2023-04-18
Sui is a new layer-1 blockchain
that promises to deliver fast, secure and scalable transactions for web3
applications. It wants to reduce latency to enable faster smart contract
executions.
Sui is based on the Move
programming language, which was originally developed by Facebook for its Diem
project. Sui developed its own version of Move called Sui Move. Developers can
build smart contracts, fungible tokens, non-fungible tokens and decentralized
exchanges on Sui. Sui dApps support Web3 games, DeFi, and other blockchain
applications.
Sui is backed by a team of ex-Meta engineers
and several prominent investors in the crypto space. Mysten Labs, the company that
developed Sui blockchain raised $300 million at $2 billion valuation in the
series B round fund raising. Series B investors included FTX ventures, Coinbase Ventures, Jump Crypto,
Andreessen Horowitz’s a16z, Circle Ventures, Binance Labs and O’Leary Ventures.
Sui uses proof-of-stake mechanism. It is
different from other blockchains because it uses a novel consensus mechanism
called transaction parallelization, which allows nodes to validate only the
transactions that are relevant to them. This reduces the overhead and latency
of processing transactions, and enables Sui crypto to achieve instant finality
and high throughput.
Sui crypto aims to be the best platform
for building on-chain assets and experiences for the next billion users in
web3. Sui claims to process 120,000 TPS in 1 second. Sui time to finality is
less than 1 second.
Sui supports interoperability with
other chains. The Axelar Network and Wormhole bridges announced that they are
partner with Sui.
Sui has its own native token, SUI,
which has a fixed supply of 10 billion SUI.
20% for early contributors
14% for investors
10% for treasury
6% for Community Access Program and App
Testers
50% for Community Reserve
Sui Price Forcast
SUI price during initial sales are
$0.03 per token and $0.1 per token. Therefore, Sui market cap during initial
sales is $300 million and $1 billion.
The forecast market cap of Sui is between
$1.5 billion to $2 billion.
If investors buy SUI at the price of
$0.1. Investors will get 50% profit for $1 billion market cap and 100% profit
for $2 billion market cap.
Market cap of other smart contract
blockchains
Aptos ranks 30th world’s
largest crypto, values $2.30 billion.
Near Protocol ranks 35th
world’s largest crypto, values $2.04 billion.
Fantom ranks 42th world’s
largest crypto, values $1.46 billion.
Flow ranks 52th world’s
largest crypto, values $1.06 billion.
(As of April 18, 2023)
Sui claims to have several advantages
over other blockchains, such as low latency, high throughput, transaction
parallelization, object-centric data model and green proof-of-stake consensus.
Sui also supports smart contracts, decentralized applications (Dapps) and
interoperability with other chains.
