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Sui Network aims to make web3 access simpler by allowing user registrations on its apps without the need for managing an external crypto wallet or seed phrase.
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In a press release dated September 13, the Sui Foundation announced a new feature called zkLogin (Zero Knowledge login), allowing users to access decentralized applications (dapps) using their Google, Facebook, and Twitch login credentials.
This move is aimed at simplifying web3 access and making it more user-friendly, eliminating the need to manage external crypto wallets or seed phrases.
The blockchain industry has often struggled with user onboarding due to the complexity involved in setting up web3 wallets and handling seed phrases. The zkLogin feature, however, maintains security and privacy features inherent to blockchain applications while enhancing user-friendliness.
The technology behind zkLogin, known as zero-knowledge proof, allows the verification of a statement’s authenticity without revealing any additional information beyond confirming the statement’s truth.
The Sui token (SUI) is also gearing up for a significant token unlock event scheduled for October. This event could potentially impact the token’s market behavior, with over 1.9 million tokens valued at over $800,000 set to be released.
SUI/USD 24 hr price chart | Source: CoinMarketCap
Recent data shows increased trading activity within the Sui network, with the trading volume nearly doubling from $1.57 million on September 8 to approximately $3.03 million. As of the latest data, the SUI token is trading at around $0.438, reflecting a 0.46% increase in the last 24 hours, according to CoinMarketCap.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
