Sui Network has been developed using the Move language and is focused on fast and low-cost transactions.
Sui Network, a layer 1 blockchain created by Mysten Labs, a team of former Meta workers, has announced the launch your testnet (testnet). It is a private network where developers can test the feasibility of the blockchain and the performance of DApps.
The testnet, called Wave 1, will be open to validators and full nodes to improve decentralized coordination and incident response, as well as to identify a core group of operators who have experience in blockchain deployment, monitoring and debugging.
Sui is a highly anticipated blockchain as it is considered as one of the main competitors to Aptos, another blockchain created by former Meta workers. In fact, both blockchains have been developed using the same programming language, Move, originally created for Novy, Facebook's failed wallet.
SUI and the Mist
One of the peculiarities of Sui Network is that your token, SUI, can be divided into smaller parts, called Mist, which would be like cents of a euro. Each SUI is divided into 1.000 billion Mist, which allows for faster transfers of small amounts, reducing gas rates.
MIST also allows you to deal with the “coin dust”, small amounts of cryptocurrencies that remain locked in wallets, as gas fees are higher than the value of the coins themselves.
What is Sui Blockchain?
As we have explained, it is a layer 1 blockchain, with a consensus mechanism Proof-of-Stake, which allows creators to develop Web3 projects easily.
It also has functionalities for the generation of new generation smart contracts. One of Sui's objectives is to offer a very fast platform, with minimal latency periods, and great scalability.
To do this, Sui uses technology from parallel transactions, allowing you to process resources more efficiently.
Another of its characteristics is that avoid consensus when it comes to simple use cases, such as asset transfers and payment transactions. In these cases it uses its own system, called primitives, which are faster and have less latency.
The platform is maintained by a collection of validators permissionless that fulfill the same role as miners or validators of other systems
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