Sui Network is a Layer 1 Blockchain network that has been surprising Crypto users and investors in this bull run, with the Sui token rising more than 400%. Come and find out a little more about the Sui token and the Sui Network's Differentiators.
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Sui Token 400%
We can see that the Sui Network Token on the 1-year chart went from its lows of less than $1 to now hit $4, a little over 4x for those who invested in this cryptocurrency. It is good to remember to be careful because in times of highs everyone is euphoric to buy at the top.
Some interesting data that can be found on Coinmarketcap is that 52% of the Sui Token allocation is in locked contracts and that only 30% of the tokens are released.
Sui Wallet
Source: Sui Wallet - DappRadar
One of sui's digital wallets is the Sui Wallet, which allows you to store and transact Sui Network tokens within the Sui blockchain, in dapps and games on the web3 network. It is worth remembering that yes, Sui has some mobile wallets for phone users and of course be careful with the seed phrase, keep it carefully.
Sui Network's Differentiators
Sui Network's great differential is the parallel processing of transactions on the network, making the amount of information processed, known as throughput, greater since more than one transaction is processed at the same time. In addition, Sui also has horizontal scaling that allows the network to increase in size as demand increases, keeping transaction costs low since there will be no competition for transactions to be executed as occurs in other non-scalable networks.
In traditional blockchains, the transaction process is known as vertical scaling, since transactions are executed linearly one after the other. SUI's unique feature allows it to execute more than 100,000 transactions per second, since instead of having each transaction go through all validators, it only shares relevant information that needs to be verified by the blockchain network, which greatly increases transaction speed.
Sui Network x Games
Source: Stella Fantasy - DappRadar
Now you can see what this blockchain network can provide with these features, which others may not be able to. This ability to process a greater number of transactions at the same time due to parallelism is welcome in web3 games since multiplayer games need this to work on the blockchain. Of course, it is possible for the game to be hybrid, run on private servers and some transactions to be saved on the blockchain as well, which is what normally happens. 100% blockchain games are still the minority in Web3.
In Sui, there is Cubic, which is an ecosystem for Web3 games, which allows the exchange of NFT game assets, as well as assisting studios in game development. Some web3 games that are on Sui are Stella Fantasy, a Fantasy RPG, Overworld, which is a Free to Play Sandbox RPG, and Bushi, which is an action game.
Sui Network x Dapps
In addition, the fast transaction processing speed due to not needing to propagate all data across the blockchain network, combined with horizontal scalability that prevents network fees from increasing, means that this network can be used for transactions and DeFi efficiently.
Some examples of Dapps on this blockchain network are HeroSwap, which is a cross-chain token exchange platform that integrates the Bitcoin, Ethereum, Solava, and Sui networks. There is also Cetus, which is a DEX for users to pool liquidity on the Sui network and exchange their tokens.
SUI Network Founders
A quick fun fact for those interested in SUI is that it was originally developed by Mysten Labs, which was founded by the team that was part of Meta's Blockchain research department.
