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Introducing Sui 💧
The Sui team first made headlines in 2021 when several Meta engineers peeled away to create a blockchain startup called Mysten Labs. Possessing a deep and nuanced understanding of cryptography, Mysten Labs thought they could build a better blockchain.
Shortly thereafter Sui launched at the beginning of 2022. Since then Sui's object-centric data model has matured, hundreds of brands have risen to significance building on the blockchain and the $SUI token value has gained 800% in the past year.
Let's take a look at what makes them different, how they are shaping crypto onboarding and why developers love to build on Sui.
How does the Sui blockchain work?
Sui is a L1 (Layer 1) blockchain whose object-centric data model represents data as objects that are uniquely identified, owned and interacted with. With their unique approach to parallel execution, Sui has built a fast and secure protocol.
Object-Centric Data Model
Objects are Sui's first unique feature. They are a basic unit of storage which act as both smart contracts, called a Sui Move package, and assets that can be manipulated with on the network.
Objects are assigned a unique identifier (UID) which allows it to be distinctly referenced and interacted with. They maintain state and changes occur through transactions which interact with objects to create, modify or transfer them.
In contrast to many other blockchains where storage is centered around accounts containing key-value stores, Sui's storage is centered around objects addressable on-chain by unique IDs.
Sui Docs
Objects are associated with a specific owner.
- Single-Owner Objects are owned by a single address. Transactions involving these objects do not require global consensus and can be executed immediately, improving efficiency (more on that below).
- Shared Objects are shared among multiple participants. These objects require coordination and consensus for state updates, as they can be accessed by multiple addresses simultaneously.
Objects mutability is defined in the smart contract and they can be either mutable or immutable depending on the need.
Parallel Execution
Like many high throughput chains, Sui utilizes parallel execution to eliminate consensus bottlenecks. It allows the blockchain to achieve high throughput and low latency without compromising on security.
Their version is a little different than you may be accustomed to. Transactions can be viewed as operations on objects. If two transactions interact with different single-owner objects, they can be executed at the same time.
Only transactions involving shared objects which can be modified by multiple parties require consensus for settlement.
Byzantine Fault Tolerant (BFT) Consensus
Shared object transactions are managed by a concept called Byzantine Fault Tolerant (BFT) Consensus.
BFT consensus is a complex mechanism that allows blockchains to agree on a single state even when some validators on the network behave maliciously, fail or provide false data.
For transactions requiring global sequencing, Sui employs a robust BFT mechanism to finalize transactions efficiently. Transactions that involve single owner objects bypass global consensus, achieving near instant confirmation.
Collectively, these features allow the network to scale rapidly as more validators are added. Theoretically Sui has no upper limit on it's throughput.
What makes Sui (and Move) popular for new builders?
Sui has gained the worlds attention for numerous reasons including transaction efficiency, developer friendly smart contracts (objects) and a dApp user experience that caters to non-crypto natives.
Their parallel execution architecture makes Sui one of the fastest and least expensive blockchains to sign transactions on, this is an attractive feature for builders that generate large amounts of assets onchain.
Sui is built with Move, a programming language that was originally developed for Meta.
Smart contract development is simplified with Move and engineers can adopt the language quickly. This ease of building translates into product and allows more resources to be allocated for UX.
Move allows developers to write programs that flexibly manage and transfer assets, while providing the security and protections against attacks on those assets. However, Move has been developed with use cases in mind outside a blockchain context as well.
Move takes its cue from Rust by using resource types with move (hence the name) semantics as an explicit representation of digital assets, such as currency.
The Move Book
In addition to providing less friction for developers, users of Sui dApps are oftentimes unaware that they are interacting with the blockchain with the use of zkLogin.
What are Zero Knowledge proofs (ZKPs) and how is Sui's zkLogin improving onboarding?
Sui places a special emphasis on making zero knowledge proofs (ZKPs), specifically zkLogin, easy for developers to implement. They view it as a major component in improving the onboarding experience.
zkLogin allows users to connect to dApps using web2 email addresses. This has already made an immediate impact on the gaming side of the ecosystem with more use cases being explored in DeFi.
In addition to making crypto interactions easier, ZKPs enhance privacy by creating onchain addresses that don't reveal sensitive data about the creator (like their email address or Apple ID).
Mysten Labs uses Groth16 circuits to keep mnemonic and zkLogin authentication policies private. Groth16 is a proof system which allows a prover to validate if a statement is true without revealing any inputs.
The proof system has been public for nearly ten years allowing for extensive testing and improvements.
Zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKs) are a family of zero-knowledge proofs that are non-interactive, have succinct proof size and efficient verification time.
An important and widely used variant of them is pairing-based zk-SNARKs like the Groth16 proof system, which is one of the most efficient and widely used.
Sui Cryptography Docs
It's not all onboarding, however. ZKP solutions are used for a wide variety of cryptographic purposes like improving blockchain query speeds, providing additional safety to user funds while maintaining self custody and true anonymous P2P transactions.
zkLogin is another pillar for Sui's network security.
Sui and parent organization Mysten Labs was famously founded by a handful of talented ex-Meta engineers. After a year of building they, like many others, were caught up in the turmoil of FTX's implosion.
Although many startups floundered during this time, the Mysten Labs put their heads down and kept working.
