Sui provides several benefits that are not present in other existing blockchains. Its innovative architecture, which is centered around objects, allows for concurrent transaction processing, rapid finality (with an average of only 480 milliseconds), and the inclusion of diverse on-chain assets. Sui’s horizontally scalable processing and storage capabilities allow for the creation of various applications with unparalleled speed and low expenses. Therefore, Sui represents a significant improvement in blockchain technology, offering creators and developers a platform to develop outstanding and easy-to-use experiences.
About Sui – A new crypto giant?
Sui is a developer and user-friendly layer 1 blockchain that operates on a permissionless network. It has the capacity to support various application developments at an unparalleled speed and low cost.
Sui – Technical Innovations
Instead of relying on accounts like most other blockchains, Sui utilizes objects as its fundamental unit of data storage. These programmable objects, which represent user-level assets, are designed, constructed, and managed by developers and possess distinct characteristics, such as ownership, that can be modified according to the governing logic of the smart contract that created them.
One of Sui’s most potent core developer primitives is Programmable Transaction Blocks. Unlike conventional blockchains, where transactions are typically basic and close to virtual machine execution, Sui elevates the fundamental unit of execution to a complicated and composable sequence of transactions.
The majority of blockchain transactions are uncomplicated, such as asset transfers, peer-to-peer payments, and NFT minting. As each transaction is self-contained, they do not require any specific order and can be processed concurrently.
Sui is optimized for these typical, straightforward transactions. In contrast, other blockchains require every transaction, irrespective of its nature, to be verified and processed through global consensus, which can cause a bottleneck in the network. This design often slows down the processing speed of individual transactions (latency) and reduces the total number of transactions that can be handled simultaneously (throughput).
Sui addresses the bottleneck issue and maintains low latency and high throughput by implementing the “Byzantine Consistent Broadcast” algorithm. This approach allows a requestor or proxy to communicate directly with validators, thus facilitating processing without the need for consensus. As a result, Sui achieves near-instant finality while maintaining high security. Additionally, this design allows for parallel transaction submission and execution at a large scale.
Sui has the capability to scale horizontally in response to increased network demand. Validators can increase their performance by adding more computing power as needed and reduce it when not required. Despite high network traffic, Sui’s tokenomics model is designed to maintain low and stable gas fees. Validators are motivated to increase capacity since they earn more gas fees rather than charging higher fees.
Sui’s scalability is not only limited to transaction processing. Storage is also horizontally scalable and cost-effective. As a result, developers can define intricate assets with rich attributes that are directly stored on-chain rather than using off-chain storage layers to save on gas fees.
Sui’s native programming language is called Sui Move. This language is specifically designed to provide everything a blockchain developer needs to create efficient, secure, and feature-rich applications.
Take a look at some projects building on Sui – click here.
What about security?
Sui Network and Sui Move are engineered to provide top-notch security for asset owners through various means:
- Assets can only be accessed by their owners, irrespective of the transaction type.
- Smart contracts define asset types and logic, including the relevant transaction types.
- Transactions can be completed even in adverse circumstances.
- Validators are held accountable to the Sui community through Delegated Proof-of-Stake, ensuring a secure network.
Is $SUI a good investment?
Sui is a rapidly growing project that has gained significant popularity. The SUI Token has shown impressive growth and is one of the fastest-growing blockchain projects with a strong community. According to numerous crypto specialists, Sui Token has the potential to increase in value over a long period of time due to the use cases of Layer 1 blockchains. Sui Token has a total supply of 10,000,000,000 tokens, which is a reasonable number. Based on the community’s response and holding pattern, SUI Token seems promising for the long term. Nevertheless, it’s important to keep in mind that all investments come with some risk.
SUI Token – Price Prediction for 2023
We believe $SUI will have a stable growth pattern throughout the year, with its value ranging from a maximum of $2.50 to a minimum of $1.10. This growth can be attributed to SUI’s increasing popularity as a layer 1 blockchain, which supports the Move coding language and offers fast, cost-effective transactions for various applications. SUI’s emphasis on asset ownership and the ease of creating and transferring assets make it an attractive platform for both developers and investors. Furthermore, SUI’s recent listing on Binance and its position in the top 100 market cap cryptocurrencies indicate that it has significant market potential for further growth. However, it’s important to remember that cryptocurrency investments carry risk, and price predictions like these are never guaranteed.
Where to buy $SUI?
Obtaining SUI Token is relatively easy as it has been listed on many cryptocurrency trading platforms. Some of the top exchanges that currently offer SUI trading include Binance, Kraken, KuCoin, Huobi, Bitfinex, OKX, Bybit, Crypto.com and Bitget. Additionally, there may be other exchanges that have listed SUI. By signing up on any of these platforms, you can easily add SUI Token to your cryptocurrency portfolio.
