Its Working, Use Cases and More

The Sui blockchain came into the crypto space to facilitate a vision of improving the DeFi sector. Sui is using ‘Move,’ a programming language derived from Rust. It is regarded as the most powerful smart contract programming language. 

What is Sui? A beginners guide.

The Sui Network is a Layer-1 blockchain that provides speedy deployment of smart contracts and efficient transaction processing. 

The platform aims to simplify and enhance the development of various applications and functions in the Web3 ecosystem while addressing the industry’s most common issues. 

Sui’s blockchain uses Move, a programming language derived from Rust and regarded as the most powerful smart contract programming language, to facilitate its vision and improve the DeFi sector. 

Sui’s validators perform functions similar to miners on other blockchains, but they stand out for their ability to process transactions in parallel. It is done to improve throughput, reduce latency, and increase scalability. 

Moreover, Sui’s horizontal scaling enables it to handle increasing demand without constraints while lowering operating expenses per transaction. Let’s take a look at how it operates. Sui blockchain operates differently from other blockchains since it employs a unique technique to handle transactions. 

In traditional blockchains, transactions are added sequentially, which can result in slower processing as more transactions are added. It is called vertical scaling. Sui takes a distinct approach. Instead of routing every transaction through all the computers in the network, it only examines the relevant portion of the data it needs to check. 

How Do Transactions Work on Sui Network?

The individual making a transaction sends it to all validators who validate transactions. Validators examine the validity of the transaction and vote on it based on their level of involvement in the network. 

The individual making the transaction collects votes from most validators and sends a certificate back to the validators. It allows Sui to process many transactions rapidly, surpassing 100,000 per second.

The Sui Network team comprises Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias, all of whom are former Meta engineers. They established Mysten Labs to create the Sui Network. 

A separate component of the project is its independent organization, The Sui Foundation. This organization’s function is to seek out partners, including large crypto exchanges such as Kucoin, OKX, and Bybit. 

These collaborations are intended to promote token sales and onboard more users to web3 through Sui Network, which opens up a wide range of use cases in various industries. Overall, the Sui network is revolutionizing the gaming industry with a team of compatible people using layer-1 blockchain.

Conclusion

Sui Network is a blockchain that simplifies and enhances the development of Web3 applications. It uses Move, a powerful smart contract programming language, to improve the DeFi sector and promote token sales. The network revolutionizes the gaming industry and offers a wide range of use cases in various industries.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.