Thread by @Sui_Station

🧐What is #Sui?

You’ve probably heard about Sui, which has gained much traction recently on Twitter.

So, what exactly is Sui, and how is it different from the many other Layer 1 blockchains that already exist?

🧵Let's dive in

$SUI #MOVE #Airdrop #Suiecosystem #LFM

What will be covered?

📌Introduction
📌Team
📌Key technologies
📌Capital
📌$SUI Tokenomics
📌Sui Ecosystem status
📌Key Takeaways

1/ Introduction

@SuiNetwork (by @Mysten_Labs) is a new generation of Layer 1 Blockchains.

Built with high speed, high scalability, and low latency, Sui's expected to become the lead competitor in the non-EVM market.

2/ Team

Similar to Aptos, @Mysten_Labs (the company behind Sui) formed by key ex-members from Meta (Facebook) team

- @EvanWeb3 CEO (Formerly Head of R&D at Novi and Director of Engineering at Meta; previously Apple for 10y)
- @b1ackd0g CTO (Formerly Principal Engineer at Novi)

- @EmanAbio CPO (Formerly Product Lead at Novi, Meta; previously VMware, Oracle, PeerNova, HSBC, JP Morgan)
- @GDanezis Chief Scientist (Formerly Research Scientist at Novi, Meta; previously Chainspace, Microsoft)

3/ Key technologies

3.1. Fast, low latency, low cost, scale horizontally

Sui can scale horizontally without any upper bounds.

That enables them to meet application demand while maintaining low operating costs per transaction.

For details, in blockchains, independent transactions are pushed into sequential blocks that creates wasteful computational power, thus reduce speed and increase cost.

In Sui, data is organized into independent objects so transactions can be executed in parallel

Img source: Sui

Because of this, simple transactions can be executed instantaneously, whereas complex ones take a few seconds.

They achieve this through Byzantine consistent broadcast, thus eliminating the overhead caused by global consensus yet without sacrificing safety and liveness😎

3.2. MOVE

Sui uses a programming language called #MOVE

MOVE can bring many benefits to Sui:
- Easy customization of digital assets
- Secure storage of information
- Easy resolution of bugs
- Quick code verification and testing
- Easy multi-chain development for applications.

4/ Capital

#Sui raised a total of $336M only after two rounds from high-profile investors at a $2B valuation.

📍Dec 2021: $36M led by @a16z

📍Sep 2022: $300M led by @ftxventures +15 top tier ventures also invest in Sui (@jumpcapital, @coinbase, @BinanceLabs, and many more)

5/ Tokenomics

- Native token: $SUI
- Total supply (TS): $10B, no token emissions.
- 4 token utilities:
+ Staking for network security
+ Transaction fees
+ Storage costs
+ Governance votes and medium of exchange.

A portion of $SUI TS won't be unveiled until the mainnet launch.

6/ Sui Ecosystem Status

- As we can see, Sui Ecosystem has witnessed spectacular growth lately.

- With over 75 projects, most of which are in the early stages, there can be many opportunities for early users.

https://twitter.com/Sui_Station/status/1580224384945356800?s=20&t=XH4PAgEdvjvXde6vEGBaHg

7/ Key Takeaways

- There's no doubt that Sui will be the next Layer 1 star.

- With great techs and visions, SUI is an investment opportunity worth following.

- Sui Ecosystem come with many opportunities for early users.

🥰 Thanks for reading this far. I hope this topic can be helpful to you.

We'll release more insights, informative content, and tools for our dear followers to experience this wonderful blockchain.

So pls follow us and stay tuned 🚀

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