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 - 8 months ago
The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes.
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Bitcoin News / Bitcoinist - 8 months ago
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Bitcoin News / Bitcoinist - 8 months ago
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Bitcoin News / Bitcoin.com - 8 months ago
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Cryptocoins News / CoinJournal - 8 months ago
GRAND CAYMAN, Cayman Islands, January 30th, 2024, Chainwire
In the past four months, Sui TVL has jumped by more than 1000%, vaulting the network past Base, Cardano, and Bitcoin in its meteoric DeFi rise
Sui, a leading Layer 1 blockchain that was crea...
Bitcoin News / Bitcoinist - 8 months ago
Steven Nerayoff, an early advisor to Ethereum, has provided an update regarding his much-anticipated lawsuit against the co-founders Vitalik Buterin, Joseph Lubin, and the Ethereum Foundation. The lawsuit, rooted in allegations of corruption and frau...
Cryptocoins News / CoinJournal - 8 months ago
GRAND CAYMAN, Cayman Islands, January 29th, 2024, Chainwire
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Users will benefit from 0% gateway fees for accessing SUI tokens on Banxa for a limited time.*
(*Fee waiver is not available for UK customers)
Banxa, the leading payments infrastructu...
Cryptocoins News / CoinJournal - 8 months ago
Memeinator is approaching $4 million in its token sale.
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Sui and Monero have been in a strong uptrend lately.
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Bitcoin News / Bitcoin.com - 8 months ago
U.S. presidential candidates Robert F. Kennedy Jr. (RFK Jr.) and Donald Trump have independently promised the American people to stop the creation of a central bank digital currency (CBDC) in the U.S. if elected President. “I will protect Ameri...
More / Bitcoin Reddit - 8 months ago
Hey guys whenever thus guy pops up in my feed I wonder how this lawsuit can go on for so long ? If he claims to be Satoshi why does he not simply move a couple of stats or sign a transaction with Satoshis key?! What has been his response to tha...
More / Bitcoin Reddit - 8 months ago
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by COINS NEWS - 8 months ago
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Cryptocoins News / CoinJournal - 8 months ago
Grand Cayman, Cayman islands, January 25th, 2024, Chainwire
Gaming, Ecommerce and DeFi applications are leveraging Sui’s singular social authentication to eliminate the biggest hurdle blocking mainstream audiences from web3.
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Bitcoin News / Bitcoinist - 8 months ago
In the XRP lawsuit, Ripple Labs Inc. has submitted a motion to file a sur-reply in response to what it terms as “significant factual mischaracterizations” by the US Securities and Exchange Commission (SEC), intensifying the ongoing case....
Bitcoin News / Bitcoinist - 8 months ago
The United States Securities and Exchange Commission (SEC) Commissioner Hester Peirce, often called “Crypto Mom” for her positive stance on cryptocurrencies, shared insights concerning Ethereum in a recent interview with Coinage Media.
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Cryptocoins News / CoinJournal - 8 months ago
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Bitcoin News / Bitcoinist - 8 months ago
In a stunning legal battle, cryptocurrency lender Nexo has filed a $3 billion lawsuit against Bulgaria, accusing the Balkan nation of unlawfully targeting the company with a politically motivated investigation that ultimately collapsed.
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Cryptocoins News / Blockchain - 8 months ago
Mysten Labs collaborates with Alibaba Cloud to enhance the Sui blockchain ecosystem, introducing AI-assisted development tools, educational programs, and global infrastructural support. (Read More)
Bitcoin News / Bitcoinist - 8 months ago
Ripple looks to have one less legal battle to worry about following a recent revelation that it had reached a settlement in one of its long-running legal battles. This comes at a time when the crypto firmβs case against the Securities and Exchange Co...