Sui is a layer-1 blockchain that is designed to enable developers to create web3 experiences for a large number of users. Sui offers scalability and low-latency for simple use cases, and uses a unique data model to allow parallel agreement on transactions. Sui was introduced in 2022 and it aims to be the first internet-scale programmable blockchain platform. SUI, the native token of the blockchain, is scheduled to be released in the first half of 2023.
Sui blockchain is designed to optimize simple transactions, allowing them to be processed quickly without the need for consensus. Transactions are validated individually and not grouped together, which helps reduce latency. Sui does use a consensus protocol called Narwhal, but only to validate transactions involving shared objects. In Narwhal, everyone needs to agree on the rules. If someone tries to cheat or break the rules, the group will notice and the process won't continue until everyone agrees on what to do. This helps make sure that the transactions are secure and everyone can trust the network.
The unique design of SUI allows for parallel processing of transactions that are independent of each other, which makes the blockchain highly scalable and efficient.
Sui's native token, SUI, is used to pay for gas and is also used as delegated stake on validators.
As SUI is not released, the data on its supply is not tracked.
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