Sui (SUI): what you need to knowSui (SUI): what you need to know

Sui is a Layer 1 blockchain specifically designed for high throughput and low latency. The network was built by former Meta engineers and uses the Move programming language, originally developed for the Diem project. The native token SUI is used for staking, transaction fees, governance and as a 'storage fee' for on-chain data.

Whitepaper: https://www.lcx.com/sui-mica-white-paper/

Sui uses a Delegated Proof of Stake consensus and can process many transactions in parallel. Simple transactions (such as a direct transfer) can be settled without full consensus across all validators, so they reach finality in a fraction of a second. More complex transactions go through a more elaborate consensus mechanism.

• Ticker: SUI

• Category: Layer 1 / Smart contract platform

• Blockchain: Sui

• Protocol: Delegated Proof of Stake + Move VM

• Year of launch: 2023

Sui is built around an object-oriented data model: instead of accounts with balances, applications work with objects that can be owned by a user, another object or a smart contract. This enables advanced use cases such as dynamic NFTs, gaming assets and parallel execution. The Move VM provides type-safe smart contracts.

The Sui ecosystem includes DeFi protocols, gaming projects, NFT platforms and consumer applications that benefit from the high transaction speed and low fees. Sui Foundation supports developers through grants and programmes, and the network is connected to other chains via bridges and interoperability solutions. Many projects focus on user experience for a broad audience.

Sui was developed by Mysten Labs, founded in 2021 by former Meta engineers who previously worked on the Diem project (originally Libra). CEO Evan Cheng leads the team that develops the Sui blockchain and the Move VM. The project raised funding from prominent investors such as Andreessen Horowitz and FTX Ventures.

BTC Direct has been the European entry point to crypto since 2013. We make buying Sui straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, Sofort, SEPA bank transfer, credit card, PayPal or Apple Pay. Your SUI is on its way within minutes.

• Your coins, your control. We do not store your SUI. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum varies per coin.

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For more technical information about Sui, visit the official website.

Cryptocurrencies, including Sui (SUI), are volatile and carry risks. The value of SUI can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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