Our platform will now support a new crypto – Sui (SUI). Trade the coin in pairs with BTC and USDT on EXMO.com!
Sui is a Layer 1 blockchain and smart contract platform developed by Mysten Labs. The goal of the project is to provide instant settlement and high throughput while enabling a wide range of next-generation decentralised applications. The network’s native currency is Sui (SUI) with a maximum supply of 10 billion coins.
Sui blockchain employs the Proof of Stake (PoS) consensus algorithm with the possibility of staking and delegation. Sui code was written using a modified version of the Move language developed for Diem, a blockchain platform from Meta Corporation. Sui’s consensus procedure employs the novel Narwhal and Bullshark protocols, which enable parallel computing, making Sui highly scalable.
Sui developers are positioning it as a general-purpose network with high bandwidth, fast and cheap transactions, and an easy-to-use Web3 interface. In trial runs, the Sui network was able to process 120,000 transactions in a single second with an average latency of about 2 seconds.
Following the mainnet launch scheduled for 3rd May 2023, the SUI coin will serve four purposes on the network: staking for secure purposes and earning stake rewards, paying transaction fees, facilitating on-chain transactions underpinning the entire Sui economy, as well as giving holders the right to participate in future governance.
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