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.
Cryptocoins News / CoinJournal - 11 months ago
SEC retracts request to classify ADA, MATIC, and SOL as securities in Binance suit.
Affected tokens include ADA, MATIC, SOL, BNB, BUSD, and others.
The shift in SEC’s stance follows increased pro-crypto political support in the US.
In a notab...
Bitcoin News / Google News Bitcoin - 11 months ago
Elon Musk Suddenly Breaks His Silence On Bitcoin After Issuing A Shock U.S. Dollar ‘Destruction’ Warning That Could Trigger A Crypto Price Boom& & Forbes
Cryptocoins News / Blockchain - 11 months ago
The Sui community launches Sui Guardians to combat scams and enhance user security, led by Suiet and the Sui Foundation. (Read More)
by COINS NEWS - 11 months ago
Are NFTs Securities Offerings? Two Artists Sue the SEC to Find Out ‘Song-A-Day’ Man artist Jonathan Mann and Law Professor Brian Frye have sued the SEC to help provide regulatory clarity for digital artists who use blockchain technology and NFT...
Bitcoin News / Google News Bitcoin - 11 months ago
Bitcoin Nashville Conference in Pictures: Orange Athena, Pink Suits, Polymarket Swag, Trump's Song& & CoinDesk
Cryptocoins News / CoinJournal - 11 months ago
San Francisco, California, July 24th, 2024, Chainwire
ETZ is transforming retirement planning by making digital assets available to retirees
ETZ, a premier service designed to simplify and enhance digital asset investing in retirement accounts, annou...
Cryptocoins News / CoinJournal - 11 months ago
Grand Cayman, Cayman Islands, July 23rd, 2024, Chainwire
Sui joins an exclusive list of AWS-integrated blockchains
Sui Foundation, the organization dedicated to the advancement and adoption of the layer 1 blockchain of the same name, today announced...
Cryptocoins News / Blockchain - 11 months ago
Amazon's AWS extends its Node Runners service to support Sui, simplifying the deployment of Sui nodes for infrastructure developers. (Read More)
Cryptocoins News / Blockchain - 11 months ago
Sui Bridge offers a secure, trust-minimized approach to asset transfer between Sui and other blockchain networks, enhancing interoperability and adoption. (Read More)
Bitcoin News / Bitcoinist - 11 months ago
Ripple CEO Brad Garlinghouse recently commented on the US Securities and Exchange Commission’s (SEC) long-running legal battle against his firm. This comes amid recent developments which suggest that the case could soon end.
SEC’s Lawsuit Against Ri...
Cryptocoins News / Blockchain - 11 months ago
Electric Capital's latest report highlights Sui's rapid growth in the Move developer community, showcasing significant increases in developer activity and engagement. (Read More)
Bitcoin News / Bitcoinist - 11 months ago
There have been rumours that the US Securities and Exchange Commission (SEC) and Ripple may be in negotiations to reach a settlement. A former SEC official has stepped in and provided insights on why that might not be the case.
Former SEC Official D...
Cryptocoins News / Finance Magnates - 11 months ago
FTX, a bankrupt cryptocurrency exchange, and the United States Commodities
Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement.
This agreement resolves a 19-month lawsuit. The settlement follows months of
negotiations and now...
Cryptocoins News / Blockchain - 11 months ago
The Sui Grants program has selected its first cohort of RFP grant awardees, aiming to foster innovation within the Sui ecosystem. (Read More)
Bitcoin News / Bitcoin.com - 11 months ago
Amidst a legal challenge, Tether, the USDT stablecoin issuer, has made a strategic appointment. The Chief Economist of crypto surveillance company Chainalysis, Philip Gradwell, has been brought on board as Tether’s Head of Economics. This move...
by COINS NEWS - 11 months ago
Plaintiffs in an ongoing class action lawsuit against Tether and Bitfinex have filed a new, slimmed-down complaint accusing the crypto companies of manipulating the crypto markets and violating antitrust laws. The second amended complaint, fil...
Cryptocoins News / Blockchain - 11 months ago
The Sui Gas Pool service allows developers to efficiently sponsor gas payments for transactions at scale, streamlining user onboarding and handling high concurrency needs. (Read More)
Cryptocoins News / CoinJournal - 11 months ago
Grand Cayman, Cayman Islands, July 11th, 2024, Chainwire
Zero Hash, the leading crypto and stablecoin infrastructure platform, today announced that its platform customers& can now enable the SUI token from Sui, the Layer 1 blockchain in permitted...
Cryptocoins News / Blockchain - 1 year ago
The Sui Indexing Framework provides customizable access to onchain data, enabling developers to build responsive applications and real-time analytics. (Read More)