Sui: High-Performance Blockchain for Instant Transactions

Sui is a new blockchain platform from Mysten Labs, capable of processing up to 300,000 transactions per second. The project is aimed at applications in games, finance, and other areas requiring fast transactions.

Technological features of Sui:

• Narwhal and Bullshark mempool and consensus engines allow parallel transaction execution.
• The basic storage unit is objects managed by smart contracts.
• Use of the Move programming language to enhance security and reliability.
• Strict object ownership rules eliminate problems with duplication or accidental destruction.

Ecosystem and development

Launched in May 2022, Sui quickly gained popularity, reaching a million active addresses in two months. The ecosystem includes DeFi platforms, games, and NFT marketplaces. Key projects:

• Cetus — a protocol for decentralized exchange
• NAVI — a decentralized money market

Developers are implementing offline transaction mechanisms and collaborating with cybersecurity companies OtterSec and Zellic.

Despite volatility in 2024, Sui shows signs of stabilization. Current price range: resistance around $1.1, support at $0.743.

Sui offers high throughput, low latency, and scalability. The use of Move and innovative consensus mechanisms ensures network reliability and security. The growing ecosystem and active development increase Sui’s potential in the cryptocurrency market, especially in areas requiring fast transactions.