Crypto Secrets: Sui, the Apple of Blockchain, and Web 3.

SUI❗ SUI❗ SUI❗.

Football lovers will think I’m referring to Cristiano Ronaldo’s signature goal celebration.

Nah, I'm talking about the future of blockchain and Web3.

SUI Logo

SUI is a Web3 platform or blockchain network like ETHEREUM and SOLANA, but with enhanced deployment of smart contracts and increased transaction speed.

Simply put, SUI is an Upgrade to all existing Blockchain networks.

This article embodies everything you need to know about SUI and how you can get on board, The topics covered in this article are as follows:

INTRODUCTION TO SUI BLOCKCHAINSUI Technology
SUI token and use cases
SUI network wallet
Top Sui Dapps
Conclusion and SUI Alphas.INTRODUCTION TO SUI.Current Web3 infrastructures are slow, expensive and unreliable, with SUI we’re creating a 5 G-like upgrade for Web3 to match and better the Web2 standards" Evan Cheng, Co-founder and CEO of SUI.

SUI is the abbreviation for "Simple User Interface." It's an improved Web3 platform for the next generation of enhanced Daaps.

SUI is a Layer 1 blockchain that boasts 120,000 TPS (transactions per second) compared to major platforms like Ethereum with a 27 TPS rate and Solana with a 65,000 TPS rate.

The main aim of the team is to solve the main problems of the Web3 ecosystem, problems like speed, cost, and scalability.

To achieve this, the teams introduced the "parallel scaling" means of processing transactions, which allows multiple transactions to be processed without dependency on one another, unlike the "vertical scaling" used by traditional blockchain platforms, where the next transaction depends on the completion of the previous transactions.

Let's talk about the technology used by SUI that makes it unique...

SUI TECHNOLOGY

The introduction of the "Parallel Scaling" transaction processing method is what makes SUI unique and better than the traditional Blockchain platforms that use the "Vertical Scaling" Method.

Traditionally, Blockchain transactions are processed and added One after the other. When plenty of transactions get added at the same time, this often causes network congestion that slows down speed and increases transaction costs.

This method is known as "Vertical Scaling".

On the other hand, SUI uses the better opposite, which is "Parallel Scaling" where transactions can be processed through different validators without dependency on one confirmation outlet like the traditional blockchain processing method.

My Analogy

Let’s say there are Tanks of water connected with pipes and one Outlet to serve users. The tanks are the transactions, the pipe connections are the traditional blockchain technology/vertical scaling, and the one outlet is the completed transaction.

Following the above analogy, you’ll realize that when the tanks increase, it’ll take more time for the queue to move, and the one outlet won’t serve many users who need water at the same time. The above Analogy is the Vertical Scaling method used by traditional Blockchain platforms.

I'll use the same tank analogy for SUI's parallel scaling, except that in parallel scaling, all the tanks are not entirely connected together, and it has multiple outlets that can serve the users at the same time.

• For more understanding, if we have ten tanks with vertical scaling, all the tanks are connected and directed to one outlet, but with parallel scaling, the tanks can be grouped into five with one outlet each, meaning five outlets.
• Parallel scaling will serve faster and better and what makes parallel scaling more interesting is it can be scaled to serve more if the need arises, I can't say the same for Traditional Blockchain.

Every blockchain has its own programming language; Ethereum has solidity; and the SUI programming language is Move.

Let's discuss briefly the history of SUI.

HISTORY OF THE SUI NETWORKThe SUI Network TEAM

During the 2019–2021 Bullrun, many Web2 institutions developed an interest in Web3.

Meta, formerly Facebook, was one of the big Web2 institutions that ventured into Web3.

They were building a project known as "Libra."

The executives said "they wanted to revolutionize the financial system globally," but they faced a tough barrier from regulatory bodies, which eventually caused them to discontinue the project in 2022.

After Meta discontinued the Libra project, some of its engineers teamed up to build SUI using the Libra programming language, which is MOVE.

The team includes Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias, and they are all former Meta engineers.

They founded Mysten Labs and Created the SUI network. Testnet went live in August 2022 and mainnet followed in May 2023.

The Sui Network Team

• The project raised $36 million in Series A and $300 million in Series B, totaling $336 million raised.
• They are backed by 14 important venture capital firms, which include A16Z, Coinbase Venture, Binance Lab, and many more.

"My conviction is that SUI is a based project with a based team and based backing.With web3 going mainstream, there'll be demands for the SUI network because of its web2-like ability to process a lot of information, unlike Ethereum and other major platforms, and this will affect the value of the SUI network positively." Based means legit or strong in Web3 lingo.

Now, let's discuss the SUI Network token, $SUI.

SUI NETWORK TOKEN, $SUI.

• Every Web3 network has a native token, and these native tokens serve different purposes within the network ecosystem: Ethereum has $Eth, Solana has $Sol, and SUI has $Sui.

