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Information about Sui (SUI)
Sui is a high-performance smart contract platform under a Monolithic structure. In particular, a Monolithic blockchain is a blockchain that handles all tasks and jobs on a single network. Sui is scalable up to several hundred thousand TPS (number of transactions processed per second) and block times range from 2 – 3s.
Sui's goal is to expand Web3's ecosystem, providing an infrastructure with the right incentives for developers to quickly build and launch applications.
Sui uses the MOVE programming language and Narhal-Tusk, a consensus algorithm that solves the Mempool problem - consensus in traditional blockchain designs like Ethereum & Bitcoin. Based on this specification, the Sui blockchain allows the network to scale horizontally, able to support millions of transactions per second without requiring dedicated nodes in the network.
SUI is a native coin of the Sui ecosystem and can be used to:
- Network Fees: Pay for transaction fees on the network.
- Validator Staking: SUI holders have the option to delegate their holdings to validators that manage transaction processing and execution on the Sui platform.
- Native Liquidity: SUI provides native asset liquidity to on-chain applications deployed on the Sui blockchain.
- Governance: SUI is a claim on future governance.
Specifications
- Name: Sui
- Symbol: SUI
- Type: Utility, Governance
- Total Supply: 10,000,000,000 SUI
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