The #SUI project aims to reduce the delay in execution times of smart contracts and ensure the smooth operation of decentralized applications. Sui's innovative features include parallel execution system, transaction fee mechanism, and consensus system. #BTC
By using the Proof-of-Stake (#PoS ) mechanism underlying #Ethereum , Sui creates a more sustainable blockchain ecosystem by ensuring energy efficiency and security. With these features, Sui is considered an important step in the field of blockchain technology.
Evan Cheng, Sam Blackshear and Adeniyi Abiodun, CEO, CTO and CPO of Mysten Labs, have been appointed to senior executive positions at Meta. Sui raised $300 million in its Series B investment round at a valuation of $2 billion. Investors include companies such as Binance Labs, a16z, Coinbase Ventures and FTX Ventures.
The Sui blockchain differs from other blockchains thanks to its ability to scale horizontally and perform instant termination. In addition, faster transactions can be carried out with low transaction fees, horizontal scaling and high-speed transaction capacity.
Sui also has the feature of being a less energy consuming and environmentally friendly blockchain by using Proof of Stake. Assets are stored directly in users' accounts and can create more utilities on #NFT s.
Sui is considered an important step in the field of blockchain technology and holds an important place in the future of decentralized applications with its innovative features.
This article is for informational purposes only and is not a recommendation for personal investment decisions.