Hi all! Today we will get acquainted with the blockchain, which can compete with its brothers. Let's not guess, let's start studying.
What is Sui?
Sui - L1 blockchain with PoS from Mysten Labs! It's getting interesting, but it's getting better...
Sui is a blockchain designed from the ground up that will allow creators and developers to create experiences that serve a billion users on web3. Sui is developed by the Mysten Labs team. These guys worked on the creation of DIEM (blockchain for facebook)
Investors and partners:
In December 2021, in the Series A round, the Mysten Labs project raised $36M from funds such as: a16z, Coinbase Ventures, Electric Capital, Samsung NEXT, Redpoint, Hack, and others.
Why the founders of Mysten Labs left Meta to launch their own blockchain
https://www.theinformation.com/articles/why-mysten-labs-founders-left-meta-to-launch-their-own-blockchain
Team
Former Facebook developers. This already tells us that the guys are professionals and are ready to apply their skills.
Sui was created by Mysten_Labs, a company that builds the basic infrastructure for Web3. As we know Web3 will be one of the trends for the coming years.
In the team: EvanWeb3, EmanAbio, b1ackd0g , GDanezis , kostascrypto
- all of them previously built Novi or Diem in Meta.
These scientists and engineers are behind many of the Meta breakthroughs that underpin Sui, including the Move programming language, the Narwhal/Tusk mempool, and the BFT consensus, which are now being rolled out to other blockchains.
The basis will include 4 key Sui applications: Social networks, games, defi, nft
Using Sui's high bandwidth and low latency can provide the best user experience.
"Sui's development is progressing quickly and accurately," Lucky Kat Studios, creators of Panzerdogs, said in a statement. “It is not only its transaction speed that is impressive, but also its ability to mirror NFTs and the dynamic processing of network assets, which can bring new value to users and the assets they own.”
Link to source - https://smartliquidity.info/2022/03/22/mysten-labs-unveils-its-layer-1-blockchain-called-sui/
Why is it interesting?
This blockchain must be high performance.
Its first launch results were able to process over 120K tokens per second (Sui on MacBook Pro) Written in the MOVE programming language.
Sui's performance is the parallelization of transactions.
On many blockchains, transactions must be ordered and placed in a block for sequential execution.
Sequential execution unnecessarily limits the throughput of these blockchains - most transactions are independent.
Because Sui requires that transaction dependencies be explicitly specified, it can process them in parallel. In the minority of cases where transactions are intertwined, Sui still allows them to be ordered and executed sequentially.
Because independent transactions can be validated in parallel, Sui can increase throughput linearly by increasing the number of machines per validator.
Simple transfers are verified almost immediately, while complex transactions are completed within 2-3 seconds.
https://docs.sui.io/learn/tokenomics
Tokenomics
The total supply of the SUI token is 10 billion. It will be distributed among the founding team, investors, public sale, Sui fund
The exact initial distribution of tokens will be published in the coming weeks.
Social networks:
✅Website: https://sui.io/
✅Developer Documentation: https://docs.sui.io/
✅Github: https://github.com/MystenLabs/sui
✅Website: https://mystenlabs.com/
✅Discord: https://discord.gg/57qffCUDyd
~Mysten Labs~
✅Website: https://mystenlabs.com/
✅Twitter: https://twitter.com/Mysten_Labs
✅Medium: https://medium.com/mysten-labs
There are a lot of influencers, including: dejen ny (Animoca Brands), eden (Jump Crypto), Pontem, Jeff Amico (a16z), Bybit and many others.
What can be done now?
Run a node in the devnet, or help the team in the discord of the project. The moderators on Discord wrote that running a node in the devnet could be one of the advantages in selection.
Guide: https://nodes.guru/mysten-labs/setup-guide/en
Incentiveized testnet will be launched in August
(https://sui.io/resources-sui/announcing-sui-incentivized-testnet/) and will be divided into several stages:
▸ Network launch;
▸ Staking;
▸ Update.
⠀This will be a closed testnet with a limited number of participants, it is not known what criteria will be used for selection.
P.S.
Initially, the project looks strong and confident. I look forward to the implementation of the plan. There are all the opportunities to support funds and a strong team.
-Sui gives a lot of opportunities for people with different skills. Layer 1 blockchain, which plans to build a platform that will allow you to create a variety of projects from financial to gaming on its basis.
-The cheapest blockchain they want to make, secure smart contracts, horizontal scalability
-Uses the Move programming language to define assets as objects that an address can own. Programs define operations on these typed objects, including custom rules for creating them, transferring these assets to new owners, and operations that modify them.
The network is supported by nodes that anyone can run. The $SUI token will be used to pay fees and staking.
-Basic infrastructure for Web3
⠀#Mysten_Labs #crypto #nft #sui #Sui #Devnet
