#nft -a level one blockchain designed for scalability and increased transaction speed, as well as the native token of this platform. SUI is used for transactions, interacting with applications, and governance. The Sui ecosystem includes various applications integrated into the network, including decentralized finance (DeFi), games, and NFTs.
Here is a more detailed description of Sui products and ecosystem:
1. Sui Blockchain:
Scalability and speed:
Sui is designed to handle a large number of transactions, making it suitable for decentralized applications that require high throughput.
Object-oriented model:
Sui uses a unique object-oriented model for data storage, which speeds up transaction processing and improves efficiency.
Programming language Move:
Sui uses the Move programming language, designed for creating secure and scalable smart contracts.
Native token SUI:
The SUI token is used to pay for gas fees, staking, and participation in network governance.
2. Sui Ecosystem:
DeFi:
Sui provides infrastructure for developing and deploying decentralized finance applications.
Games:
Sui supports game development on the blockchain, offering fast transactions and low fees.
NFT:
Sui supports the creation and trading of non-fungible tokens (NFTs).
Decentralized applications (dApps):
Sui offers capabilities for developing and deploying various decentralized applications.
3. SUI Token:
Gas fees:
SUI tokens are used to pay for transaction fees on the network.
Validator rewards:
Gas fees also reward validators who ensure the security and stability of the network.
Governance:
SUI tokens can be used to vote on governance issues and protocol updates.
Staking:
Users can stake SUI tokens to participate in the Proof-of-Stake process and earn rewards.
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