Introducing Sui Network

Sui is a smart contract platform that has a group of validators who are permissionless and perform a similar function to validators or miners in other blockchain systems. Sui offers scalability and unprecedented low-latency for simple use cases.

Transactions on Sui can be processed in parallel, which allows for better use of processing resources and an option to increase throughput by adding more resources. Sui does not use consensus for simple use cases such as payment transactions and asset transfers, but instead uses simpler and lower-latency primitives. This is unique in the blockchain world and allows for the creation of new latency-sensitive distributed applications, including gaming and retail payment at physical points of sale. Sui is written in Rust and supports smart contracts written in Sui Move, which is an adaptation of Move for the Sui blockchain that is asset-centric and defines assets that can have an owner. Sui Move programs define operations on these assets, including custom rules for their creation, transfer to new owners, and operations that modify assets.

About SUI tokens

Sui's native token, called SUI, has a fixed supply and is used to pay for gas on the platform. Users can stake their SUI tokens with validators in a Delegated Proof-of-Stake model within an epoch. The amount of SUI in a validator's staking pool, including both validator and user SUI tokens, determines their voting power within that epoch. The set of validators in any given epoch is Byzantine fault tolerant. At the end of each epoch, fees collected from transactions processed are distributed to validators based on their contribution to the network's operation. Validators may also choose to share some of their fees with users who stake their SUI with them.

Sui has been developed over the years through open-source development and is supported by various state-of-the-art peer-reviewed works.

Looking to purchase SUI tokens, click this link you’ll find several exchanges SUI is listed on;

https://coinmarketcap.com/currencies/sui/.

The Scalability solution from Sui Design System

Sui can scale horizontally to meet application demands without any upper limit while maintaining very low operating costs per transaction. The system design of Sui eliminates a crucial bottleneck in existing blockchains, which is the need to reach global consensus on a total-ordered list of transactions. This is a wasteful computation because many transactions are not competing for the same resources against other transactions.

Sui achieves significant scalability by allowing parallel agreement on causally independent transactions. Sui validators commit these transactions using Byzantine Consistent Broadcast, which eliminates the overhead of global consensus without compromising safety and liveness guarantees.

This breakthrough in scalability is only possible because of Sui’s innovative data model. Thanks to its object-centric view and Move’s strong ownership types, dependencies are explicitly encoded. As a result, Sui can agree on and execute transactions on many objects in parallel. Transactions that affect shared state are ordered via Byzantine Fault Tolerant consensus and executed in parallel.

Sui and Other Blockchain Comparison

Sui is revolutionizing the blockchain industry by achieving unparalleled speed and scalability through its innovative approach. Sui takes advantage of the fact that many blockchain transactions involve non-overlapping states, allowing for parallel processing. Furthermore, Sui optimizes for single-writer objects, eliminating the need for consensus in simple transactions.

Unlike traditional blockchains that rely on fire-and-forget broadcasts, Sui's design allows requestors or proxies to proactively communicate with validators to finalize transactions, resulting in almost immediate finality. This low latency makes Sui an essential tool for integrating transactions into games and other applications that require real-time completion.

Sui also supports smart contracts written in Sui Move, an asset-centric adaptation of Move for the Sui blockchain. This provides inherent security and a more straightforward programming model.

As bandwidth costs continue to decrease, Sui is building a services ecosystem that will make it easy, fun, and possibly profitable for users to ensure transaction voting on their behalf.

Summary

Sui is a smart contract platform that offers unprecedented scalability and low latency for simple use cases, such as payment transactions and assets transfer.

Sui achieves this through its innovative approach that enables parallel agreement on causally independent transactions and optimizes for single-writer objects, eliminating the need for consensus in simple transactions. Sui also supports smart contracts written in Sui Move, an asset-centric adaptation of Move for the Sui blockchain, which provides inherent security and a more straightforward programming model. Overall, Sui is known for its speed, scalability, and ability to handle large volumes of transactions while keeping operating costs per transaction low.

To learn more about Sui Blockchain visit;

www.sui.io