Sui Network: An Emerging Public Chain with Innovative Technology and a Rich Ecosystem

Sui Network is an efficient layer 1 blockchain based on the Move programming language, known for its fast transaction processing and parallel transaction capabilities. As an emerging public chain project, Sui was officially launched in May 2023 and quickly attracted widespread attention from the market.

Technical Advantages of Sui

The core advantage of Sui lies in its infrastructure based on the Move language, making it particularly suitable for building complex blockchain games and DeFi applications. The network can complete transactions in one second and supports parallel processing, greatly enhancing efficiency and user experience.

It is worth noting that Sui has introduced an innovative wallet technology called zkLogin, which allows users to log into decentralized applications on Sui using common web credentials (such as Google or Facebook accounts). This feature significantly lowers the entry barrier for new users, making the user experience of blockchain applications closer to that of traditional web services.

In addition, Sui has implemented native account abstraction, which provides developers with greater flexibility to design more complex and user-friendly protocols.

Market Performance of Sui

Since its launch, Sui has accumulated a market value of over $1 billion, ranking among the top 50 cryptocurrencies. Its total value locked (TVL) in the ecosystem has reached $464 million, mainly distributed across lending protocols and decentralized exchanges.

For users, the transaction fees on the Sui network are extremely low, averaging less than one cent per transaction, which stands in stark contrast to established public chains like Ethereum. The low fees combined with high throughput make Sui an ideal platform for developing complex game contracts, innovative DeFi protocols, and high-frequency trading.

Sui Ecosystem

gaming field

One of the most popular games on Sui is "Panzerdogs," a 2D tank battle game where players can own in-game assets. In addition, there are several other games running on the Sui platform, including the action game "Samurai Shodown," the open-world game "The Walking Dead Lands," and the strategy game "Legend of Arcadia."

DeFi field

In terms of DeFi, the lending protocol Scallop Lend ranks first in the Sui ecosystem with a TVL of $72 million. Scallop aims to provide institutional-grade quality, enhanced composability, and strong security for Sui's DApp ecosystem.

Cetus, the leading decentralized exchange on Sui, adopts a concentrated liquidity model similar to UniSwap v3, but is specifically built to leverage the Move programming language of Sui and Aptos. Cetus is gradually establishing an important position in the Move ecosystem.

Future Outlook

Sui, with its innovative technology, blockchain game-friendly infrastructure, and convenient user registration experience, is gradually becoming one of the most anticipated public chains in the market. As the cryptocurrency market gradually warms up, Sui is expected to gain more attention and support in its future development.

Whether participating in liquidity mining or experiencing blockchain games, Sui offers users a wealth of choices. Its unique wallet technology has greatly improved the onboarding experience for new users, which may become an important factor in promoting the widespread adoption of blockchain technology.