What is Sui?

The purpose of Sui is to serve as the native coin of the Sui Network, a Layer-1 blockchain platform designed to enable faster deployment of smart contracts and improve transaction speeds. Sui aims to provide a highly efficient and cost-saving network, targeting verticals such as NFTs, gaming, messaging services, social networks, and decentralized identity platforms. Transactions with shared objects are ordered, but transactions involving owned objects can be executed at a near-instant speed in so-called “single writer apps.”

Sui uses a delegated proof of stake (PoS) mechanism to secure the network from sybil attacks, where validators and delegators take on acts similarly to other dPoS mechanisms. The unique element of Sui's network level architecture is the protocols leading to consensus, including the Narwhal protocol, which is developed to create and efficiently manage a secure network.

Sui differentiates itself from competitors through its use of the Move programming language and delegated Proof of Stake (DPOS) consensus algorithm, which offers fast transaction processing speeds. This makes Sui a competitive platform for on-chain use cases like games, finance, and other real-time applications.