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.
by COINS NEWS - 1 year ago
Liquidators/bankruptcy lawyers are proving yet again their ineptitude when it comes to navigating crypto restructuring. Between Celsius lawyers casually ignoring a $7M claim in the Voyager bankruptcy, and FTX lawyers withdrawing collateral and liquid...
Cryptocoins News / The Cointelegraph - 1 year ago
The total supply of the SUI token is capped at 10 billion coins, with tokens running on a delegated proof-of-stake consensus algorithm. Major cryptocurrency exchanges...
Cryptocoins News / EthereumWorldNews - 1 year ago
The core SUI team asked Binance, ByBit, KuCoin, OKX, and other crypto exchanges not to list perpetual trading contracts for the token that was issued today.At least four major exchanges committed to supporting SUI trading on spot pairs with other to...
Cryptocoins Exchanges / Kraken - 1 year ago
We’re thrilled to announce that Sui (SUI) is now available on Kraken! Funding and trading SUI funding and trading are live. Add SUI to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. Already have SUI and a Kra...
Cryptocoins News / The Cointelegraph - 1 year ago
A law firm backing an FTX investor lawsuit served a crypto influencer in a tweet. A cryptocurrency YouTuber has been served a lawsuit through a tweet after a United St...
Cryptocoins News / The Cointelegraph - 1 year ago
The suit charges the alleged inside traders saved over $1 billion by selling their shares when the company went public despite knowing they would lose value. A Coinbas...
Cryptocoins News / CoinJournal - 1 year ago
Sui IOU price continued rising ahead of the project’s mainnet launch. According to CoinMarketCap, the token has jumped by more than 20% in the past 24 hours to $2.20. In all, the token has risen by over 23% in the past few days even as mainstre...
Cryptocoins News / The Cointelegraph - 1 year ago
Emin Gün Sirer, the founder and CEO of Ava Labs, has been awarded millions in damages after an influencer publicly accused him of being part of a Turkish terrorist group in 2021....
Cryptocoins News / The Cointelegraph - 1 year ago
The proposed class action lawsuit alleges the exchange violated privacy laws in Illinois when it collected and stored users' fingerprints and facial scans. Coinbase vi...
Cryptocoins News / EthereumWorldNews - 1 year ago
Justin Sun transferred 56 million TUSD to Binance earlier today.& The transaction was flagged by the crypto community who accused Sun of farming today’s SUI airdrop.& Binance CEO Changpeng Zhao warned Sun against using the whale transfer to...
Cryptocoins News / The Cointelegraph - 1 year ago
Nearly $4 billion has been staked in Binance’s Sui farming pools in anticipation of the layer -1 blockchain’s airdrop. On May 1, Binance CEO Changpeng “CZ” Zhao issue...
by COINS NEWS - 1 year ago
Changed plans after CZ scolded him ???? submitted by /u/Darkman5696 [link] [comments]
by COINS NEWS - 1 year ago
According to on-chain data provider "WhaleAlert", TRON founder Justin Sun is on the move. According to the data, Sun has been transferring a significant amount of True USD to Binance in order to attempt a grab on SUI token in Binance...
Bitcoin News / Bitcoin.com - 1 year ago
Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the “missio...
Bitcoin News / Bitcoin.com - 1 year ago
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat ind...
by COINS NEWS - 1 year ago
It Is Unclear How The Legal Strategy Will Unfold For The Firm, Which Has Built Its Business Model Around Compliance In July 2022, Coinbase filed a rulemaking petition with the SEC, ‘requesting that the Commission propose and adopt rule...