"Native tokens are like legal tender of any Web3 Network/Platform”$SUI serves four purposes in the SUI network.1. Transaction fee:

$SUI is like the currency you use to pay fees for transactions or other operations on the Sui network, just like countries have legal tenders too.

2. Governance:

Being a holder of SUI coins gives you a say in on-chain voting for things like protocol upgrades and many more.

3. Staking:

You can stake SUI to become a validator or participate in the proof-of-stake mechanism.

• "Proof of Stake (PoS) is a way to confirm transactions on a blockchain. Validators are chosen based on how much cryptocurrency they hold. They’re the ones responsible for creating new blocks and confirming transactions. It’s designed to make the network secure and encourage honest behavior." In return, Validators get rewarded.

4. Multiple Utilities:

$SUI can be used for many things, like regular currency, e.g., saving, fixed deposits, staking, investing, borrowing, and lending. Can be traded for a possible increase in value/price for profits, and advanced features enabled by smart contracts are available across the Sui ecosystem.

$SUI Tokenomics

Source: CoinMarketCap

Rank: #56

MarketCap: $2.2 B

Max Supply: 10B $SUI

24 HRs Volume: $282.98 M

Circulating Supply: 1.3B $SUI

• The rest of the $SUI token will be released into supply according to a planned schedule by the team. $SUI Tokenomics further demystified Here.

$SUI Token can be bought on Centralized exchanges like Binance, OKX, MEXC, Gate.io, and many more. Stable coins like USDT and USDC can also be swapped for $SUI on decentralized exchanges like Cetus, SuiSwap, and Bluemoves.

DAPPS in the SUI Network.

There are many DAPPs in the SUI Network, but I'll mention only a few I find useful and important in no particular order.

1. Cetus:

Of course, the first DAPP to be mentioned is a very good decentralized exchange. At the time of writing this article, Cetus is the leading Dex on the SUI Network.

2. SuiNS:

SUI Naming System: Naming systems are a very big business in blockchain; every major Web3 platform has its own naming service platform.

3. Scallop Lend:

Scallop is a leading lending app on SUI.

4. BluefinApp:

A decentralized perpetual trading platform on the Sui Blockchain Network. It delivers fast trades, high-speed trading bringing the web2 and web3 worlds together, and a hassle-free trading experience with no wallet needed.

5. Cosmocadia:

This is one of the SUI gaming Dapps; it's a game where players need to work together to survive the wilderness by fishing and farming. It's a community-centered game.

To explore more Dapps on the SUI Network, click Here.

SUI Network Wallets.

These are wallets that are compatible with the SUI Network; they enable easy interaction within the SUI Network. They are available on mobile devices and browser extensions. I'll list a few popular wallets.

1. SUI Wallet:Sui Wallet

Sui Wallet is the most popular wallet on the Sui Network . Just install the browser extension to unlock endless possibilities on the Sui Network: access dapps, transfer coins, NFTs, and more.

How to set up a Sui Wallet: HERE

2. Suiet Wallet:

It claims it's “the Sui wallet for everyone, built on the Sui blockchain.” Suiet helps you manage your portfolio on SUI Network.

3. Keystone
4. Maven
5. Splash wallet.CONCLUSION

Sui is a very good project with massive potential.
With all the topics covered in this article so far, you can kick-start your journey on the SUI Network and continue exploring this project on your own.

• My conviction is that SUI Network will do very well in this bull run.
• The network has recorded massive amounts of inflow in the past few months, and its native token $Sui increased from $0.3 to $2.2 (+700%) in the last 7 months; likewise, other tokens on the SUI Network are doing really well too.

That's a good sign that the SUI Network is growing, and as we get into the full-blown bull run after the Bitcoin halving with the good projects building on the SUI Network, I very well expect the network to grow exponentially higher than I imagined because when the majority of users start to see the potential compared to other networks out here, the SUI network will go parabolic.

• When the SUI Network eventually gets massive, rest assured that early believers and investors will gain the most from it.
• I'll share some tokens that are already doing well and that I believe will do really well on the Sui Network when the rally begins.

You can buy these tokens on centralized or decentralized exchanges on the SUI Network.

1. $SUI:

The native token of the Sui Network, and as we all know, native tokens are directly affected when a Web3 network is gaining attention,. $Sui has already moved +700% from its all-time low of $0.3, and it's current price is $1.63.

$Sui has the potential to become 100's of $ token.2. $SSWP:

This is the token of SuiSwap DAPP, a decentralized exchange with a launchpad on the SUI Network.

The current price is $0.0015; at this price, I believe $SSWP is undervalued, and it'll cancel one more zero soon.3.$FUD:

This is a high-risk call.

$Fud is SUI's number one meme coin, and it's backed by SUI Network. We know how massive meme coins do pump, especially in the Bullrun.

This is a possible x100 hidden gem.