What is Sui?
Sui is a Layer 1 blockchain launched in 2023 by a team of veterans from a major technology project. The native SUI coin is used for transaction fees, staking, and network governance participation.
How it works
The network is built on an object model: data is stored as objects with owners, and simple transfers that don't affect shared resources are processed in parallel without full consensus. This enables very high throughput and near-instant finality. Smart contracts are written in Move, a language originally designed for secure digital asset management.
Advantages and disadvantages
- Advantages: high speed and low transaction costs, convenient for games and consumer applications, modern security architecture.
- Disadvantages: young ecosystem, large token unlocks for early investors pressure the price, competition among high-speed blockchains.