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What is Sui?
Sui is a Layer 1 blockchain that lets developers build apps and run smart contracts, while the SUI token is used for fees, staking, and governance.
Category | Smart contract platform, Layer 1 (L1) |
|---|---|
Launch year | 2023 |
Consensus mechanism | Delegated proof of stake |
Max supply | 10,000,000,000 |
Circulating supply | 3,953,388,932.0712214 |
Main use case | Smart contract fees, staking, and governance on the Sui network |
Platform | Sui (SUI) |
Token ticker | SUI |
Figures and labels can change over time. For important decisions, always verify the latest information on the project and trusted market data sources.
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What is Sui (SUI)?
Sui is a layer-1 blockchain designed for high speed, low fees, and scalability. The blockchain focuses primarily on the development of next-gen Web3 apps and games. Sui is written in Move, a secure programming language originally developed by Meta for Diem (the former Facebook crypto project). How does Sui work? Sui has a unique approach to data storage and transaction processing. Unlike many other blockchains, Sui processes so-called independent transactions—such as two users sending NFTs independently of each other—in parallel rather than sequentially. This method, called parallel execution, makes the network much more efficient and drastically reduces transaction latency. Sui also uses an innovative transaction model in which simple operations, like transferring a token, do not require a traditional consensus mechanism. This enables extremely low latency and very high throughput, making the network highly suitable for user-intensive applications such as gaming or social dApps. Under the hood, Sui runs on a customised version of the Move programming language, called Sui Move. This language uses an object-based model, where each digital item is treated as a standalone object. This allows developers to manage assets in smart contracts with greater safety and precision—avoiding risks like double spending or race conditions. Sui also introduces a noteworthy feature called ZkLogin: a technology that allows users to log in with existing Web2 accounts such as Google or Apple ID, significantly lowering the barrier to entry. In short: Sui prioritises efficiency and scalability over traditional blockchain standards. The network is particularly well-suited for interactive applications such as games, NFT platforms, DeFi, and social apps—offering speed and user-friendliness as key advantages.
Who founded Sui?
Sui was developed by Mysten Labs, a blockchain company founded by former Meta (Facebook) engineers. The founders previously worked on the Diem blockchain and the Move language. Key figures include: Evan Cheng (CEO of Mysten Labs), Sam Blackshear (Creator of the Move language), George Danezis and Adeniyi Abiodun (former Meta tech leads). On 3 May 2023, the Sui Mainnet officially launched, supported by more than 100 validators and over 400 nodes.
What makes Sui unique?
Sui stands out in several ways: Parallel transaction execution: reduced wait times, higher throughput. Object-based architecture: everything on-chain is treated as an “object”, offering more flexibility. Move language: according to developers, safer and better suited for smart contracts than Solidity. On-chain assets with native upgrade capabilities: useful for gaming & NFT platforms. ZkLogin: users can enter Web3 using a simple Google login, without seed phrase hassle.
What is ZkLogin?
ZkLogin is a unique feature of Sui that allows users to log in with existing Web2 accounts (such as Google or Apple ID) without having to manage a wallet themselves. Here‘s how it works: users authenticate via Google or Apple. Sui then uses zero-knowledge proofs to link this identity to a wallet address. The result is a simple onboarding experience without compromising privacy. This significantly lowers the barrier to entry. ZkLogin is essential for mainstream adoption—it makes Web3 accessible to non-tech users and is unique among layer-1 chains.
Sui vs. other cryptocurrencies
Sui focuses on high throughput, scalability, and ease of use. This puts it in a similar category to other smart contract platforms like Ethereum, Solana, and Aptos. However, Sui has introduced more innovation compared to Ethereum, particularly with the ZkLogin feature. Like Sui, Aptos also uses the Move programming language but with a different design philosophy. The table below outlines the key differences between these blockchains. Feature | Sui | Ethereum | Solana | Aptos Language | Move | Solidity | Rust | Move Execution | Parallel (when non-interactive) | Sequential | Parallel | Parallel Target Audience | Games, dApps | General-purpose | Games, DeFi | dApps, NFTs Launch | 2023 | 2015 | 2020 | 2022
Is Sui suitable for NFTs?
