Mysten Labs, the original contributor to Sui, was established by former lead architects of Meta’s blockchain research team: Evan Cheng, CEO of Mysten Labs, possesses extensive experience in platform development, having spent over 24 years building developer-focused technology and leading engineering teams at prominent companies such as Apple and Facebook. Adeniyi Abiodun, Chief Product Officer of Mysten Labs, has led engineering and product teams within major tech companies, including Oracle, VMware, and Facebook. He has been at the helm of product teams in the blockchain sector for over a decade. Sam Blackshear, Chief Technology Officer of Mysten Labs, is a researcher and engineer with expertise in programming language design, program verification, and developer tools. He is the creator of the Move smart contract language. George Danezis, Chief Scientist at Mysten Labs, is a Professor of Security and Privacy Engineering at University College London, with more than 20 years of experience in peer-to-peer system security and privacy. Kostas Chalkias, Chief Cryptographer of Mysten Labs, brings over a decade of experience in lead cryptography roles at major tech companies, including Meta and R3. For detailed information about Sui, please refer to Eulerpool.

Sui's groundbreaking architecture facilitates low-latency transactions with consistent transaction fees, high throughput via horizontal scaling and parallelized execution, and provides developers with robust tools and capabilities to design the next generation of Web3 applications. Central to Sui's distinctiveness is its object-oriented design, which introduces a novel approach to blockchain development. This design ensures deep composability while incorporating critical safety measures for developers and users. As every element on Sui is treated as an object, defining object types allows developers to create bespoke objects with network-wide compatibility intrinsic to the system. This fundamentally alters how assets and protocols can interact, fostering the creation of superior products with extensive composability. The use of objects on Sui facilitates significant enhancements in essential network processes, such as transaction processing. By clearly defining transaction dependencies, transactions on Sui can be executed in parallel. Additionally, Sui's unique consensus requirements allow certain transactions to bypass consensus, leading to substantially faster completion times. Many transactions are finalized and settled in under half a second, all while maintaining high throughput and stable transaction fees. Application developers gain from Sui's commitment to addressing common obstacles in Web3 adoption. This is achieved through developer-friendly tools such as zkLogin and sponsored transactions, which address challenges like wallet onboarding and transaction fees, respectively. Moreover, Move on Sui has been adapted to Sui’s object-oriented data model, creating a development platform that combines an innovative yet user-friendly interface with a powerful and secure programming language. This alignment allows developers and users to have greater assurance, as the additional safety measures required by Move on Sui help mitigate, if not completely prevent, the most common vulnerabilities in other smart contract programming languages. With Sui Wallet and zkLogin, you can get onboard with Sui immediately. zkLogin enables the creation and management of Sui accounts using a simple web login, such as Google. Leveraging zero-knowledge cryptography, zkLogin combines the ease of using a familiar web account with the security and ownership benefits provided by blockchain technology. Download Sui Wallet and start your experience today.

The SUI token has a total supply capped at 10,000,000,000 (ten billion tokens) and is primarily used to secure the network and serve as a unit of account and payment within the network. The SUI token currently fulfills three primary purposes on Sui: * Proof-of-stake participation - Sui employs a delegated proof-of-stake mechanism to select, incentivize, and reward honest behavior by Sui validators and the SUI token owners who stake with them. * Gas fee payments - SUI tokens are used to cover gas fees required to execute transactions and store data onchain. * Utility across applications - SUI is a versatile and liquid asset, applicable in various areas within Sui's ecosystem, including decentralized exchanges, lending and borrowing platforms, games, and more. * Governance - The SUI token will play a pivotal role in the future governance of Sui by granting holders the right to participate in onchain voting on critical issues, such as protocol upgrades and platform modifications. Additionally, the Sui storage fund is designed to redistribute stake rewards over time and compensate future validators for storage costs of previously stored onchain data. This tokenomic structure creates a system whereby users can store data onchain indefinitely while ensuring fair compensation for current and future validators for storage, promoting long-term sustainability. For further information regarding the SUI token, please refer to Eulerpool.

Sui employs a delegated proof of stake (PoS) mechanism to safeguard the network against sybil attacks, with validators and delegators performing roles similar to those in other dPoS systems. A distinctive aspect of Sui’s network-level architecture is its consensus protocols. Sui utilizes the Narwhal protocol to create and efficiently manage a mempool for a directed acyclic graph (DAG). Subsequently, the Bullshark consensus protocol retrieves transactions from the Narwhal mempool to validate and finalize them. As previously mentioned, certain transactions can bypass the consensus mechanism and utilize the Byzantine Consistent Broadcast mechanism to achieve finality in under half a second, ensuring true settlement guarantees. This network design has demonstrated the capability to process transaction speeds of over 297,000 transactions per second in a testing environment.

SUI is available for purchase on a variety of centralized exchanges, such as Binance, Coinbase, KuCoin, Bybit, Kraken, Bitfinex, and others.

As a name service platform, SuiNS assigns identifiers on Sui, such as alice.sui. These identifiers, known as names, are linked to Sui accounts, streamlining transactions by directing them to the associated Sui account. This simplifies the process of specifying Sui accounts for users, enhancing their overall experience. SuiNS names are represented as NFTs and stored in the user's wallet, ensuring that ownership benefits, inherent to Sui objects, are extended to SuiNS names as well. Additionally, SuiNS provides further personalization options by allowing users to associate avatars with their names. These avatars, also NFTs, utilize Sui's capability for composable objects, offering users a multitude of possibilities for their graphical representations. Besides avatars, SuiNS supports IPFS websites, enabling users to create either straightforward informational pages or intricate, dynamic sites.