Sui ($SUI): Crypto Called 'Solana Killer'!

In the ever-evolving crypto world , Sui is emerging as a promising Layer-1 blockchain, known as the ' Solana Killer'.
With a focus on transaction speed, reduced latency in smart contract deployment , and overall transaction speed, Sui is setting a new standard in blockchain technology .

What is Sui crypto?
Sui is a Layer-1 blockchain launched in May 2023, with a native token of the same name, namely SUI. Using Move, a Rust-based programming language, Sui provides high-speed transactions, instant processing, and scalability.
Sui differentiates itself from previous blockchain ecosystems by enabling parallel processing of transactions and horizontal scalability, which allows it to maintain low transaction costs.

The Sui blockchain operates on a delegated proof-of-stake consensus mechanism and has an upper limit of 10 billion SUI tokens. At the time of the initial token sale, many of the tokens offered were set aside for community reserves, for developers, app testers, and others. 14% of available tokens are eligible for investor purchase.

Sui Digital Assets (SUI) and Their Functions

Sui's native token, SUI, will facilitate the network's proof-of-stake consensus mechanism, on-chain voting for blockchain upgrades, and gas fees. It also allows Sui users to participate in the system's DeFi activities .

Sui's mainnet launch on May 3 was accompanied by a SUI token sale, with each participating crypto exchange offering 225 million tokens.

Sui tokens will be distributed both to community reserves for research and development, grants, and subsidies, as well as to early project contributors, application testers, and other stakeholders. There is a hard limit of 10 billion SUI tokens in total. 14% of tokens released at launch are available to investors.

Why is Sui Crypto Popular?

Sui attracted attention in the crypto community following an exchange between Binance founder CZ and Tron founder Justin Sun. Sui differentiates its validation system by providing parallel processing of transactions, which Sui developers say will increase throughput, reduce latency, and improve scalability. Potential use cases of parallel process validation systems include gaming , retail payments, and physical points of sale using Sui.
To enable this type of transaction processing, Sui scales horizontally, meaning it has no ceiling to meet application demands, and can maintain low operational costs with each transaction. Sui does not require global consensus on an orderly list of transactions, which is a major bottleneck area for many existing blockchains.