Sui blockchain is starting to attract attention from all the crypto community and we are here to tell you more about the technologies it utilises, it’s tokenomics, the team and their plans on the project - basically everything you might want to know to decide whether the project is worth your attention.
Tech
Sui is incredibly efficient and fast in terms of transaction latency. All that is because of its ability to parallelise all the incoming requests and orders.
Problem
Most blockchains put all the transactions in one line and start to slowly execute them after they are inspected. All the transactions are marked as independent and require a separate block for execution. That makes the blockchain really slow.
Sui’s solution
Sui divides the transactions in groups and unites the ones that are dependent on each other. That way transactions share blocks, used for execution and the speed of transactions increases significantly. In case the transactions are marked as independent Sui will just increase the number of machines, working for one validator.
Low latency
Complicated transactions are said to only take 2-3 seconds, while easier ones are executed immediately. Sounds close to the truth because during a test on a Macbook Pro the blockchain showed a mind-blowing result of more than 120k successful token operations executed in just one second.
Tokenomics
There are 10B governance $SUI tokens available right and those will be divided between the team, investors, Sui fund and a public sale. We can’t tell the percentage of tokens given to the team by now, but we would suppose a minimal number of coins will land in founders’ hands because of the…
Team
Mysten_labs, who are building up Sui have already been engaged in multiple Meta projects. EvanWeb3 , EmanAbio , b1ackd0g, GDanezis, kostascrypto have all been building Novi and Diem in Meta before and are the scientists and engineers that have successfully launched such projects as the Move coding language, Narwhal/Tusk pool and the BFT consensus. Those guys for sure know what they are doing.
What’s next
Mysten_labs are targeting four app directions:
- Decentralised gaming
- DeFi
- Trading
- Decentralised social networking
All of the apps will utilise Sui’s low latency and high speed for overtaking the competitors on the market as well as gaming and social networking will also be using some unique Sui features, that are just to be announced.
Overall, a great project that is worth waiting for the launch and keeping an eye on the public token sale. We’ll see where that goes.
