Sui is a Layer 1 blockchain that was created in May 2023 by Mysten Labs, a research and development company founded by former Google engineers. Sui is designed to be fast, secure, and scalable, with a focus on enabling the dApp development.
One of the key features of Sui is its use of Move, a new programming language that is specifically designed for blockchain development. Move is designed to be safe, expressive, and efficient, and it makes it easier to develop complex dapps that are secure and reliable. Another key feature of Sui is its use of causal ordering for transactions. Causal ordering allows Sui to process transactions in parallel, significantly reducing latency and improving throughput. This makes Sui ideal for dapps that require high-speed transactions, such as games and decentralized financial applications.
The Sui token (SUI) is the native currency of the Sui blockchain. SUI can be used to pay for transaction fees, staked to participate in the network's consensus mechanism, and used to purchase assets and services on the Sui network. Sui is still under development, but it has already attracted a number of major projects, including the game Legend of Arcadia and the decentralized finance DeFi platform DeSui. Sui is well-positioned to become a leading blockchain platform for dapps that require high performance, security, and scalability.
Moreover, Sui is a promising blockchain platform that has the potential to revolutionize the way decentralized applications are built and deployed. By providing developers with comprehensive tools and resources, Sui makes it easier than ever to build dapps. Along with providing a bunch of resources to developers, Sui also offers a number of incentives for developers to build on its platform, which include a generous bounty program for finding and fixing bugs, a grant program for supporting the development of promising dapps and a staking program that rewards validators for securing the network.
Founder: Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis and Kostas Chalkias
Launched On: 2023-04-29
Delegated Proof-of-Stake (PoS)
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