Sui (SUI) Fundamental Analysis 📈
Sui (SUI) is a Layer 1 blockchain and smart contract platform designed to revolutionize digital asset ownership by ensuring speed, security, and accessibility 🌐. Utilizing the Move programming language, originally created by Facebook’s Libra project, it focuses on parallel execution and is built for maximum efficiency.
Key Innovations 🌟:
Programming Language: Sui uses MOVE for creating apps, aimed at parallel execution.
Consensus Method: The blockchain employs the Narwhal-Tusk consensus, resolving issues prevalent in traditional blockchain models, and offers significant scalability.
Team & Background 👥:
Led by five prominent co-founders: Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias, all of whom had significant roles in Facebook’s (now Meta) blockchain R&D.
The team previously worked on the Diem (Novi) network.
Sui is backed by Mysten Labs, stemming from Meta’s Diem project. They successfully raised $300 million in a Series B funding round, reaching a $2 billion valuation.
Tokenomics 🪙:
Circulating Supply: 528,273,718
Max Supply: 10 billion
Token Allocation: Investors (14%), Community Reserve (50%), Early Contributors (20%), Community Access Program and App Testers (6%), and Treasury (10%).
Ambition 🚀:
Sui aims to be the leading platform for NFTs and gaming in the crypto world, capitalizing on the intuitiveness of the Move programming language.
Competition 🥊:
Sui shares similarities with Aptos, but differs in its approach to programming and architecture.
Challenges ⚠:
Adoption: Gaining traction among developers and users is still a challenge.
TPS: Despite promises of high throughput, Sui’s TPS was only three as of May 17th, 2023, trailing behind its competitors.
Conclusion 🎯: Sui, with its strong team and significant financial backing, has the potential to be a major player in the crypto realm. With its value at $2 billion and robust features, it’s poised to climb the cryptocurrency ladder, possibly reaching the top 50 or even top 10 soon, unless unforeseen hurdles appear. 🌟🚀
To dive deeper, check out the complete article: https://droomdroom.com/fundamental-analysis-of-sui/