In addition to a stacked internal team, Mysten Labs and Sui have backing from some of the most noteworthy investors in all of web3 like a16z, Lightspeed, Jump Crypto and Franklin Templeton.
Who founded Sui?
Sui and parent organization Mysten Labs was famously founded by a handful of talented ex-Meta engineers. After a year of building they, like many others, were caught up in the turmoil of FTX's implosion.
Although many startups floundered during this time, the Mysten Labs put their heads down and kept working.
- Evan Change, CEO
- Adeniyi Abiodun, CPO
- Sam Blackshear, CTO
- George Danezis, Chief Scientist
- Kostas Chalkias, Chief Cryptographer
In addition to a stacked internal team, Mysten Labs and Sui have backing from some of the most noteworthy investors in all of web3 like a16z, Lightspeed, Jump Crypto and Franklin Templeton.
Who are the biggest Sui DeFi builders?
This entire issue of Mad News could be dedicated to the builders on Sui and we would barely scratch the surface of the thriving ecosystem.
From Defi and gaming to memecoins and NFTs, here are some of the builders making Sui great. DeFi is a linchpin of Sui and has contributed significantly to it's growth over the last two years.
- Bluefin is a derivatives trading app with user friendly experience focus
- Navi built Navi Aggregator, a Sui DEX aggregator (including several listed here)
- Kriya DEX offers perpetual futures
- Turbo acts as an all-in-one trading platform
- AftermathFi is a DEX also focused on MEV infrastructure
- Suilend provides infinite liquid staking and superfluid AMMs
- Walrus Protocol is the next generation of data storage
- SUI Agents builds AI powered trading agents
- 7k_ag has evolved from $1B DEX aggregator to DeFi toolmaker
- Lumi Wave brings "Path by light, Surf by wave" to DeFi
Who are the biggest Sui blockchain games?
Sui gaming already boasts several S-tier titles and has been a consistent onboarding mechanism for the network. Similar to Solana, Sui's speed enables gamers to have near instantaneous onchain responses.
zkLogin is an important component to this by allowing users to login using email addresses without requiring a crypto wallet. Their sponsored transactions mean that players don't have to pay gas fees and therefore have no direct interactions with the blockchain.
Sui Pay is the first handheld gaming console with a focus on trad PC and Sui games, more than 2000 pre-orders have landed already.
Powered by Playtron OS, the device is aimed at allowing gamers to play titles from all major stores like Steam, Epic and GOG.
Playtron OS is a Linux-based operating system designed to create a platform-agnostic ecosystem that breaks down the current fragmentation in gaming platforms.
Built on Fedora Silverblue, the operating system features an immutable file system that provides unprecedented security and anti-cheat capabilities.
Game developers can verify digital signatures of builds and system DLLs, ensuring a tamper-proof gaming environment.
Adeniyi Abiodun, Mysten Labs cofounder
The gaming ecosystem is teeming with eager builders, a decidedly non-exhaustive list includes:
- Bob The Blob is a mobile puzzle game that comes along with it's own token
- Ambrus Studio stands as giant among giants in the MOBA field with E4C: Final Salvation
- DARKTIMES is a brawler royale title that explores Nordic medieval lore
- Panzerdogs is a tank inspired PVP brawler
- Xociety is a metaverse shooter a la Fortnite
- Abyss World, an AI powered fantasy universe.
What are the memecoins of Sui?
Sui memecoins have taken everything good from communities on Solana, Ethereum, Base and Ordinals and supercharged the experience.
Carefully crafted mascots and narratives that embrace both generational wealth and the altruistic ethos of crypto have formed passionate evangelists.
- Suigma represents silence at the bottom of the ocean
- HsuiOnSui, a.k.a. the legendary beast
- Tardi is Sui's "toughest token (scientifically proven)"
- Hiddocto is just a mud bound doggo
- Blub are dirty fish swimming around the Sui Ocean
- Lofi The Yeti is like Sasquatch on ice with a mission
As $SUI soars in price and memecoin season commences, early adopters are being rewarded for their conviction.
- Suinami because every chain needs a Shiba Inu token
- aaaCat just like every chain needs a cat coin
- Axol is the cutest amphibian on the blockchain
- Plop acts as an embodiment of the waterchain
- Hippo_cto, fancy hippos - 'nuff said
Which NFT projects form the Sui community sublayer?
Similar to memecoins, Sui NFT projects have had the benefit of watching several years worth of community building efforts on other chains. This experience has led to a vibrant community sublayer that supports the ecosystem.
- Blob Life, community arm of the Walrus Protocol
- Kumo has embraced the plushie era
- Gommies the OG community on Sui
- Rrootlets is the companion collection to Suilend
Sui creators have adopted dNFTs (dynamic NFTs) which lets assets change and evolve over time.
- Prime Machin are a gang of robots taking over the network
- Sweebs a.k.a. the culture layer of Sui
- Fuddies specializes in FUD around and find out
- Sui Frens are the only capybaras on Sui
This is especially cool for NFTs in gaming because it means that your characters can level up and it is reflected onchain.
Conclusion
Sui isn’t just a blockchain, it’s a world where innovation flows as naturally as water.
With it's unique tech stack Sui is setting new standards for scalability, accessibility, and onboarding. And now, with Sui coming to Backpack, even more users and developers will be joining the fray.
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