What is Sui?
Sui is a Layer-1 blockchain and smart contract platform designed to make digital assets fast, private, secure, and accessible. The platform was developed by Mysten Labs, a company founded by former developers from Meta’s Novi Research. Sui uses the Move programming language and focuses on supporting a wide range of decentralized applications (dApps), with an emphasis on scalability and ease of use.
Whitepaper: https://www.lcx.com/sui-mica-white-paper/
How does Sui work?
Sui introduces an object-oriented data model powered by the Move programming language. Unlike traditional blockchains that process transactions sequentially, Sui enables parallel transaction execution, resulting in high scalability and low transaction costs. The network uses a consensus mechanism optimized for low latency and high throughput, making it suitable for a wide variety of applications, from DeFi to gaming.
The token
Ticker: SUI
Category: Platform Token
Blockchain: Sui
Protocol: Proof-of-Stake (PoS)
Year of launch: 2023
The technology behind Sui
Sui’s technology is based on an object-centric model supported by the Move programming language. This approach avoids issues like re-entrancy vulnerabilities and spoofed token approvals, which have led to multimillion-dollar losses on other platforms. Additionally, Sui allows developers to create dynamic NFTs that can be upgraded, bundled, and grouped in an application-specific way—supporting richer in-game economies and more immersive user experiences.
The Sui ecosystem
The Sui ecosystem is growing rapidly and includes a variety of dApps and products, ranging from DeFi protocols to NFT marketplaces and games. Users can create a Sui wallet, acquire SUI tokens, stake them to earn rewards, and explore the various dApps and services within the Sui ecosystem.
Who founded Sui?
Sui was developed by Mysten Labs, a company founded by former developers from Meta’s Novi Research. The team consists of experts in blockchain technology and cryptography, many of whom contributed to the development of the Diem blockchain (formerly Libra) and the Move programming language.
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Cryptocurrencies, including Sui (SUI), are volatile and carry risks. The value of SUI can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.
For more information, consult the crypto asset whitepaper which includes information about the provider, information about the crypto asset, information about the risks and information about the impact of the asset on the climate; https://www.lcx.com/sui-mica-white-paper/
The BTC Direct disclaimer van be found here: https://btcdirect.eu/de-at/disclaimer