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 / Bitcoinist - 6 months ago
In a dramatic conclusion to a five-year legal saga, Craig Wright, the controversial figure who claims to be the elusive creator of Bitcoin, has dropped his lawsuit against a prominent Bitcoin enthusiast known as Hodlonaut.
The culmination of this len...
Bitcoin News / Bitcoin.com - 6 months ago
The stablecoin issuer First Digital Labs has announced its intention to debut its dollar-pegged token FDUSD on the Sui network. This collaboration is described as a “strategic alliance aimed at enhancing liquidity and efficiency of transac...
Cryptocoins News / CoinJournal - 6 months ago
Sui has integrated First Digital USD (FDUSD) stablecoin, joining Ethereum and BNB Chain as only networks currently with native FDUSD support.
FDUSD’s expansion to Sui targets the growing decentralised finance (DeFi) ecosystem on Sui.
FDUSD is...
Cryptocoins News / Finance Magnates - 6 months ago
Steven
Nerayoff, a prominent early advisor to the Ethereum network, has filed a $9.6
billion lawsuit against the United States government. The lawsuit, filed under
the Federal Tort Claims Act (FTCA), alleges that federal agents knowingly
pursued fal...
Cryptocoins News / Blockchain - 6 months ago
Steven Nerayoff, an early adviser to the Ethereum network, has filed a lawsuit against the United States government for false charges and mistreatment. The lawsuit, filed under the Federal Tort Claims Act, seeks $9.6 billion in damages for an extorti...
Cryptocoins News / CoinJournal - 6 months ago
Paris, France, April 10th, 2024, Chainwire
Sui Basecamp, the inaugural global conference for the Sui ecosystem opened its doors today in Paris, welcoming developers and entrepreneurs from around the world as they celebrate Paris Blockchain Week.
A tw...
Bitcoin News / Google News Bitcoin - 6 months ago
Bitcoin ETF Boom Could Face Legal Trouble! Peter Schiff Predicts Investor Lawsuits& & Coinpedia Fintech News
Cryptocoins News / Blockchain - 6 months ago
BitMEX co-founder Ben Delo faces a class-action lawsuit over alleged market manipulation, with a U.S. judge ruling that he played a central role in designing a liquidation system that allowed the exchange to profit from the scheme. (Read More)
Cryptocoins News / CoinJournal - 6 months ago
Dubai, UAE, April 9th, 2024, Chainwire
dWallet Network, a trailblazer in decentralized, native multi-chain technology, and Mysten Labs, a Web3 infrastructure company and the original contributor to Sui, announced their strategic partnership, focusing...
Cryptocoins News / CoinJournal - 6 months ago
Investors flock to& Milei Moneda ($MEDA)& for recovery, anticipating& high returns.&
SUI’s TVL& surpasses& that of Cardano (ADA) and Near Protocol (NEAR).&
Toncoin (TON) experienced a& 17% decline& from it...
by COINS NEWS - 6 months ago
A scammer creating fake Privnote websites accidentally exposed their operation. These phishing sites look like the real Privnote but steal cryptocurrency by replacing wallet addresses in messages. The scammer threatened to sue a software company for...
Bitcoin News / Bitcoinist - 6 months ago
For the past week, crypto exchange KuCoin has been at the center of a regulatory tornado. The charges filed last Tuesday include breaking several regulations and violating anti-money laundering (AML) laws in the United States.
A recent report reveals...
Cryptocoins News / CoinJournal - 6 months ago
Shiba Inu, one of the pioneers of meme coins, has recently struck gold with a new exchange listing, signalling a significant milestone for the project. Meanwhile, Monero and Rebel Satoshi ($RBLZ) are poised to capitalize on this momentum, gearing up...
Cryptocoins News / Blockchain - 6 months ago
Tron Foundation moves to dismiss an SEC lawsuit, claiming the U.S. regulator oversteps its authority by targeting foreign digital asset offerings. (Read More)
Bitcoin News / Bitcoinist - 6 months ago
Tron’s founder Justin Sun, The Tron Foundation, and other defendants in the US Securities and Exchange Commission (SEC) lawsuit have presented a motion to dismiss the regulator’s complaint due to a lack of “jurisdiction” and “regulatory guidanc...
Cryptocoins News / CoinJournal - 6 months ago
Key takeaways
Dogecoin is the best performer amongst the top 10 cryptocurrencies by market cap this week.
Bitcoin Dogs prepares to carry out the biggest NFT mint on Bitcoin following its presale.
DOGE tops $0.20 after this week’s rally
DO...
Cryptocoins News / CoinJournal - 6 months ago
Grand Cayman, Cayman Islands, March 28th, 2024, Chainwire
March DEX volume on Sui stands at over $2.88B &- up more than 49% from February &- with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.
Sui, the fast ascen...
Cryptocoins News / Blockchain - 6 months ago
US District Judge has dismissed an antitrust lawsuit targeting Apple, where Venmo and Cash App users claimed Apple Cash had an anti-competitive edge. (Read More)