a future revolution in WEB 3.0

Updated on November 01, 2022 at 11:52.

Sui is designed by MystenLabs, composed among others by former Meta engineers. Together they worked on the LIBRA project which was eventually discontinued. Its objective is to promote the widespread adoption of Web 3.0 through him blockchain.

Introduction to Blockchain

Sui is one blockchain the first layer, aiming to achieve 130,000 transactions per second.

It consists of a unified network of users and authenticators, and its use is intended more for the world of WEB 3.0

The network is currently in the test network phase, with a main network announced before the end of the year.

of blockchain Sui does not manage all assets in the same way and categorizes them into sub-categories.

The first defines the group of exchangeable assets such as cryptocurrencieswith title common objects.

The other category called programmed objects includes non-tradable assets, ie NFT.

Indeed, the transactions of all blockchains are generally based on a consensus.

This mechanism avoids conflicts between several transactions in the same network and refers their position to a blockchain.

Their approach is unique at this point.

They don’t use consensus for non-tradable assets.

They invented programmable objects, so every digital object has a unique identity and address.

Each owner can decide on the purpose of his programmable object: exchange it, modify the data or even destroy it, for example.

To opt out of this mechanism i consensusGRANTS blockchain, simplify your network and through this achieve a number of transactions unlimited.

This is why Sui brings added value to the sectors that use it NFT as a business.

Sui specifications

Sui plans to develop a system of recovery of lost assets.

For example, this case may arise when a user sends these funds to the wrong address.

It also provides for a transfer system cryptocurrencies with means of communication such as e-mail or the Short Message System (SMS).

These transfers can be made even when the recipient does not have a Sui wallet.

Sui deepens on the side NFT with their tool SuiEcho allowing the doubling of the properties of a NFT from one channel to another blockchain.

summary of digital asset transfers in the Sui wallet

of blockchain Sui develops on “Move” an open source programming language.

This language facilitates the creation of smart contracts intended for Web 3.0

The latter also protects against common computer flaws encountered by Solidity.

This specialized version of Move is designed to work better with shared and scheduled objects.

Feedback from developers is positive about this theme, it seems to be simple to understand and easy to implement

Also, it is planned to be integrated development kits in order to promote application deployment Web 3.0 IN blockchain.

In fact, languages TypeScript, Rust and C# SDKs will be affected by these development kits.

In summary, Sui relies on the variety of programming languages ​​to attract a maximum of developers from different universes.

The utility of their Sui token

The total SUI supply is limited ten billion of arguments.

A portion of the total SUI supply will be liquid at the launch of the mainnet.

The rest of the tokens that are bought over the next few years or distributed in the form of the future grants to reward participation.

There is a sign four features on the Sui platform.

It can be accumulated in order to participate in the mechanism of proof of action :

The mechanism of standing up and the tokenomics of the Sui sign

The sign is the necessary asset to pay gas bills required to execute and save transactions or other operations on the platform.

It can also be used as a versatile and liquid active ingredient for different applications: for example a medium of exchange or a store of value

Furthermore, the SUI token plays an important role in gOVERNANCE acting as an on-chain voting right on issues such as protocol improvements.

Not all use cases have been discovered yet and they will evolve over time.

of blockchain Will she keep all these promises?

All the ingredients for great success are there: a competent and experienced team, innovation in a booming sector: Web 3.0.

Also, the collection of funds of 300 million ALL dollars will allow them to develop in the long term and ignore bear market

technologies blockchain offer a multitude of possibilities and, regardless of bear market, continue to evolve to build tomorrow’s economy. To be a part of it, don’t hesitate any longer and start training and strategizing now thanks to Crypto Rider.

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