Sui (SUI) is an unparalleled blockchain and smart contract platform that aims to revolutionize the digital asset ownership scenario. It is designed with an object-centric model that enables parallel execution and sub-second finalization, thereby achieving a faster and more efficient digital asset transfer process.
It is a Layer 1 public chain redesigned and built from the first principles, allowing creators and developers to more easily build experiences that meet the future 1 billion users of Web3 from the bottom up. Sui's highly scalable processing and storage is also a prominent feature, allowing a wide range of applications to enjoy lightning-fast transaction speeds at a much lower cost.
Sui Team:
Sui co-founder and CEO Evan Cheng was previously responsible for the development of the Meta crypto wallet. While working at Novi Research, the team had the opportunity to delve into the complex layers of blockchain networks to challenge the performance and efficiency of blockchains. However, like most stories in the crypto world, the team was attracted by the attractive potential of blockchain technology and decided to leave their comfort zone at Novi Research and eventually founded Mysten Labs. The team's historical background includes 3 years of experience in advanced project research and development, such as the Diem blockchain, cryptographic proof of solvency, new high-performance consensus/execution strategies, and Move programming language development.
Sui's Advantages
One of Sui’s most important attractions is its horizontal scaling, which eliminates bottlenecks by processing multiple groups of transactions in parallel. Compared to earlier blockchains, this unique approach provides much-needed distinctions between various objects, resources, accounts, and other components. In addition, Sui’s object-centric perspective and horizontal scaling make it highly composable, making it easy to pass assets such as NFTs directly into function parameters.
Recently, Sui’s official Twitter account has also posted a series of messages stating that TVL is in a continuous rise, breaking through US$175 million on December 7, breaking through US$200 million on December 26, breaking through US$225 million on January 7, breaking through US$250 million on January 12, and breaking through US$275 million on January 13 to reach US$282 million.
Sui excels in technological innovation and attaches great importance to interoperability.
Sui uses the native programming language Move. Move is a programming language tailored for the Sui chain. It is designed to ensure the security and efficiency of smart contract development. The Move language originated from the Diem project. Its powerful asset processing capabilities and access control mechanisms greatly simplify the process of digital asset and transaction management, while putting security first.
Sui has excellent horizontal scalability, which is one of its main attractions. It can adapt to changes in network demand in real time, allowing validators to adjust computing resources on demand. This ensures that transaction costs remain low and stable even during network peaks, while incentivizing validators to allocate their network resources reasonably. In addition, Sui's scalable on-chain storage function makes it possible to create complex on-chain assets without relying on off-chain solutions, greatly simplifying blockchain asset management.
Sui can process non-sequential actions (such as asset transfers and NFT minting) in parallel, thereby improving the efficiency of transaction processing. Unlike traditional blockchains that require global consensus, Sui's "Byzantine Fault Tolerant Consensus" promotes high transaction throughput and low latency. This not only enables large-scale transaction processing, but also ensures almost instant transaction confirmation and strong security.
There are two main factors for Sui's rapid rise:
The Move Ecosystem Conference is held. Generally speaking, public chains will attract more attention by holding conferences in order to stimulate the vitality of the community.
Sui Ecosystem launched a high subsidy plan, which was the main driving force for the rapid growth of TVL and cross-chain activities. These two factors together promoted the rapid rise of Sui.
Sui's rapid rise has attracted widespread attention from the market. At present, in addition to Cetus, which has already issued tokens, DeFi lending projects Navi Protocol @navi_protocol and Scallop Lend @Scallop_io, which have not yet issued tokens, have become the focus of investors' close attention.
For these two projects, many people in the market have conducted in-depth analysis on their mechanism designs. According to the standard of total locked value (TVL), Scallop is called "Dragon One" and Navi is called "Dragon Two". However, from another perspective, Navi may have more advantages in some aspects. #BTC #sui
