Sui is a Layer-1 blockchain optimized for low-latency transactions, focusing on instant transaction finality and high throughput. These characteristics make Sui an ideal platform for real-time, on-chain use cases such as gaming, finance, and other applications that require fast transaction speeds. Sui's smart contracts are written in Move, a Rust-based programming language designed for fast and secure transaction execution. One of Sui’s key innovations is its horizontal scaling, achieved through transaction parallelization, allowing independent transactions to be processed in parallel. This is enabled by the Byzantine fault-tolerant proof-of-stake (PoS) consensus mechanism, which ensures secure validation of independent transactions.
Founded in 2021 by the Mysten Labs team, including Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias, Sui’s creators bring extensive experience from companies such as Apple, Oracle, and Facebook. The Sui Mainnet officially launched on May 3, 2023, with the native token SUI used for network security (staking), transaction fees, and governance. The maximum supply of SUI is capped at 10 billion, with approximately 5% of tokens in circulation at launch and the remainder set to be released on a vesting schedule.
By mid-2024, the Sui ecosystem had grown significantly, with Total Value Locked (TVL) reaching over $980 million, driven by the success of decentralized finance (DeFi) protocols like Navi Protocol and Bluefin, which collectively processed billions in trading volume. In September 2024, Sui saw a major token unlock event, releasing an additional 64.19 million SUI tokens into circulation, valued at approximately $54 million, which further boosted the network's liquidity and adoption.
Additionally, Sui formed a high-profile partnership in September 2024 with ONE Championship, the largest martial arts organization in the world, leveraging Sui’s blockchain to build fan engagement and develop new digital products. Sui also integrated cross-chain bridging services like Wormhole Connect to enhance interoperability across multiple blockchain ecosystems.
Above are only for introduction, not intended as investment advice.
