1. Basic Information
Name: SUI Token
Type: Cryptocurrency
Technical foundation: blockchain technology
Development Background:
One theory is that Sui was developed by the Diem team (formerly Facebook's Libra project team) with the aim of building a Layer 1 public chain.
Another version is that Sui was developed by SF Chain, a subsidiary of SF Holdings Limited, with the aim of optimizing business processes in the global express logistics sector.
Total limit: The total amount of SUI tokens is limited to 10 billion.
2. Main functions
Pay transaction fees: When conducting transactions on the Sui blockchain, users need to use SUI tokens to pay the corresponding transaction fees.
Incentivizing node operators: SUI tokens can also serve as incentives to encourage node operators to actively participate in the maintenance and expansion of the network.
Ecosystem Interaction: In the Sui ecosystem, SUI tokens are used for various interactive operations such as staking, voting, etc.
3. Technical Features
High Throughput: Sui Blockchain is capable of handling a large number of transactions, over 100,000 transactions per second, making it an ideal platform for high-throughput applications.
Low latency: The average block time of the Sui blockchain is less than 1 second, ensuring that transactions can be confirmed quickly.
Scalability: Sui adopts a parallel transaction processing method, which significantly improves the scalability of the blockchain.
Security: Sui blockchain uses the Byzantine Fault Tolerance (BFT) consensus mechanism to ensure the security and reliability of the network.
4. Application fields
Express logistics: SUI tokens can be used to improve tracking capabilities and transparency in the logistics process, simplify payment processes, and improve transaction efficiency.
E-commerce platform: In the field of e-commerce, SUI tokens can be used for payment and settlement to improve the security and convenience of transactions.
Supply Chain Finance: SUI tokens can also be used in the field of supply chain finance to automatically process payments, insurance claims, and other matters through smart contracts.
5. Market Performance
Price Fluctuation: The price of SUI tokens will fluctuate with changes in market supply and demand. Its historical price has fluctuated in different time periods. For example, it reached a historical high of $1.85 in May 2023, but fell back in the subsequent period.
Market recognition: SUI tokens have been supported by multiple exchanges and have been favored by some domestic and foreign funds, indicating that they have a certain degree of market recognition.
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