SUI (SUI) - High-yield cryptocurrency, the main task of which is to make transactions instant and easily accessible.
Your Blockchain is programmed in Rust, the ideal programming language for fast and secure transactions.
The main objective of SUI is, with the help of Web 3, to attract millions of users thanks to Dapps.
SUI is built on the goal-centric model, where your data is objects instead of traditional accounts.
SUI Key Metrics (SUI)
What is SUI (SUI)?
SUI (SUI) is a high-throughput, low-latency platform using a Layer 1 chain. Its main goal is to achieve instant transactions, making it a prominent choice for on-chain use cases such as DeFi and GameFi. The SUI (SUI) blockchain is programmed in Rust, a programming language that focuses on fast and secure transaction execution. Rust is also the language used by Solana, another high-speed blockchain.
SUI's (SUI) core mission is to "serve the next 3 billion users on Web 3", offering superior decentralized application (Dapp) implementation and more advanced smart contract architecture compared to rival chains like Ethereum. To accomplish this, the blockchain uses a process called "transaction parallelization," which allows for the processing of transactions in a side agreement. This "horizontal scaling" approach, as described by SUI (SUI), improves data organization through a Byzantine fault-tolerant system implemented in proof-of-stake (PoS) and its consensus mechanism.
Sui was founded by a team of engineers who previously worked at Meta: Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias.
Before establishing Mysten Labs, the company behind the Sui blockchain, this group of five people worked in the Novi division. Mysten Labs was able to secure backing from leading venture capital funds, including a16z, which invested $36 million in a Series A funding round in December 2021. A $300 million Series B funding round was subsequently announced, leading the company's valuation to hit $2 billion. Funds that participated in Mysten Labs include: Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, LightSpeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O'Learning Ventures.
SUI (SUI): What makes it different, and why invest?
SUI (SUI) aims to outperform other layer one blockchains by using a different transaction processing and consensus mechanism. Rather than focus on scaling up, Sui is looking to scale out immediately, enabling the promised high performance that distinguishes this blockchain.
SUI (SUI) recognizes that many transactions are not related to each other. Instead of requiring each node to validate all transactions, the nodes only examine the data relevant to them. This is known as an "object-centric model", where the data in the chain is focused on objects rather than accounts. This avoids the traditional blockchain approach, where uncorrelated transactions are validated on an individual basis.
First, a sender submits all transactions, which are verified by the relevant validators. If the majority of the validators agree, the result is sent back to the sender, who broadcasts it to all validators. Relevant ownership models include ownership of an address (e.g., coins or NFTs), ownership of another object (an NFT that is part of another NFT), and shared ownership (e.g., AMM pools).
This architecture allows Sui to focus on verticals like NFTs, gaming, messaging services, social media, and decentralized identity platforms.
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