**What is Sui Network (SUI): The Complete Guide to Blockchain in 2024**
is a layer 1 blockchain designed to provide high speed and low latency in transaction processing, making it a great solution for real-time applications. Such applications include online gaming, decentralized finance (DeFi), and other innovative services that require instant response. This network was launched in May 2023 and is designed to efficiently process many transactions at once, which significantly reduces the load and increases throughput. Sui's throughput reaches almost 300,000 transactions per second.
One of the key features of Sui is the use of the language .
The system uses the native SUI token for transaction fees and network governance. The total token supply is fixed at 10 billion units. Since its launch, Sui has attracted the attention of developers and users, and its ecosystem continues to develop, which contributes to the growing popularity of the protocol in the crypto community.