As the Web3 space continues to grow, the interest in blockchain technology shows no signs of cooling down and the total blockchain market value is expected to reach US$67 billion by 2026. Hence, a lot of new technologies. , modern was introduced recently and Sui Blockchain is one of them. What makes Sui Blockchain so special, let's find out with the TraderH4 team through the article below.
Sui is a blockchain built with fast speed, high scalability, and low latency. According to the project, the platform can reach speeds of up to several hundred thousand TPS (transactions per second).
Sui Blockchain is the brainchild of Mysten Labs, an R&D company founded by former senior executives at Meta, the leading architects of the Diem blockchain and the Move programming language. The company is set to redefine the Web3 landscape and produce premium solutions that will prove appealing to developers and creators no matter where they come from.
Mysten Labs has raised US$300 million in a Series B funding round and that's why Sui Blockchain has solid leverage for future growth.
According to Sui's technical documentation, the platform is presented as consisting of three main components:
Sui Blockchain is written in the Move programming language based on Rust.
Move is an open source programming language for writing smart contracts securely. Created by Meta (formerly Facebook) programmers for the DIEM project (libra) – a Layer1 blockchain.
Move was created by Sam Blackshear and was created 3 years ago at the beginning of the DIEM project.
With the goal of becoming "Javascript for Web3" - a programming language that can be used to write smart contracts quickly, easily and securely.
According to the developers, Sui Blockchain comes with its own unique set of technical features, some of the most interesting of which are parallel transaction execution, simplified developer experience, Unique approach to security and enhanced UX for Web3 solutions.
By using Byzantine Consistent Broadcast, Sui was able to break consensus and execute multiple unrelated transactions in parallel. This exceptional feature leads to reduced latency and increased throughput
Also, compared to many other blockchains where transactions are split into traditional blocks, Sui validates them individually. Upon successful execution, each transaction will be issued with a validation certificate that ensures that the transaction will not be revoked.
Sui's blockchain-oriented Move programming language eases the developer experience. This means that programmers will be able to make fewer mistakes with the basics.
Another great benefit for Sui developers is that blockchain allows them to efficiently implement composable or dynamic NFT objects. This contributes to a more complex in-game economy and generates better feedback.
Compared to many other blockchains, Sui does not focus on strong synchronization assumptions on the network. Thus, the platform can maintain its security properties under unfavorable network conditions and circumstances such as network splits or DoS attacks.
The developers of Sui claim that it will enable engineers to create leading user experiences in the Web3 domain by providing them with many premium tools from the Sui Development Kit (SDK).
Besides, this blockchain platform promises to facilitate the development of:
Token Name: Sui
Ticker: SUI
Blockchain: Sui
Token Type: Utility, Governance
Total Supply: 10,000,000,000 SUI
Mysten Labs is the company that created the Sui Blockchain. The company was founded in September 2021 by the former engineers behind the Diem project and Meta company's Novi mobile wallet. Mysten Labs is led by chief executive officer Evan Chang, chief technology officer Sam Blackshear, chief product officer Adeniyi Abiodun and chief scientist George Danezis. In addition, Mysten Labs also has members with specialized backgrounds in economics, technology and mainly in the US & Europe.
Here are some outstanding achievements of the founding team of Sui Blockchain.
Sui raised $36 million in a Series A round led by a16z . Other participants include Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Samsung Next, Slow Ventures, Standard Crypto, NFX and Scribble Ventures…
Mysteb Lads continues to announce a successful $300 million Series B funding in early September 2022. Led by FTX Ventures and featuring participation from new and existing investors, including: a16z crypto , Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital and O'Leary Ventures. Together with other investment companies and strategic partners. With new capital, the company's valuation is more than 2 billion USD.
Just like with other blockchains, Sui Blockchain comes with its technical trade-offs.
However, all of these and other challenges will likely be resolved once Sui gains a broader momentum of development. For now, it's reasonable to expect complexity to be outweighed by the usability and performance perks of this blockchain platform.
It can be said that Sui Blockchain is quite promising and its technical features, development approach and aspirations seem to be on the right track in the goal of becoming a new generation of blockchain leading the trend in the next time. .
It is also true to say that Sui will face stiff competition from other blockchains and must continue to upgrade its ecosystem if it is to be adopted more widely.
Ngoài PancakeSwap, hệ sinh thái BNB Chain còn có một AMM khác có TVL đạt 150 triệu USD chỉ sau hai tháng ra mắt, dự án này được gọi là Thena.
UNQ Club is a project that provides a blockchain platform that allows investors to collect and manage existing NFT assets.
Blockade Games provides a platform that allows developers to create blockchain games. In addition, Blockade Games also creates many interesting free games.
In addition to a cryptocurrency storage wallet, SafePal is also known to many investors for its SFP tokens and airdrop events with attractive rewards.
BENQI is one of the important pieces of the Avalanche ecosystem. Join TraderH4 to find out what BENQI (QI) is as well as detailed information about the QI token.
What is IoTeX? This is a blockchain built and developed in conjunction with the Internet of Things (IoT). Join TraderH4 to learn this article.
What is OKB? OKB is an exchange coin of OKX and the OKX Chain blockchain. Let's learn about OKX and OKB exchanges with TraderH4 in this article.
The fever from Akita Inu in the Crypto market in the past time has created a great buzz along with the rapid development of the "dog house token".
DROPP GG brings an innovative and novel idea to provide an NFT mint platform based on geographies outside of the real world.
CronaSwap is a DEX built on Cronos Chain, which has a similar model to Uniswap.
