sponsored transactions, and programmable transaction blocks, Sui sets a new standard for user accessibility and friendliness within Web3 applications.
Unique elements of Sui
Sui’s innovative architecture ensures swift transactions with stable fees and high throughput through horizontal scaling. Its object-oriented design offers deep composability for developers, enabling tailored object types with network-wide compatibility. This revolutionizes asset and protocol collaboration, fostering product innovation.
The platform's object-oriented approach dramatically improves transaction processing, enabling parallel execution and faster completion times. Additionally, unique consensus requirements expedite transaction finalization while maintaining stability. Sui prioritizes overcoming Web3 adoption barriers, offering native tools like zkLogin and sponsored transactions for wallet onboarding and fee management.
Move integration into Sui's data model combines innovation with security, mitigating common exploits found in smart contract languages. This empowers developers and users with a secure and intuitive platform, accelerating the evolution of Web3 applications.
About the Sui token
The SUI token serves four primary functions within the Sui ecosystem:
Proof-of-stake participation - Sui implements a delegated proof-of-stake mechanism, rewarding honest behavior by validators and SUI token holders who stake with them.
Gas fee payments - SUI tokens cover gas fees for executing transactions and storing data onchain.
Application utility - SUI is a versatile asset, integral to various applications within Sui’s ecosystem, including decentralized exchanges, lending platforms, gaming, and more.
Governance - The SUI token empowers holders to participate in on-chain voting on significant matters like protocol upgrades and platform changes, shaping the future of Sui.
Additionally, the Sui storage fund ensures fair compensation for validators by distributing stake rewards over time and covering storage costs for previously stored on-chain data. This tokenomic strategy promotes indefinite data storage while maintaining fair compensation for validators, fostering long-term sustainability.
Bitcoin News / Bitcoin.com - 4 months ago
As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation....
Cryptocoins News / CoinJournal - 4 months ago
Grand Cayman, Cayman Islands, May 23rd, 2024, Chainwire
With the addition of the Mesh platform, Sui Wallet will achieve product parity with the world’s largest self-custody wallets, while Mesh now natively supports the SUI token
Sui, the pionee...
Bitcoin News / Bitcoinist - 4 months ago
The long-running legal battle between the Securities and Exchange Commission (SEC) and Ripple is one step closer to an end with the Commissionโs latest filing. The court is expected to give its judgment soon enough, as both parties have filed all nec...
Bitcoin News / Bitcoinist - 5 months ago
May 20 is an important day in the long-running legal battle between the Securities and Exchange Commission (SEC) and Ripple. The Commission is expected to file a response to the crypto firmโs motion, which seeks to protect the companyโs business inte...
Cryptocoins News / CoinJournal - 5 months ago
Grand Cayman, Cayman Islands, May 16th, 2024, Chainwire
With the launch of Netki’s DeFi Sentinel on Sui, protocol developers can opt to screen transactions before finalization on the blockchain, easing a significant compliance burden
Today, Net...
Bitcoin News / Bitcoin.com - 5 months ago
Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 mi...
Bitcoin News / Bitcoin.com - 5 months ago
Ripple Labs has filed a motion to seal remedy documents in its ongoing litigation with the U.S. Securities and Exchange Commission (SEC). Ripple argues that these documents contain sensitive information, including proprietary business strategies, fin...
Cryptocoins News / Blockchain - 5 months ago
A look at the top three mobile wallets on the Sui blockchain ecosystem: Surf Wallet, Nightly, and Sui Wallet. (Read More)
Bitcoin News / Bitcoinist - 5 months ago
Toronto-based Bitcoin mining company Bitfarms has announced the termination of its interim president and chief executive officer (CEO), Geoffrey Morphy after he filed a $27 million lawsuit against the company.ย
According to Bloomberg, the lawsuit all...
Bitcoin News / Bitcoinist - 5 months ago
Coinbase, a leading cryptocurrency exchange, finds itself embroiled in a multi-front legal war. From disgruntled investors to the watchful eye of the SEC, the company faces challenges that threaten its operations and cast a shadow over the future of...
Cryptocoins News / Finance Magnates - 5 months ago
The American cryptocurrency exchange, Coinbase, is embroiled in yet another class-action lawsuit. This lawsuit alleges that investors were misled into purchasing tokens classified as unregistered securities. Filed last Friday, the class action also c...
Bitcoin News / Bitcoin.com - 5 months ago
Sui, a scalability-focused blockchain, has surpassed Solana, a top 10 cryptocurrency network, in activity levels, registering 41 million transactions on April 3. The activity overheating on Sui is caused by ‘spam’, a Sui native token desi...
Bitcoin News / Bitcoin.com - 5 months ago
A new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, th...
by COINS NEWS - 5 months ago
The Judge ruled last year that secondary sales of XRP "retail buyers" was legal and that XRP is not a security but also ruled that institutional sales of XRP were illegal. So, my question is .......since institutional sales of XRP were deem...
Cryptocoins News / CoinJournal - 5 months ago
Grand Cayman, Cayman Islands, May 3rd, 2024, Chainwire
Protocol launches, growth trajectory, and industry-leading technology point toward more success to come
On the first anniversary of Sui’s Mainnet launch, the Sui community is celebrating a...