: : [Report] Complete Guide to Sui
Written by @Steve_4P
(Full Text)
PDF Report -
(Summary of Text)
1. Sui: The Fastest Growing Layer 1 Blockchain
2024 can truly be described as the era of saturated blockchain infrastructure. In particular, the blockchain industry, which embraces the open-source ecosystem, faces a challenge in establishing uniqueness due to the ease of replicating and mass-producing infrastructure. However, this trend will not continue indefinitely. In any market, there has never been a scenario where countless infrastructures coexisted for an extended period. The infrastructure market is now entering a new phase. In such times, it is essential to focus on infrastructures that have developed their own distinct identity, equipped with unique technologies and direction. Sui blockchain, in my opinion, is the Layer 1 blockchain that best meets these criteria.
In just one year since its mainnet launch, Sui has achieved various milestones: its Total Value Locked (TVL) stands at around $800 million, ranking second among non-EVM blockchains, and its daily average transaction volume consistently ranks in the top five. In this report, we will explore the technical background, motivations, and ecosystem developments that have driven Sui's rapid growth.
2. Sui’s Technology: No Scalability Issues
Sui is fundamentally different from other blockchains in terms of its consensus design. While most blockchains combine transaction ordering and consensus, Sui separates mempool from consensus, reducing network overhead.
2.1 Narwhal and Mysticeti
Currently, Sui uses Narwhal as its mempool protocol and Mysticeti for consensus. One notable feature of Narwhal is its structure, which includes “workers” and “primaries,” allowing the network to scale in parallel.
To explain further, validators within Narwhal can have multiple worker machines. As real-time demand on the Sui network increases, additional worker machines can be deployed to handle network transactions. This is why Sui doesn’t face scalability issues (for more on how Narwhal works, refer to the report).
So, what is the problem? The issue is latency. While Sui’s previous consensus mechanism, Bullshark, delivered decent performance, a latency of over two seconds is too long to maximize user experience. This led to the development of a new consensus to reduce latency, resulting in Mysticeti.With the adoption of Mysticeti, Sui has reduced its latency from two seconds to just 0.397 seconds, making it one of the fastest blockchains in existence today (for more details on how Mysticeti reduces latency, refer to the report).
3. Sui’s Move
One of Sui’s most unique aspects is its programming language, particularly its object-based model. Sui’s Move enables a more three-dimensional representation of ownership.
In traditional blockchain models, including the original Move language, assets were stored in global storage by addresses or type names. However, Sui introduces distinct objects with unique IDs that are independent of blockchain addresses.The most interesting feature of Sui’s object model is that objects can own other objects. To put it simply, tokens can own tokens. This means NFTs can own utility tokens and vice versa.
A good example of this feature in action is @_StudioMirai’s @PrimeMachin, where the $KOTO token is required to color the @PrimeMachin NFTs. By directly airdropping $KOTO tokens to the NFTs, they maximized the utility of $KOTO. This airdrop design fully utilizes the object model of Sui.This model could also be leveraged for services like @SuiNSdapp. For instance, instead of airdropping tokens directly to users with @FourPillarsFP subdomains, tokens could be airdropped to the subdomain NFTs themselves, enabling more creative marketing initiatives.
In addition, Sui’s Move allows for parallel transaction processing and features such as Programmable Transaction Blocks (PTB), which are covered in detail in the report.
4. Why Sui? Key Features of Sui
Apart from the features I’ve discussed, Sui offers a host of other unique characteristics. For instance, with zkLogin, Sui removes various obstacles to creating blockchain wallets while still supporting self-custody.@stashedofficial allows the transfer of Sui ecosystem tokens, including Sui tokens, through links or QR codes without needing to know the recipient’s address, revolutionizing the asset transfer framework.
@WalrusProtocol, while not directly related to Sui, is expected to complement Sui as an independent storage protocol that will be frequently used alongside Sui. A whitepaper on Walrus has already been published, and I plan to cover it in detail soon.
Finally, Sui’s @SuiPlayOfficial, which was announced at KBW, is a clear indication of how committed Sui is to its vision and mission. While everyone else is launching hardware devices like mobile phones, Sui is launching devices specifically for gaming, demonstrating their dedication to building a gaming ecosystem. As of now, over 2,000 Sui Play devices have been sold.
5. What Are You Waiting For?
As I write this, Sui has successfully onboarded $USDC through its partnership with @_circle_usdc and is innovating the film industry by collaborating with @MoviePass, a U.S.-based subscription-based movie ticketing service.
The Sui report I completed in early September is already outdated after just one month. This reflects how quickly Sui is advancing and launching new initiatives.If you are truly eager for a new blockchain infrastructure, I suggest reading the Sui report written by Four Pillars.
