After three rounds of rigorous testnets, the Sui Network Mainnet is live, and Chorus One is proud to support the network as a genesis staking provider and validator.
What is SUI?
Sui Network is a permissionless Layer-1 blockchain and smart contract designed from the ground up to make digital assets ownership fast, secure, and accessible to the next generation of Web3 users. Its pioneering architecture is implemented to create a world-class developer experience, in addition to vastly improving performance and user experience of L1 blockchains.
Sui uses Rust and supports smart contracts written in Sui Move - a customized version of the Move programming language that enables the definition and management of assets with owners. These assets can be created, transferred, and mutated through custom rules defined in the smart contract, offering a flexible way to manage digital assets on the blockchain. This enables a vast range of use-cases such as tokens, virtual real estate, and more.
SUI’s unique design features
- Parallel agreement
Sui has a unique system design that allows it to scale horizontally and handle a high volume of transactions at low operating costs. Unlike other blockchains that require global consensus on all transactions, Sui enables parallel agreement on independent transactions through a novel data model and Byzantine Consistent Broadcast. This approach eliminates the need for global consensus and enhances scalability without compromising safety and liveness guarantees.
The object-centric view and Move's strong ownership types enable parallel execution of transactions that affect different objects while transactions that affect shared state are ordered through Byzantine Fault Tolerant consensus and executed in parallel.
- Scalability and Immediate Settlement
Sui’s scalability characteristic is highly innovative and distinct from existing blockchains that have bottlenecks. Currently, most blockchains have limited capacity to handle a high volume of transactions, resulting in slow processing times and expensive fees. This can lead to a poor user experience, particularly in gaming and financial applications. Sui addresses these issues by scaling horizontally to meet the demands of applications. It does this by adding more processing power through additional validators, resulting in lower fees and faster processing times even during periods of high network traffic.
- Novel Storage Ability
Sui allows developers to store complex assets directly on the blockchain, which makes it easier to create and execute smart contracts. This results in low-cost and horizontally scalable storage that enables developers to define rich assets and implement application logic. With this capability, new applications and economies can be created based on utility without relying solely on artificial scarcity.
Sui’s native token, SUI, has a fixed supply and is used to pay for gas fees. Additionally, users can earn rewards by staking their SUI tokens with validators like Chorus One. To learn more about how you can stake SUI with Chorus One, visit: https://chorus.one/articles/how-to-stake-sui-sui-network
Sui Use Cases
Sui enables developers to define and build:
- On-chain DeFi and Traditional Finance (TradFi) primitives: enabling real-time, low latency on-chain trading
- Reward and loyalty programs: deploying mass airdrops that reach millions of people through low-cost transactions
- Complex games and business logic: implementing on-chain logic transparently, extending the functionality of assets, and delivering value beyond pure scarcity
- Asset tokenization services: making ownership of everything from property deeds to collectibles to medical and educational records perform seamlessly at scale
- Decentralized social media networks: empowering creator-owned media, posts, likes, and networks with privacy and interoperability in mind
Staking $SUI with Chorus One
SUI can be delegated to Chorus One delegation pool
Current Staking APR: 8.3%
For any other questions, reach out to email@example.com
Useful links, tools, and resources
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.