Sui
Sui is a high-performance, decentralized Layer-1 blockchain designed for scalability, speed, and simplicity. Sui represents a major advancement in decentralized asset management, introducing a new paradigm for control and efficiency. Unlike traditional blockchains like Bitcoin and Ethereum, which process transactions sequentially, Sui uses a unique approach known as parallel execution. This allows multiple transactions to be processed simultaneously, significantly improving speed and efficiency. The Sui network is optimized for instant finality, parallel transaction execution, and scalability, making it a top choice for DeFi, NFTs, and play-to-earn gaming applications.
ABOUT SUI
The Sui Blockchain is a significant innovation in the world of cryptocurrencies, bringing a fresh perspective to digital transactions and financial systems.
Created by Mysten Labs, Sui aims to address the limitations of traditional blockchains by providing fast, low-cost transactions and enabling developers to build decentralized applications without sacrificing scalability.
The platform's innovative consensus mechanism is called Narwhal-Tusk, which separates the ordering of transactions from their execution.
It also utilizes Move, a Rust-based programming language that prioritizes fast and secure transaction executions.
SUI KEY FEATURES
Parallel Transaction Execution.
Users can execute independent transactions, especially those involving different types of assets, simultaneously without waiting for network congestion to clear.
Object-Centric Data Model.
Sui represents digital assets such as tokens and NFTs, using objects or data structures with unique owners and predefined rules.
Delegated Proof-of-Stake (DPoS).
Sui runs on a permissionless DPoS system that determines which nodes participate in consensus as validators.
Mysticeti Protocol.
Sui reduces transaction finality time using Mysticeti, a novel Byzantine Fault Tolerant (BFT) consensus protocol based on Narwhal and Tusk algorithms.
On-Chain Storage.
Sui stores assets directly on the blockchain instead of relying on off-chain solutions.
Sui Tokenomics.
Sui has a fixed supply of 10 billion SUI tokens. However, not all tokens are available for use at once.