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  • SUI SUI
  • ( 4.67 % )
  • Rank #62
  • Coins

₹115.55

₹ 115.55

  • Rank #62
  • Coins

Market Cap

₹132.28 B 5.9846%

Circulating Supply

1295900000

Max Supply

10000000000

Volume

₹24.23 B

All Time High :

₹180.98

All Time Low :

₹30.36

Price change in 24H :

₹4.7

24H High :

₹103.53

24H Low :

₹95.18


SUI Price Live Chart


Sui (SUI)

The SUI token serves as the inherent token within the Sui Layer 1 blockchain network. Its emphasis lies on rapid transactions, immediate transaction confirmation, and minimizing delays in smart contract implementation.


What Is SUI?

Sui represents a groundbreaking Layer 1 blockchain and smart contract system meticulously crafted to expedite digital asset ownership for everyone while ensuring speed, privacy, and security. Built upon the Move programming language and adopting an object-centric approach, it facilitates parallel execution, achieves sub-second finality, and accommodates diverse on-chain assets. With its horizontally scalable processing and storage capabilities, Sui offers unmatched speed at minimal expenses, making it conducive to various applications. This innovation marks a significant leap forward in blockchain technology, providing a fertile ground for creators and developers to craft exceptional, user-centric experiences.


Founders

Mysten Labs, the initial creators of Sui, was established by previous high-ranking members/primary architects from Meta’s Novi Research division (the team behind the Diem blockchain and Move programming language). This team comprises Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias.


Working Mechanism 

At the core of the SUI Blockchain's functionality lies its distinctive architecture, setting it apart from other blockchain systems. Taking a Layer-1 approach, the SUI Blockchain positions itself as a foundational layer catering to a variety of Web3 applications and purposes.

This architecture is tailored to tackle persistent challenges faced by current Web3 technologies, particularly focusing on performance and complexity.

One of the remarkable technological aspects of the SUI Blockchain is its inventive approach to smart contracts, facilitated by the SUI Move Language. Unlike traditional smart contract languages, the SUI Move Language prioritizes security, providing developers with a secure and adaptable toolkit for building decentralized applications.

The significance of the SUI Move Language is paramount within the SUI Blockchain framework. Its sturdy design, drawing inspiration from the Rust programming language, ensures a higher level of safety in comparison to other blockchain languages like Solidity. This emphasis on security holds great importance in an age where blockchain vulnerabilities and hacks have affected the trust and dependability of decentralized systems.

Furthermore, the SUI Move Language promotes data composability, enabling developers to handle data packages, including structs, more effortlessly and flexibly. This characteristic opens doors to creating advanced and secure smart contracts capable of addressing various real-world use cases.


UseCases / Uniqueness

Sui’s architecture addresses common issues found in earlier blockchains by incorporating features like horizontal scaling, composability, sparse replay, and on-chain storage.

Horizontal Scaling: In the Sui network, transactions operate in parallel, avoiding bottlenecks seen in older blockchains where different elements like objects, resources, accounts, and more, weren’t clearly delineated.

Composability: Sui differs from many other blockchains by enabling direct passing of assets, like NFTs, as function arguments. Its object-centric approach supports diverse data structures, allowing the storage of assets within these structures or directly as assets themselves.

Sparse Replay: Traditionally, blockchains record every transaction. However, in Sui, for instance, game developers can avoid tracking transactions unrelated to their specific dApps. This ability reduces the need for costly on-chain data querying, enabling products on Sui to track object evolution without extensive Merkle tree data retrieval.

On-Chain Storage: Assets are stored directly as objects on the Sui blockchain, eliminating the need for Merkle tree indexing. This approach complements conventional methods like IPFS, easing the burden of on-chain storage by enabling cost-effective direct updates of assets on-chain.


Future Development

While SUI has made considerable progress, it encounters hurdles in achieving wider acceptance, especially concerning developer adoption of SUI Move. The success of a blockchain ecosystem significantly relies on developers embracing a platform, and SUI aims to simplify the learning process associated with its distinctive programming language.

Moreover, SUI operates in a competitive landscape alongside an established Layer 1 blockchain, requiring concerted efforts to draw users and projects into its ecosystem. Enhancing transactional speed and throughput (TPS) is crucial to cater to the escalating needs of an expanding user base.

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SUI news

2 hours 15 minutes 40 seconds ago

KuCoin Labs Announces Its Strategic Investment in ISSP, the First Cross-chain Inscription Protocol on Sui, to Advance Users’ Inscription Experience

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach