$SUI Sui is a layer 1 blockchain platform designed to offer high speed, low fees, and scalability for decentralized applications (dApps). Its main goal is to solve the scalability, security, and cost issues associated with existing blockchains, such as Ethereum. Sui stands out for its programming language, Move, and its ability to execute transactions in parallel, allowing for high performance and an optimized user experience.

What is Sui?

Layer 1 Blockchain:

Sui is a fundamental blockchain, like Bitcoin or Ethereum, that serves as the foundation for other applications.

Developed by Mysten Labs:

The platform was created by Mysten Labs, a team founded by former Meta engineers who worked on the Diem and Move projects.

Move Programming Language:

Sui uses Move, a secure and efficient programming language originally developed for Diem, which facilitates the creation of smart contracts and dApps.

Object-Centric Data Model:

Unlike other blockchains that use account-based models, Sui is based on objects, allowing for more efficient and parallel execution of transactions.

Parallel Transaction Execution:

Sui can process multiple transactions simultaneously, significantly increasing the speed and capacity of the network.