1. Research Institute Review
1-1. Sui's development team - Mysten Labs - is developed by four former Meta engineers who all worked in Meta's crypto division Novi before founding Mysten Labs and participated in developing the Diem blockchain and Move programming language. Sui ecology currently has more than 20 projects, including more than ten native projects, in the areas of NFT collections, the NFT trading market, domain name, decentralized exchange and chain tour.
1-2, Aptos inherited nearly three years of open source technology and development experience from Die project, which can quickly realize the construction of the underlying architecture and the layout of ecological projects. In contrast, Sui chose to build the Layer1 network from scratch, which makes it lag far behind Aptos in the development process, so in the early stage of attracting capital and investors' attention, the fast-developing Aptos can attract investors' attention more than Sui, which is still building the underlying architecture. Both are committed to improving the security and scalability of the blockchain as Layer1 public chains, and creating a high-performance blockchain infrastructure network for billions of people. Aptos is focused on marketing, while Sui is more focused on innovative applications of the underlying technology. sui's improved Move language can more clearly indicate the ownership, mutability, and composability of objects, making it a natural fit for building metaverse facilities.
2. Recent breakout points
SUI and APT are tied for META's skyrocketing projects. With APT's airdrop of riches, the community has higher expectations for SUI.
3. Project Introduction
The Sui platform is built on Sui Move, which is derived from the core Move programming language. As a permissionless network, anyone with the right setup and enough shares can become a verifier. ssui uses Proof of Delegated Interest (DPoS) to determine which verifiers operate the network and their voting rights. Independent verifiers are the backbone of the Sui network. Validators run unique instances of Sui software on separate machines and are jointly responsible for protecting the network. They process transactions and participate in consensus to ensure that Sui is the most secure network. 4.
4. Token Role
According to Sui's official token economic model whitepaper posted on Github, Sui's token is SUI, with a total supply of 10 billion. Its uses are four purposes, including participating in PoS pledges, paying gas fees, supporting Sui's economic system, and participating in on-chain voting.
5. Token Economy Model
Total SUI volume: 10 billion
50.00% Community Fund (pledge incentives, etc.)
20.00% Early contributors
5.99% Community Incentives & App Testers
6. Project Highlights
6-1. Both Aptos and Sui use the Move language, but they are different: Aptos basically follows the classic design ideas of the Diem white paper in its design, while Sui has been upgraded and adapted to form the unique Sui- Move language. The major difference from Move is that Sui uses an object-centric model rather than an address-centric model. As a result, almost everything on Sui, such as tokens, smart contracts, NFTs, etc., can be represented as "objects". Each object has a set of properties, including owner address, read/write properties, transferable properties, functional properties, etc. Sui-Move explicitly indicates the ownership, sharing, mutable or immutable properties of an object, while Aptos does not explicitly state them. In addition, Sui's ownership API is more concise than Aptos' API because it shows the blockchain design more clearly. In terms of functionality, Sui-Move has certain advantages over the Move language in terms of security, smart contract support, programming model flexibility and compatibility.
6-2. Sui is different from the token economics model of traditional proof-of-interest chains, Sui's token economics model adds a "stored fund" function. Since a blockchain is a data structure that only increases and never decreases, the data that needs to be maintained on its chain will become more and more expensive as time goes by, which leads to the fact that later users of Sui need to pay higher fees than earlier users. The "storage fund" is basically created to solve this problem by allowing early users to pay more fees so that all households can use the network based on similar fee levels.
7. Investment Institutions
Mysten Labs, Sui's development team, received $36 million in funding from a16z and others in December 2021 and closed a $300 million Series B round led by FTX Ventures in September 2022, valuing the company at $2 billion. Investment institutions include a16z, Binance Labs, FTX Ventures, Franklin Templeton, Coinbase Ventures, Bixin Ventures and others.
Twitter: Discord 750,000 people, Twitter 460,000 people, the community is hot.
9. Special economic model
10. Future Outlook
10-1. Community: Sui is inferior to Aptos in terms of ecological projects and community scale, but Sui has been committed to the innovation and application of underlying technologies, and has accumulated rich technical advantages in the past year. In this respect, Sui is unique even compared to other new Layer1 public chains such as Aptos.
10-2. The Future: Sui is the first unlicensed Layer1 blockchain designed from the ground up to provide a more user-friendly experience for Web3 users. However, technology is only as valuable as the real problems it solves and can only be truly successful if people are willing to pay for it. sui has been focused on innovation and application of the underlying technology, which brings a wealth of technical advantages. With Sui's mainnet about to go live, now is the time to turn those technological advantages into marketability. Through the "Wave to Mainnet" series of events, Sui is moving from behind the scenes to the forefront to showcase the technical strengths it has accumulated over the years. In the future, how the underlying technology will drive the overall DX/UX and who will be able to attract more users and mobility are questions that will be answered over time.
Sui, also known as SuiNetwork, is the first Layer1 blockchain designed from the ground up to enable developers to build a new experience for a billion new web3 users. Sui is horizontally scalable and can support diverse dApp development at high speed and low cost. Sui pioneers the universal blockchain, bringing users high throughput, ultra-fast settlement speeds, rich on-chain assets, and a user-friendly web3 experience. Sui is a leap forward in blockchain technology, designed from the ground up to meet the needs of all parties involved in cryptocurrencies.
Token Full Name: SuiNetwork
Token Name: Sui
Waiting for mainnet to go online
Waiting for mainnet to go online
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