Sui (SUI)

Among the rising stars, one cryptocurrency is attracting particular interest: SUI.
It is based on a blockchain of the same name.
Designed to overcome the limitations of previous generations of blockchains, SUI is positioned as an innovative platform.

With less than a year of existence, the project has climbed to 60th place in terms of market capitalization.
Let’s take a closer look at the technology and crypto behind this fine performance.

Launched in May 2023, the SUI crypto project is Layer 1 blockchain (like Bitcoin or Ethereum) with an innovative concept.

Project presentation

SUI aims to offer high-speed transactions, instant processing and scalability thanks to its use of the Move programming language, based on Rust.SUI’s key feature is its ability to process transactions in parallel, keeping transaction costs low. Coming from the same base, it is often compared to Aptos with which it shares some of its technology.
The project managers mainly promote projects related to gaming and commerce.

Buy SUI tokens securely.

Let’s take a closer look at the project.

Language and development kit

The Move programming language is specifically designed for the development and execution of smart contracts.
Move aims to facilitate the creation of a new generation of blockchains and decentralized applications (dApps).

It introduces programming concepts designed to guarantee the security of digital assets.
Il permet ainsi aux développeurs de définir des collections de ressources, de procédures, et de structures qui peuvent être utilisées dans différents projets.
Nous pourrions comparer ça à Windows, c’est-à-dire un environnement logiciel dont un développeur peut se servir pour créer des applications.

SUI also promises to enhance the user experience and provide Web3 solutions development kit (SDK), enabling development in areas such as DeFi, GameFi, asset tokenization, social and NFTs.

The blockchain storage model

SUI’s developers claim that they can process nearly 300,000 transactions per secondwhich is far more than the Bitcoin or Ethereum (for example, Bitcoin processes 7 transactions per second, while Ethereum processes an average of 40 transactions per second).

In fact, in most traditional blockchains, transactions are processed sequentially, meaning that one transaction must be completed before another can begin.
This sequential model creates a bottleneck that can limit overall throughput and increase latency, especially during periods of high demand.

SUI, on the other hand, adopts parallel processing approach.
En identifiant les transactions qui n’ont pas de dépendances directes entre elles, Il est donc capable d’exécuter plusieurs transactions simultanément.
Cette capacité à traiter des transactions en parallèle permet à Sui d’atteindre un débit nettement supérieur et de réduire la latence à un minimum.

SUI then validates each transaction individually.
After a transaction has been successfully executed, it generates a certificate of authenticity certificate.
This certificate serves as irrefutable proof that the transaction has been validated and executed successfully, ensuring that it cannot be revoked or altered.

This individual validation method and the issuing of certificates of authenticity contribute to security and reliability of the Sui blockchain..A particularly interesting point is that SUI can have transactions paid for by a third party (e.g. the application manager), so the application user does not have to bear these costs.

SUI tokens, native to the SUI blockchain, are designed to facilitate a multitude of essential functions within this decentralized ecosystem. Primarily, they serve as fuel for transactions, enabling users to pay the gas fees required to validate and execute transactions on the blockchain. Gas fees are payments made by users to compensate for the calculations the calculations required to validate transactions on a blockchain.
The term “gas” refers to a unit of measurement for quantifying the amount of work required to execute a transaction or smart contract – in concrete terms, the computing resources required.
Gas charges encourage validators to process and secure transactions, thus guaranteeing the smooth running of the network.

In addition, SUI tokens are used for staking where holders can lock their tokens in support of validators, helping to secure the network and earning rewards in return. Finally, they play a crucial role in governancegiving holders the power to vote on proposals and decisions that shape the future of the SUI protocol.

The “tokenomics” refer to the set of rules and economic principles that govern a cryptocurrency token.
The tokenomics of the SUI token define the economic structure and use of this token within the Sui blockchain.
Here are the main aspects:

• Issue and total supply The total number of SUI tokens to be issued is set at 10 million.
  At the time of writing, there are approximately 2.5 million tokens in circulation.
• Distribution SUI tokens are distributed to various stakeholders, including developers, investors, ecosystem contributors and users via public sales or reward programs.
• Usage SUI tokens are used to pay gas fees, staking and governance.
• Incentives and rewards Validators and network participants can earn tokens by contributing to network safety and efficiency, creating a reward system that encourages active participation.

• Create an account: Register with Coinhouse by providing your personal details.
• Verify your identity: Complete the identity verification process in accordance with regulations.
• How to buy SUI: Go to the page dedicated to buying SUI on Coinhouse.
• Choose amount: Select the amount of SUI you wish to purchase.
• Make your payment: Pay securely by bank transfer or credit card.
• Finalize purchase: Confirm the transaction to receive your SUI tokens in your Coinhouse wallet.
  You can buy SUI with USDC.

• Expanding the dApps ecosystem: SUI plans to encourage the development of decentralized applications (dApps) by offering incentives to developers and improving its support for innovative solutions, particularly in the fields of decentralized finance (DeFi), NFTs and blockchain gaming.
• Scalability improvements: The SUI team is working on updates to further improve network performance and scalability, enabling even faster transactions and better resource management, notably by optimizing its parallel transaction model.
• Strategic partnerships: SUI aims to establish strategic partnerships with other blockchains, technology companies and financial institutions to drive adoption and interoperability, expanding the use of its technology across various sectors.
• Enhanced security: In 2024, SUI will focus on improving security protocols to ensure the protection of users and their assets, incorporating regular audits and proactive security updates.
• Education and adoption: SUI plans to launch educational initiatives to increase understanding and adoption of its technology, including training programs for developers and awareness campaigns for potential users.

SUI is positioned as an innovative and promising cryptocurrency, thanks to its advanced technology and experienced founding team.
With high-speed transactions, parallel processing capability and a secure programming language, the project offers solutions tailored to the growing needs of users and developers in the blockchain world.

Its rapid rise in the capitalization rankings and impressive TVL testify to the confidence and interest it generates in the crypto community.
It could well become an essential reference in the DeFi sector and beyond.

SUI embodies a new era of blockchain, where speed, scalability and security are the watchwords.
Its ongoing development and growing adoption promise to revolutionize decentralized applications, paving the way for a robust and diverse ecosystem.
SUI is undoubtedly a rising star to watch closely.