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 / Google News Bitcoin - 1 week ago
Residents in rural Texas are suing their noisy neighbor: a humming bitcoin mining facility& & Business Insider
Bitcoin News / Bitcoinist - 1 week ago
Bitnomial Exchange, LLC has filed a lawsuit against the US Securities and Exchange Commission (SEC) and its commissioners on October 10, contesting the SEC’s claim that XRP is a security. The complaint, lodged in the United States District Cour...
Bitcoin News / Google News Bitcoin - 1 week ago
Crypto Analyst Says Bitcoin in a Potential Big Move Upwards, Updates Outlook on Sui, Aptos and Eigenlayer& & The Daily Hodl
Cryptocoins News / Finance Magnates - 1 week ago
Iris Energy
Limited, the publicly listed Wall Street Bitcoin (BTC) mining company (NASDAQ:
IREN) that recently pivoted to promoting itself as a high-performance computing
(HPC) data center operator, is facing a class action lawsuit alleging it
misrep...
Cryptocoins News / Blockchain - 1 week ago
Circle has released a comprehensive guide detailing the migration process from bridged USDC to native USDC on the Sui Mainnet, emphasizing best practices and benefits. (Read More)
Cryptocoins News / Finance Magnates - 1 week ago
The number of crypto-related litigations brought by
the SEC increased four times in the third quarter compared to the prior
quarter, according to a recent study. This comes as the sector faces
intensified scrutiny amid heightened enforcement actions...
Cryptocoins News / Blockchain - 1 week ago
USDC, a major stablecoin, is now available on the Sui Mainnet, enhancing liquidity and value transfer within the DeFi ecosystem as Sui's TVL surpasses $1 billion. (Read More)
Cryptocoins News / CoinJournal - 1 week ago
Grand Cayman, Cayman Islands, October 8th, 2024, Chainwire
Sui is the first Move language-based blockchain with native USDC
Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and Circle, the issuer of U...
Bitcoin News / Bitcoinist - 1 week ago
On Tuesday, digital asset exchange Crypto.com became the latest target of the US Securities and Exchange Commission (SEC), which has been increasingly employing a regulation-by-enforcement strategy over the past year. This latest action follows the S...
Bitcoin News / Bitcoin.com - 1 week ago
Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), challenging the regulator’s authority over the sale of digital assets on secondary markets. The lawsuit, filed in the United States District Court for th...
Cryptocoins News / Blockchain - 1 week ago
Circle has introduced native USDC on the Sui blockchain, enabling seamless access to USDC liquidity without bridging. This development supports Sui's expanding ecosystem of over 85 applications. (Read More)
Bitcoin News / Bitcoinist - 2 weeks ago
Charles Hoskinson, the founder of Cardano (ADA), addressed the crypto community from London amid a European tour that included Italy and Switzerland on Sunday. In a video update, Hoskinson dispelled rumors about his commitment to ADA while offering i...
Bitcoin News / Google News Bitcoin - 2 weeks ago
Neighbors of Texas bitcoin mine file lawsuit over noise pollution from the growing site& & San Antonio Express-News
Bitcoin News / Bitcoinist - 2 weeks ago
The US is entering the fray as it backs a class-action lawsuit against tech giant and graphics processing units manufacturer, Nvidia Corp. The Department of Justice and Securities and Exchange Commission are appealing to the Supreme Court to revive a...
Cryptocoins News / Finance Magnates - 2 weeks ago
Crypto startup Lejilex and the United States Securities and
Exchange Commission (SEC) are engaged in a legal battle over the classification
of cryptocurrencies. Both parties have submitted competing briefs for summary
judgment in a Texas federal cour...