What is it?
The Sui network is an under-development Layer-1 blockchain network designed for decentralized applications (dApps) by offering high transaction throughput, security and scalability.
Why
The Sui network aims to overcome the limitations of existing blockchain networks such as slow transaction speeds and scalability issues. It aims to provide a platform for dApps that is fast, secure and focuses on usability and developer experience.
How (How)
The Sui network uses several technical features to achieve its goals:
Proof-of-Stake (PoS): Ensures network security and efficiency by delegating coins instead of mining.
Object Capacity Model: Increases security and flexibility by granting users precise controlled access to their digital assets.
Transaction Parallelization: Increases transaction throughput by allowing transactions to be processed simultaneously.
Light Clients: Enables active participation in the network without downloading the entire blockchain.
From (Where)
Although the Sui network is still in development, you can follow the official channels:
Website: Sui website: https://sui.io/
Documentation: Sui documentation: https://docs.sui.io/
Kim (Who)
The Sui network is being developed by Mysten Labs, a research and development company founded by former Meta employees. The team is experienced in blockchain technology and aims to create a user-friendly platform for developers and users.
Areas of Use (Use Cases)
Potential uses of the Sui network include:
Decentralized finance (DeFi) applications
Non-fungible tokens (NFTs)
Game and metaverse platforms
Social media applications