---
You can see the full version of "Complete Guide to Sui"in the link below:
Related People, Projects :
@SuiNetwork
@EvanWeb3
@EmanAbio
@Mysten_Labs
@WalrusProtocol
@LefKok
@b1ackd0g
@GDanezis
@kostascrypto
@SuiPlayOfficial
@suilendprotocol
@_circle_usdc
@aaonchain
@SuiChiefEcon
@Scallop_io
@navi_protocol
@doubleup_app
• Follow @FourPillarsFP for future articles
• Sign Up website() to access in-depth reports and newsletter
• Join the telegram() to receive article updates4pillars.io/en/reports/sui…
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Written by @Steve_4P
(Full Text)
PDF Report -
(Summary of Text)
1. Sui: The Fastest Growing Layer 1 Blockchain
2024 can truly be described as the era of saturated blockchain infrastructure. In particular, the blockchain industry, which embraces the open-source ecosystem, faces a challenge in establishing uniqueness due to the ease of replicating and mass-producing infrastructure. However, this trend will not continue indefinitely. In any market, there has never been a scenario where countless infrastructures coexisted for an extended period. The infrastructure market is now entering a new phase. In such times, it is essential to focus on infrastructures that have developed their own distinct identity, equipped with unique technologies and direction. Sui blockchain, in my opinion, is the Layer 1 blockchain that best meets these criteria.
In just one year since its mainnet launch, Sui has achieved various milestones: its Total Value Locked (TVL) stands at around $800 million, ranking second among non-EVM blockchains, and its daily average transaction volume consistently ranks in the top five. In this report, we will explore the technical background, motivations, and ecosystem developments that have driven Sui's rapid growth.
2. Sui’s Technology: No Scalability Issues
Sui is fundamentally different from other blockchains in terms of its consensus design. While most blockchains combine transaction ordering and consensus, Sui separates mempool from consensus, reducing network overhead.
2.1 Narwhal and Mysticeti
Currently, Sui uses Narwhal as its mempool protocol and Mysticeti for consensus. One notable feature of Narwhal is its structure, which includes “workers” and “primaries,” allowing the network to scale in parallel.
To explain further, validators within Narwhal can have multiple worker machines. As real-time demand on the Sui network increases, additional worker machines can be deployed to handle network transactions. This is why Sui doesn’t face scalability issues (for more on how Narwhal works, refer to the report).
So, what is the problem? The issue is latency. While Sui’s previous consensus mechanism, Bullshark, delivered decent performance, a latency of over two seconds is too long to maximize user experience. This led to the development of a new consensus to reduce latency, resulting in Mysticeti.With the adoption of Mysticeti, Sui has reduced its latency from two seconds to just 0.397 seconds, making it one of the fastest blockchains in existence today (for more details on how Mysticeti reduces latency, refer to the report).
3. Sui’s Move
One of Sui’s most unique aspects is its programming language, particularly its object-based model. Sui’s Move enables a more three-dimensional representation of ownership.
In traditional blockchain models, including the original Move language, assets were stored in global storage by addresses or type names. However, Sui introduces distinct objects with unique IDs that are independent of blockchain addresses.The most interesting feature of Sui’s object model is that objects can own other objects. To put it simply, tokens can own tokens. This means NFTs can own utility tokens and vice versa.
A good example of this feature in action is @_StudioMirai’s @PrimeMachin, where the $KOTO token is required to color the @PrimeMachin NFTs. By directly airdropping $KOTO tokens to the NFTs, they maximized the utility of $KOTO. This airdrop design fully utilizes the object model of Sui.This model could also be leveraged for services like @SuiNSdapp. For instance, instead of airdropping tokens directly to users with @FourPillarsFP subdomains, tokens could be airdropped to the subdomain NFTs themselves, enabling more creative marketing initiatives.
In addition, Sui’s Move allows for parallel transaction processing and features such as Programmable Transaction Blocks (PTB), which are covered in detail in the report.
4. Why Sui? Key Features of Sui
Apart from the features I’ve discussed, Sui offers a host of other unique characteristics. For instance, with zkLogin, Sui removes various obstacles to creating blockchain wallets while still supporting self-custody.@stashedofficial allows the transfer of Sui ecosystem tokens, including Sui tokens, through links or QR codes without needing to know the recipient’s address, revolutionizing the asset transfer framework.
@WalrusProtocol, while not directly related to Sui, is expected to complement Sui as an independent storage protocol that will be frequently used alongside Sui. A whitepaper on Walrus has already been published, and I plan to cover it in detail soon.
Finally, Sui’s @SuiPlayOfficial, which was announced at KBW, is a clear indication of how committed Sui is to its vision and mission. While everyone else is launching hardware devices like mobile phones, Sui is launching devices specifically for gaming, demonstrating their dedication to building a gaming ecosystem. As of now, over 2,000 Sui Play devices have been sold.
5. What Are You Waiting For?
As I write this, Sui has successfully onboarded $USDC through its partnership with @_circle_usdc and is innovating the film industry by collaborating with @MoviePass, a U.S.-based subscription-based movie ticketing service.
The Sui report I completed in early September is already outdated after just one month. This reflects how quickly Sui is advancing and launching new initiatives.If you are truly eager for a new blockchain infrastructure, I suggest reading the Sui report written by Four Pillars.
---
You can see the full version of "Complete Guide to Sui"in the link below:
Related People, Projects :
@SuiNetwork
@EvanWeb3
@EmanAbio
@Mysten_Labs
@WalrusProtocol
@LefKok
@b1ackd0g
@GDanezis
@kostascrypto
@SuiPlayOfficial
@suilendprotocol
@_circle_usdc
@aaonchain
@SuiChiefEcon
@Scallop_io
@navi_protocol
@doubleup_app
• Follow @FourPillarsFP for future articles
• Sign Up website() to access in-depth reports and newsletter
• Join the telegram() to receive article updates4pillars.io/en/reports/sui…
4pillars.io/en/reports/sui…
4pillars.io/en/start
4pillars.io/en/reports/sui…
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