What is Sui？

Sui is the first permissionless Layer 1 blockchain with a PoS consensus mechanism designed to enable creators and developers to build experiences in web3 that will satisfy the next billion users. Sui can scale horizontally without limit to meet application demands while maintaining extremely low operating costs per transaction. Sui is the only blockchain today that can scale with the growth of web3 while achieving industry leading performance, cost, programmability and availability.

What is Sui

Sui is a smart contract platform maintained by a set of permissionless validators that act like validators or miners in other blockchain systems. Sui provides scalability and unprecedented low latency for simple use cases. Sui enables most transactions to be processed in parallel. This allows for better utilization of processing resources and provides the option to increase throughput by adding more resources. Sui abandons consensus in favor of simpler and lower-latency primitives for simple use cases such as payment transactions and asset transfers. This is unprecedented in the blockchain world and enables many new latency-sensitive distributed applications, from gaming to retail payments at physical points of sale.

Sui programming language

Sui is written in Rust and supports smart contracts written in the Move programming language to define assets that may have owners. The Move program defines operations on these assets, including: custom rules for creating them, transferring these assets to new owners, and altering operations on assets.

Sui economic model

Token：SUI

Supply: A fixed supply of 10 billion; part of SUI will participate in circulation when the main network is launched, and the remaining Token will be distributed as equity reward subsidies in the next few years.

Sui Validator

Sui validators can effectively scale network throughput infinitely to meet the needs of builders and creators. SUI tokens are used to pay for gas and also as a delegated stake for validators within an epoch. The validator's voting power for this epoch is a function of this delegated stake. Validators are periodically reconfigured based on the stake delegated to them. Within any epoch, the validator set is Byzantine fault tolerant. At the end of the epoch, fees collected through all transactions processed are distributed to validators according to their contribution to the operation of the system.

Sui Transaction

The smallest storage unit of Sui is called Object, which is defined as an asset. An immutable asset, a single asset can only be modified by its specific owner, and a shared asset can be modified by multiple owners. For simple transactions, such as minting an NFT or sending an NFT or other tokens, these single asset transactions can bypass the consensus protocol in Sui and be directly confirmed by the client. For more complex transactions - affecting assets shared or owned by multiple addresses, such as asset management and other DeFi use cases, etc., consensus is invoked for processing.

Developer Build

Sui enables developers to define and build

On-chain DeFi and traditional finance (TradFi) primitives: enabling real-time, low-latency on-chain transactions
Reward and Loyalty Program: Deploy massive airdrops to reach millions of people with low-cost transactions
Complex game and business logic: transparently implement on-chain logic, expand the functionality of assets, and provide value beyond pure scarcity
Asset Tokenization Services: Ownership of everything from property deeds to collectibles to medical and education records works seamlessly at scale
Decentralized social media network: Empower creator-owned media, posts, likes, and networks with privacy and interoperability