What is SUI Coin? Sui reviews future and project

SUİ is a block chain project that aims to reduce the delay in the execution times of smart contracts and to provide high trading capacity and to work without any problems. Sue, the first layer of block chain, was designed based on the proof-of-stake (POS) mechanism underlying Ethereum. So what is water coin?

The SUİ team argues that limited trading capacities of existing block chains lead to blockages and cause high costs and high delay times. The team suggests that this situation gives users with bad web3 experiences. In this context, the project promises to provide a fast, reliable and user experience with a parallel executive system, processing fee mechanism and consensus system.

What is water coin?

SUI Coin is the Native Token of the Water block chain developed by Myten Labs. This token has a total fixed supply of 10 billion units. So what are the main functions of SUI Coin and what does Su Coin do?

1. Usage in POS Consensus mechanism:

SUI COIN is used for participation in the network of the network proof of stake (POS) consensus mechanism. This allows the token owners to contribute to the safety and verification processes of the water network.

2. Welcoming the transaction fees:

The transaction fees required for the transactions and other activities carried out in the water network are paid using the water coin.

3. Participation in Network Government:

SUI COIN allows token holders to participate in the governance processes of the water block chain and to be involved in the decision -making mechanisms.

As mentioned above, these functions indicate that SUI Coin plays a central role in the Ecosystem of the SUI block chain ecosystem and indicates that the token is an important tool in various interactions on the network.

Sui's founding names from Meta
Evan Cheng, who undertakes the CEO position of Mysten Labs, had the opportunity to work as Senior executives in Sam Blackshear (CTO) and Adeniyi Abiodun (CPO) Meta. Developed by Mysten Labs, Sui provided a total of 2 billion dollars of valuation and $ 300 million funds from the B Series Investment round. Investors include Binance Labs, A16Z, Coinbase Ventures, and FTX's investment company FTX Ventures.

What are the differences of Sui from other block chains?

Move language.

Sui uses Move, a Rust -based Bytecode language. This language is originally designed for “Diem, the stopped block chain program of the meta company. Sui's Move is the updated version of the Move language used by APTOS, a scalable, low -cost and updated block chain.

This language is designed to prevent dual expenditure and to make SUİ's most reliable networks and coded to eliminate the deficiencies of programming languages such as Solidity.

Parallel execution

One of the basic differences of Sui is that it enables the network to take place in parallel to the network and ensures that the resources of the network are better used. When we examine the other block chains, we see that the network processes the operations in one handle and then operate.

These singular operations increase the traffic in the network and cause the realization time of the operations to prolong. In SUİ, the transactions are processed in parallel, not singular, so that they can perform multiple operations at the same time.

While the Ethereum network was carried out 15 transactions per second, sui carried out 120 thousand transactions per second thanks to the “parallel execution”. In addition to exceeding the number of transactions of other block chains per second, Sui can be carried out 5 times more per second than Visa, which provides banking services.

Processing fee

When we look at other block chain networks, the transaction intensity in the network increases and increases in the transaction fee, slowdown in the network, while the water offers low and predictable transaction fees to its users with a gas pricing mechanism. In this system, the verifiers in the SUİ network grow proportional to the increase in the process capacity and thus form low trading fees even in the process in which the network is used intensively. With this feature, Sui claims that the wide band can achieve what the internet does for web2 for web3.

The increase in transaction fees, which are of great importance on behalf of block chains, can cause users in difficult situations. Ethereum founding partner Vitalik Botter said in a recent statement, “If we do not correct the scaling before the next bull run, people will have to pay $ 500 processing fee,” he said, with these words, he expressed his uneasiness a
bout scalability and high trading fees.