Bittime - Sui managed to gain huge momentum.More than 1,000 participants from 65 countries, including projects, partners, investors and crypto enthusiasts, gathered in Paris to celebrate Sui at its inaugural global conference, Sui Basecamp.
This event marked a major celebration for Sui, the new Layer 1 blockchain, held during Paris Blockchain Week. For two days, developers from around the world gathered to discuss various aspects of Web3.
They cover important aspects for Web3. From payments to gaming, e-commerce and even professional sports.
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Important Announcement at Sui Basecamp
Speakers at Sui Basecamp delivered presentations and panel discussions on the future of Web3. This event was also enlivened by three important announcements.
First, alongside Playtron, the Sui team announced the SuiPlay0x1, the world's first lightweight handheld gaming device designed specifically for Web3. It promises a completely new gaming experience.
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Second, First Digital Labs announced FDUSD, the fastest growing stablecoin in the crypto world, will be the first dollar stablecoin on the Sui blockchain.
This is good news for Sui's DeFi ecosystem , which is currently the fastest growing in the blockchain industry.
Third, Sui announced Enoki, a Web3 toolset that will make it easier for companies to leverage decentralized blockchain technology in their applications, products, and services.
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"In building Sui, we started with a blank slate. Our goal was to create a leading platform for decentralized applications without the structural limitations we saw in other blockchains," said Evan Cheng, Co-founder and CEO of Mysten Labs, founder of Sui Network.
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Evan Cheng also said that less than a year after Sui's mainnet launch, Sui's outstanding performance has proven their approach.
“Nearly limitless horizontal scalability, industry-leading execution speed, and the highest number of transactions per day compared to any other blockchain – Sui's performance is incredible and its potential remains enormous,” Cheng continued.
Sui's founders, who are veterans in the blockchain industry, launched the mainnet almost a year ago with high expectations. This network has shown excellent performance.
Rather than copying an existing blockchain, Sui's team built a new infrastructure from scratch to address the shortcomings of existing blockchains. They started by creating Move, an innovative smart contract language, and on top of it they built a new object-centric architecture.
This architecture enables performance and functionality not available on other blockchains. The result is an industry-unique blockchain - a universal coordination layer for smart assets.
Sui is an industry leader with lightning-fast transactions, with a finalization time of just 400 milliseconds. Sui's scalability is also leading, reaching 297,000 TPS in a controlled environment. However, Sui's team continues to improve the technology.
At the conference, Sui's team revealed their latest advances in speed and scalability. They introduced Mysticeti, which significantly speeds up Sui finalization times, and Pilotfish, which enables nearly unlimited horizontal scaling by validators.
In addition to its performance in a test environment, at only four months old, Sui broke the record for transactions executed in a day. Sui achieves higher numbers than any other blockchain currently available.
Meanwhile, costs remain low and stable. Amazingly, in almost a year of mainnet running, Sui has never experienced a single second of downtime (network disruption).
The Sui Community is Growing Rapidly
The Sui community is growing rapidly. Following a series of community events around the world, media coverage highlighted Sui's incredible early achievements, continued ecosystem growth, and the large number of developers choosing Sui over other blockchains.
Industry players, developers, investors and the broader community are also starting to understand the potential of Sui's innovative blockchain technology. The crowds present at Sui Basecamp 2024 represented the peak of Sui's arrival.
"The high level of enthusiasm at the inaugural Sui Basecamp event reflects a Sui community that is fascinated by Sui's potential to make people's lives better," said Greg Siourounis, Managing Director of the Sui Foundation.
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Greg also said that in the coming months, the Sui Foundation will continue to focus on expanding the ecosystem of projects utilizing Sui and the number of users benefiting from the application.
“We are working to make Sui one of the most widely adopted blockchains for solving real-world challenges. "With cutting-edge technology and Web3's most dedicated and professional community, Sui's progress so far is just a glimpse of what this network will achieve," he continued.
How to Buy Sui (SUI) on Bittime
You can buy and sell Sui (SUI) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Sui (SUI) is available on Bittime with the market pair SUI/IDR. To be able to buy SUI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Sui (SUI) on Bittime.
Monitor price movements of Sui (SUI), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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