Developed by the team behind Facebook’s Libra project, the Sui blockchain is gaining attention for its speed and ability to coordinate user actions efficiently. The blockchain now wants to tackle a key challenge in the Web3 space: coordinating user intent at scale.
Experts like Grayscale’s Head of Research, Rayhaneh Sharif-Askary, and Sui Network’s Adeniyi Abiodun, have highlighted Sui’s potential to revolutionize industries like gaming and DeFi. With its innovative programming model and fast transaction speeds, Sui aims to drive Web3 adoption to new heights.
ICYMI: Last week our Head of Research & Product, @Ray_scale, sat down with , @EmanAbio from the @SuiNetwork to discuss $SUI.
Watch the full $SUI Deeper Dive replay 👇 pic.twitter.com/Hw7cW716o3
— Grayscale (@Grayscale) September 30, 2024
A Global Coordination Layer for User Intent
Sui functions as a global coordination layer that allows developers to coordinate user actions atomically, solving challenges unaddressed by traditional blockchains. Unlike the internet, which effectively sends data, Sui sends both data and value simultaneously in a programmatic manner. This helps developers facilitate user transactions efficiently without congestion.
Read also: SUI Token’s Massive $106M Unlock: A Catalyst for Growth or a Price Dump?
One of Sui’s key advantages is its programming language, Move, which is object-oriented and designed for security. Representing everything as an object allows for faster, safer execution of user intents, enabling Sui to coordinate millions of user actions at once.
Unparalleled Speed and Throughput
Sui boasts lightning-fast transaction speeds. A single transaction takes less than 700 milliseconds to complete, significantly faster than competitors like Solana. This speed allows Sui to reduce friction in various use cases, particularly in gaming.
With major gaming companies like NHN, Netmarble, and NCSoft already using Sui, its impact on gaming is clear. Despite being only 14 to 15 months old, Sui ranks among the top 10 cryptocurrencies by total value locked (TVL), demonstrating rapid adoption in DeFi.
User Experience and Mass Adoption Potential
Sui also focuses on enhancing user experience through features like simpler transactions and domain-based addressing. By eliminating the need for complex wallet addresses, Sui’s domain system lets users send money using easy-to-remember names, such as “username@appname.”
Additionally, the platform’s ZK login feature enables users to log in with Google, Facebook, or Twitch accounts, bypassing the need for seed phrases. This streamlined onboarding process makes Sui more user-friendly, paving the way for mass adoption.
Applications built on Sui can cover gas fees on behalf of users, removing a key barrier for newcomers. Sui is currently trading at $1.88, with a 7.3% increase in the last 24 hours. This strong performance reflects growing investor confidence.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
