SUI is the focus of attention from the cryptocurrency investment community with promises of a revolutionary Layer-1 blockchain. So what is SUI? What makes this coin special? Let's explore in detail about SUI and its potential for development.
What is SUI?
SUI is the native cryptocurrency of Sui Network, a new generation Layer-1 blockchain designed to thoroughly address issues of speed, scalability, and transaction costs – major barriers to the development of current blockchains.
Unique operational structure of SUI
Sui Network operates based on the advanced Narwhal and Tusk consensus mechanisms, allowing for parallel transaction processing instead of sequential like traditional blockchains. This gives Sui superior processing speed, capable of reaching hundreds of thousands of transactions per second (TPS) with extremely low latency.
Outstanding features of Sui
Lightning transaction speed: Thanks to parallel processing, Sui achieves incredible transaction speeds, providing a smooth user experience without congestion.
Flexible scalability: Sui is designed to scale horizontally, meeting the growing demands of decentralized applications (dApps) without compromising performance.
Minimal transaction costs: Sui optimizes performance to maintain extremely low transaction fees, helping users save costs.
Move programming language: Sui uses Move, a programming language specifically designed for blockchain with high security capabilities, minimizing risks of attacks and errors.
Diverse dApps ecosystem: Sui is attracting interest from many projects and developers, forming a rich dApps ecosystem, including DeFi, NFT, GameFi, etc.
Tokenomics of SUI
The total supply of SUI is 10 billion tokens, allocated as follows:
Community: 50%
Early investors: 20%
Sui Foundation treasury: 14%
Mysten Labs: 10%
Strategic investors: 6%
SUI token has the main functions:
Pay gas fees: Used to pay for transactions and activities on Sui Network.
Staking: Participate in the consensus process and secure the network to receive rewards.
Governance: Vote on governance proposals for the system.
Impressive development team
Sui is developed by Mysten Labs, a company founded by former engineers from Meta (Facebook). The core team of Mysten Labs includes top experts in blockchain and cryptography, with experience working at technology giants such as Meta, Google, VMware, etc.
High-profile investors
Sui Network has received strong support from leading investment funds such as a16z, FTX Ventures, Coinbase Ventures, Jump Crypto, Binance Labs, Circle Ventures, etc.
Current development roadmap and ecosystem
Sui Network is currently in a strong development phase, focusing on expanding the dApps ecosystem and attracting users. Currently, Sui has several outstanding dApps in the fields of DeFi, NFT, GameFi, etc.
Sui's development roadmap focuses on:
Enhancing the performance and scalability of the network.
Developing tools and resources for developers.
Expanding the community and collaborating with other projects.
Where can you buy SUI?
SUI token is now listed on many major cryptocurrency exchanges, providing you with multiple options to buy and trade including Binance exchange, sign up and:Buy here, Binance exchange
Conclusion
SUI coin is a promising Layer-1 blockchain project, expected to make breakthroughs in the field of blockchain technology. With superior transaction speed, flexible scalability, low costs, and a diverse dApps ecosystem, SUI is attracting significant interest from the community and is expected to achieve great success in the future.
Note: Investing in cryptocurrency always carries risks. Please research thoroughly before making an investment decision.