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.
Cryptocoins News / CoinJournal - 5 months ago
Palo Alto, California, April 30th, 2024, Chainwire
Collaboration focuses on tackling key Web3 challenges through data-driven insights, AI-powered development tools and zero-knowledge proofs
Sui, the Layer 1 blockchain and smart contract platform crea...
Cryptocoins News / CoinJournal - 5 months ago
dYdX and Ethena have token unlocks of over $70 million and $45 million respectively scheduled for May 1
Sui and Memecoin cliff unlocks are set for May 3
AEVO and PYTH will see token unlocks exceeding $1.2 billion (at current prices) in May.
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Important Ripple v. SEC Lawsuit Developments, Bitcoin (BTC) Volatility, and More: Bits Recap April 25& & CryptoPotato
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Cryptocoins News / CoinJournal - 6 months ago
Grand Cayman, Cayman Islands, April 18th, 2024, Chainwire
The annual event is a culmination of Sui’s exceptional debut
Over 1,000 projects, partners, investors, and enthusiasts from 65 countries around the world gathered last week in Paris to c...
Cryptocoins News / CoinJournal - 6 months ago
SUI plunges 33% in a week, but experts believe bulls will take over soon.
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Cryptocoins News / CoinJournal - 6 months ago
Sui price rose more than 11% as Bitcoin and Ethereum declined below key levels.
SUI gains after ByteDance subsidiary BytePlus chose to enter Web3 via the Sui blockchain.
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Bitcoin News / Bitcoinist - 6 months ago
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Australian prosecutors have reportedly dropped Andrew Forrestβs lawsuit against technology giant Meta over the appearance of crypto scam advertisements with his face on Facebook. This development comes as a blow to the Australian billionaire, who is...
Bitcoin News / Bitcoin.com - 6 months ago
Mysten Labs, the company behind the development of Sui, a proof-of-stake blockchain project, has announced it is working on developing Suiplay0x1, a Web3-enabled gaming handheld. The organization did not reveal hardware specs but did state that the d...