General description of the Sui Network ecosystem?
The Sui Network cryptocurrency ecosystem belongs to the organization Mysten Labs. It is a decentralized platform developed on a level I blockchain. At the same time, it is engaged in redefining asset ownership and servicing dApps applications that have a high sensitivity to lateness.
The blockchain uses the developments of Diem, which is a blockchain platform developed by Meta. However, it could not be fully implemented. For example, Sui used a modified version of Move, which was developed for Diem.
The functioning and security of the crypto network is provided by the PoS algorithm, which involves staking with delegation. It uses unique protocols. Thanks to them, calculations can be performed in parallel. Due to this, Sui has a huge potential for scaling its own crypto network.
Note that in October last year, a test network was launched. However, since last month, the blockchain has been fully launched.
Mysten Labs, which was founded in the fall of 2021, is engaged in the development of the crypto network. It was launched by a group of leading ex-managers of Meta Corporation. This team was engaged in the development of the aforementioned Diem blockchain and the Move programming language.
What is unique about the crypto network
The creators of the project see Sui as a cryptographic network of general use. They note that the site has an increased throughput capacity, accelerated operations. At the same time, it has low commission fees and an intuitive interface for Web 3.0. The creators strive to make such a platform so that dApps can work. Having high performance.
The architecture of the crypto network was described in detail in White Pepper. additionally, technical documents are provided. The unique language Sui Move is involved in the development. At the same time, a distinctive feature is that objects, not an account, are used as the basic storage element. They are made by smart contracts. Control is also carried out with their help.
Various variants of crypto assets can be used as an object. At the same time, they have their own unique identifier, owner, the ability to be changeable or remain stable.
What are the novelties in the Sui crypto project
In May, the cryptocurrency project announced the launch of a series of gaming applications on the blockchain as part of the development of Web 3.0. The developers said they had signed many partnerships with other teams to launch a new generation of games that were created on the Sui Network blockchain.
Since mid-May, new items have been added every week. Project Eluune, Run Legends, etc. were especially singled out from the list. The catalog of such decentralized applications is going to be expanded until mid-July. At the same time, the Walking Dead, which was created by the Orange Comet team, was singled out as the key game. It was created based on the TV series of the same name.
At the moment, it is known about the conclusion of more than 30 deals with different gaming organizations. Many of them are confident in the potential of the crypto network and called it the gaming future.
Recently there was another news. The project was able to sign a long-term cooperation with the Red Bull Formula 1 team. They plan to jointly develop a variety of games.