Sui (SUI)
Sui is a decentralized Layer 1 delegated Proof-of-Stake (dPoS) blockchain designed to redefine asset ownership and provide equal access to its programs. Developed by Mysten Labs, Sui was launched on May 3, 2023, by founders Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias. The name "Sui" is inspired by the water element in Japanese philosophy, symbolizing adaptability and transformation. The platform aims to offer a flexible network for reshaping the web3 landscape, built on Sui Move, a language derived from the core Move programming language. Sui operates on several networks, including Sui Mainnet, Sui Testnet, and Sui Devnet, and is maintained by a permissionless set of validators.
Features
| Ticker | SUI |
| Category | Smart Contract Platform |
| Website | https://sui.io/ |
| @SuiNetwork | |
| Contract Addresses | |
|---|---|
| sui | 0x2::sui::SUI |
Parallel execution
Sui Blockchain introduces a parallel execution system, allowing multiple transactions to be processed simultaneously rather than sequentially. This system enhances efficiency, enabling the platform to handle up to 120,000 transactions per second.
Gas fee
Sui operates in 24-hour cycles called 'epochs,' with a validators' committee managing each epoch. Unlike traditional blockchain networks where gas fees fluctuate based on demand, Sui maintains stable gas fees throughout each epoch.
Features for web3
Sui offers several features supporting web3, including:
- On-chain decentralized finance (DeFi) and traditional finance (TradFi)
- Reward and loyalty programs
- Complex game and business logic
- Asset tokenization services
- Decentralized social media networks
- Upgradable NFTs
Components of Sui Blockchain
- Objects: Sui uses programmable objects managed by Move-powered smart contracts.
- Transactions: Transactions update the Sui ledger, employing the Bullshark consensus protocol for ordering.
- Validators: Independent validators manage the network, each running a unique version of the Sui software.
Sui Move
Move is a programming language initially designed for the Libra blockchain, now known as Diem. Sui Move, an open-source language, is used for writing safe smart contracts, defining, creating, and managing programmable Sui objects representing user-level assets.
Features
Object-centric global storage
Unlike other blockchains, Sui Move does not allow operations related to global storage. Modules are stored in Sui storage rather than Move storage.
Object IDs
In Sui, object IDs are represented using a special address type, distinct from the approach in core Move.
Key ability
Sui requires structures with key ability to start with an ID field, containing both the Object ID and the sequence number.
Module initializers and entry points
Sui Move modules are published into Sui storage and include entry functions that can be directly called, differing from core Move's approach.