Sui Network: The Emerging Force of Innovative Blockchain Technology

Introduction

Mysten Labs launched Sui in 2023, a new layer 1 network based on the Move programming language. The infrastructure of Sui makes it an ideal choice for building Blockchain games and complex DeFi applications.

Overview of Sui Network

Sui is an efficient and fast layer 1 Blockchain that can complete transactions in one second and supports parallel processing. Since its launch, Sui has accumulated a market capitalization of over $1 billion, ranking among the top 50 tokens. Its ecosystem is rapidly developing, with a total locked value of ( TVL ) reaching $464 million, primarily distributed across lending protocols and decentralized exchanges.

One of Sui's major innovations is the zkLogin wallet technology, which allows users to log into applications on Sui using common web credentials such as Google and Facebook accounts. This greatly simplifies the user experience, making it as easy to enter the blockchain world as using a regular website. In addition, Sui has introduced native account abstraction functionality, providing developers with greater flexibility.

For users, the transaction speed of the Sui network is lightning fast, with extremely low fees, averaging less than one cent per transaction. This makes Sui an ideal platform for developing complex game contracts, innovative DeFi protocols, and high-frequency trading.

Ecosystem Highlights

Gaming Field

One of the most popular games on Sui is "Panzerdogs," a 2D tank battle game where players can fully own in-game assets. Developed by the experienced Lucky Kat Studios, "Panzerdogs" showcases Sui's potential in the gaming field.

In addition to "Panzerdogs", Sui has also attracted several high-quality games, such as the action game "Samurai Shodown", the open-world game "The Walking Dead Lands", and the strategy game "Legend of Arcadia". These games can all be found on Sui's PlayBeyond platform.

DeFi ecosystem

In the DeFi space, the lending protocol Scallop Lend leads with a TVL of $72 million. Scallop aims to provide institutional-grade quality, enhanced composability, and robust security for the DApp ecosystem of Sui. The prosperity of lending protocols often signals an increase in ecosystem liquidity, which is a positive sign for the development of Sui.

Cetus, as the leading DEX on Sui, adopts a concentrated liquidity model similar to UniSwap v3, but is specifically designed to leverage the Move programming language. Cetus not only performs excellently on Sui but also has a strong influence on the Aptos chain, gradually becoming an important player in the Move ecosystem.

Conclusion

Sui has become one of the most notable public chains in the market with its innovative technology, strong support, and early product market positioning suitable for blockchain games. From liquidity mining to gaming entertainment, Sui offers users a rich and diverse experience. In particular, its native wallet product has greatly simplified the entry barrier for new users, which is a significant improvement over industry standards.

As the market gradually warms up, the future of Sui is full of hope. We look forward to seeing it continue to innovate and grow in the Blockchain technology and application fields, bringing new possibilities to the entire industry.