Sui is a cutting-edge, layer 1 blockchain, powered by Proof-of-Stake, that provides high-speed transaction settlement and accommodates a broad spectrum of future-oriented decentralized applications. Its design is geared towards handling high latency and offers the flexibility for developers to construct Web3 projects in anticipation of an upsurge in Web3 users.
Behind Sui's development is Mysten Labs, a pioneering Web3 infrastructure entity, established by ex-high ranking officials from Meta's Novi Research. The team is composed of professionals specializing in cryptography, programming languages, and distributed systems.
Evan Cheng, Mysten's Co-Founder and CEO, likens the current state of Web3 to the initial, sluggish dial-up phase of the internet, characterized by slow and costly processes, security issues, and a challenging construction environment. Thus, Sui was created with the objective of removing intermediaries and enabling users to smoothly engage and blend their favorite products across various apps.
Key features of Sui stem from two primary innovations:
- The MOVE programming language.
- The Narwhal-Tusk consensus algorithm.
MOVE, a programming language native to the Sui blockchain, is based on RUST and was developed by Facebook's Libra project, with a focus on parallel execution.
On the other hand, the Narwhal-Tusk consensus algorithm employed in the Sui blockchain distinguishes data transmission from the transaction consensus process, tackling the Mempool-consensus issue found in traditional blockchain designs, such as Ethereum and Bitcoin.
Leveraging these two innovations, the Sui blockchain enables the network to scale horizontally, potentially supporting millions of transactions per second without necessitating specific nodes in the network. Consequently, users won't need to invest heavily in high-end hardware to process faster and more transactions since even normal computers will suffice.
How To Buy Sui or Add it to your Strategy
The fastest, most convenient way to purchase Sui is to purchase it on ICONOMI. We check Sui live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Sui by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Sui is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Sui, we recommend you read the next section, as copying might be a better approach.
Add Sui to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Sui in their structure.
Spot on analysis! Fully agreed