Technical Team of $SUI : Sui was developed by Mysten Labs, and the team members are mainly former members of the Meta (Facebook) Diem team. These members are experienced in blockchain technology, distributed systems, cryptographic algorithms, etc., and have led the development of the Diem blockchain and stablecoin payment system. Project Origin: The story of Sui can be traced back to the Diem project led by Meta. Diem aimed to promote the decentralization of the global payment network but was halted due to regulatory pressure. Core members of the Diem technical team founded Mysten Labs and developed the SUI public chain based on the technical accumulation of Diem, aiming to solve the pain points of traditional public chains in performance, development efficiency, and asset management. Financing Situation: In December 2021, Mysten Labs invested $36 million in the Sui project. In 2022, FTX led an investment of $300 million in Sui, bringing the valuation of the startup to $2 billion, with numerous well-known venture capital institutions such as Circle, Binance Labs, Lightspeed Venture Partners, A16Z, NCsoft, etc., also supporting it. Project Goals: Sui is committed to building a high-performance, scalable, secure, and user-friendly blockchain ecosystem. It adopts an innovative Byzantine Fault Tolerance (BFT) consensus algorithm to achieve high-speed, low-latency transaction confirmations, handling a large number of transactions to meet the needs of large-scale applications. Through technological innovation, it aims to solve existing issues in blockchain platforms such as slow transaction speeds, high costs, and poor user experience, promoting the widespread application of blockchain technology in decentralized finance (DeFi), gaming, and other fields, providing global users with fair, transparent, and efficient blockchain services.
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