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Everything you need to know about Sui
Sui is a public, decentralized layer-1 blockchain designed to offer high scalability, low latency, and low fees, with a particular focus on improving the user and developer experience. Its native cryptocurrency, SUI, is used to pay network fees, participate in governance, and secure the ecosystem's operation.
The project was developed by Mysten Labs, a company founded by former Meta (Facebook) engineers, and was officially launched in 2023. Sui is based on an innovative data model and the Move programming language, initially created for secure financial applications, which enable greater control over digital assets and reduce common risks in smart contracts.
One of Sui's primary differentiators is its object-oriented architecture, which allows many transactions to be processed in parallel. Thanks to this, the network can achieve high performance without sacrificing decentralization or security. In addition, Sui uses an advanced consensus mechanism that optimizes the validation of simple transactions, achieving almost instantaneous confirmations.
Sui is particularly geared toward use cases such as decentralized applications (dApps), gaming, NFTs, digital payments, and high-frequency Web3 experiences, where speed and scalability are key. Its design seeks to eliminate the friction typically associated with blockchain use, facilitating mass adoption for both users and developers.
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