Yes. Sui is ideal for NFT platforms thanks to its fast processing, low fees, and flexible object-based architecture. Many NFTs on Sui can be dynamically adjusted or respond to interactions.
Is Sui open-source?
Yes, both the Sui codebase and the Move programming language are open-source. Developers are free to build on the network.
What is the role of the SUI token?
The native SUI token is used for: Transaction fees Staking & validator rewards Governance (in the future)
How do I buy SUI?
Want to buy Sui? SUI is available on multiple exchanges, including Coinmerce. Make sure you have a wallet that supports Sui (such as the Sui Wallet), or store the token safely in your Coinmerce account. Coinmerce allows you to buy SUI easily and quickly with iDeal.
What are the risks of Sui?
As with any new blockchain, there are risks involved: Low adoption or slow growth Competition from similar projects (like Aptos, Solana) Potential bugs in Move-based smart contracts
What is the outlook for Sui?
Sui is regarded as a promising infrastructure for Web3 applications, with a strong focus on speed and user experience. If ZkLogin and its NFT services gain traction, Sui could become a serious competitor to existing L1s.
Staking on Sui in plain terms
Staking is how proof of stake networks secure the blockchain. On Sui, validators participate in delegated proof of stake, and delegators can also lock tokens to support validators. In practice, staking is about choosing participation in network security. You lock SUI, and the network uses that participation as part of how it confirms transactions. Rewards are typically linked to that participation, but they are not a guarantee of profit. Your overall outcome still depends on the SUI price in EUR, because rewards do not prevent price drops. If you are considering staking, focus on the operational side, like how delegation works and what risks exist if validators behave poorly.
Governance: voting on network rules
Governance means token holders can vote on network rules and future protocol upgrades. On Sui, the SUI token is described as being used for this governance role. To understand governance, think of it as a structured way to decide how the network changes over time. Instead of every change being decided by a single party, the network can use voting to coordinate decisions. Governance does not remove risk. If votes lead to changes that do not work as expected, the ecosystem can be affected. When you read about governance proposals, look for the concrete change being proposed and how it could impact developers and users.
Fees, finality, and why performance matters
On blockchains, fees are the cost to get your transaction included and processed. On Sui, transaction fees are paid in SUI. Sui is described as aiming for rapid transaction finalization, which can make apps feel more responsive. For users, that often shows up as quicker confirmations after you press a button in a decentralized app. The network also collects fees into a storage fund intended to reward validators for keeping data on the network indefinitely. This connects fees to long term maintenance, not only short term processing. Even if the network is fast, individual apps can still be slow or unreliable due to their own code and dependencies. So performance is a chain level goal, not a guarantee for every app.
Sui and the Move language
Sui supports smart contracts written in Sui Move, which is a variant of the Move programming language. Smart contracts are programs that run on chain and can manage assets, rules, and app logic. A useful way to think about this is that the language and execution environment shape how developers write code and how the network checks it. That can affect how safe and predictable apps are. Sui’s object centric design also influences how contracts handle data. Developers can create tailored object types that work across the network, which supports composability, meaning apps can interact in structured ways. If you are evaluating Sui as an investor, it helps to understand that smart contract quality is separate from token price. The ecosystem’s ability to attract good developers is often a key part of long term value.
Future of Sui: what to watch
The future of Sui depends on how well the platform supports real applications and how the ecosystem grows. Because blockchain technology evolves, governance and protocol upgrades can change how the network behaves. A practical way to monitor progress is to watch for developer adoption, the number and quality of apps built on Sui, and whether users keep using those apps. You can also look at whether staking participation stays active and whether fees and performance remain workable during higher demand. Regulation is another factor. Changes in how crypto assets are treated can affect access and usage. Instead of expecting a single outcome, consider multiple scenarios. Some scenarios involve stronger ecosystem growth, while others involve slower adoption or increased competition.
Understand Sui step by step
What is Sui?
If you want to learn about Sui, read all about it in the What is overview.
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