SUI Sui

Sui (SUI) is a delegated proof of stake (DPoS) layer 1 blockchain based on the Move programming language. By providing decentralized application (Dapp) deployment with a superior smart contract architecture compared to competing chains like Ethereum, Sui aims to “cater to the next billion users in web3”. The blockchain uses a technique known as “transaction parallelization” to do this, allowing transactions to be processed in “parallel agreement.” Better data organization results from this “horizontal scaling,” as Sui refers to it, in the byzantine fault-tolerant proof-of-stake (PoS) consensus method.

A native asset SUI is used to pay for gas for all operations. It is also used by its owners to delegate stake to authorities to operate Sui within epochs, and periodically, authorities are reconfigured according to the stake delegated to them. Used gas is distributed to authorities and their delegates according to their stake and their contribution to the operation of Sui.

Sui was founded by a team of ex-Meta engineers: Evan Cheng; Adeniyi Abiodun; Sam Blackshear; George Danezis; Kostas Chalkias.