Two dominant narratives exist around improving blockchain scalability. The first focuses on layer-2 solutions, where modular designs allow each layer to specialize, enhancing performance compared to monolithic networks like Ethereum. The second highlights alternative layer-1 blockchains that achieve sub-second scalability without layered architectures. By 2023, projects like Solana—with its Proof of History consensus—demonstrated near-instant transaction times. Emerging in this space, the Sui Network, developed by former Meta engineers, has gained attention for its exceptional performance.
This review explores Sui’s innovations: parallel processing, Sui objects, and the Move programming language. Let’s dive in!
Sui Network History
Sui’s origins trace back to Meta’s blockchain initiatives, evolving through several rebrandings before culminating as an independent project.
Key Milestones:
- May 2018: Facebook launches blockchain efforts under David Marcus.
- June 2019: Project Libra announced, featuring the Libra stablecoin and Move language.
- 2020–2021: Regulatory hurdles force rebranding to Diem, which later sells its assets.
- 2022: Mysten Labs founders (ex-Meta team) launch Sui Blockchain.
Recent Achievements (2023–2025):
- May 2023: Mainnet launch and token listings on OKX, Binance, and others.
- August 2023: 1M active addresses within two months.
- 2024: TVL surpasses $1B; Sui Bridge enables Ethereum interoperability.
Move Programming Language
Move, originally developed for Diem, is a resource-oriented language ensuring assets cannot be duplicated or lost accidentally. In Sui:
- Objects replace traditional addresses.
- Global storage is object-centric, enabling parallel execution.
- Module initializers simplify smart contract deployment.
Comparison with Ethereum:
| Feature | Ethereum (Solidity) | Sui (Move) |
|------------------|---------------------------|--------------------------|
| Storage Model | Account-centric | Object-centric |
| Transaction Processing | Linear blocks | Parallel batches |
| Language Focus | Flexibility | Resource safety |
Sui Blockchain Consensus
Sui uses Delegated Proof of Stake (DPoS) with:
- Narwhal: DAG-based mempool for parallel transaction batching.
- Bullshark: Orders transactions post-validation.
Benefits:
- 125,000 TPS with 2-second latency.
- Decentralized validation across 106 nodes (as of 2024).
SUI Tokenomics
- Max Supply: 10B SUI.
Distribution:
- 50% Community Reserve
- 20% Early Contributors
- 14% Investors
Use Cases:
- Staking, governance, and gas fees.
- Storage Fund offsets on-chain data costs.
Sui Ecosystem
Top Projects:
- DeFi: Turbos Finance (DEX), Typus (yield infrastructure).
- Gaming: Sui 8192 (puzzle game), Worlds Beyond (virtual worlds).
- NFTs: Cosmocadia (farming game).
- Wallets: Suiet Wallet, OKX Wallet.
TVL Growth: $1.77B (2024), reflecting rapid adoption.
How to Buy SUI
Recommended Exchanges:
- OKX
- Binance
- Bybit
DEX Option: Cetus Protocol.
Frequently Asked Questions
How does Sui’s object-centric model differ from Ethereum?
Sui treats assets as independent objects (not accounts), enabling parallel processing and higher scalability.
What are SUI’s primary use cases?
- Medium of exchange.
- Staking and governance.
- Funding on-chain storage.
Which apps dominate Sui’s ecosystem?
DeFi (Turbos, Cetus), gaming (SUI 8192), and NFTs (Cosmocadia).
Is Sui’s Move language compatible with other blockchains?
No—Sui’s Move implementation is optimized for its object-centric architecture.
Final Thoughts:
Sui redefines blockchain efficiency with its object-centric design and Move language. While competition from Ethereum L2s persists, Sui’s innovation positions it as a leader in high-speed, scalable decentralized applications.