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What Is Sui?

Sui is a Layer-1 blockchain that is designed to limit how long it takes to execute smart contracts and support scalability for decentralized applications (dApps).

The blockchain uses an object-centric data model that stores digital assets and their attributes on-chain but outside of smart contracts. And parallel processing helps to finalize simple transactions, such as asset transfers, in real time while maintaining security.

Sui is named after the element water in Japanese philosophy, a reference to its fluidity and flexibility that developers can use to shape the development of Web3, according to the projects whitepaper.

The Sui blockchain shares common features with other networks, such as processing smart contracts, settlement of transactions, issuing tokens, and development of dApps. However, it introduces several new features that aim to solve the blockchain trilemma:

These include Suis consensus engine and the Move smart contract programming language developed by MystenLabs.

The Sui network uses a permissionless set of validators to reduce latency. Its delegated proof-of-stake (dPoS) approach allows validators to stake SUI coins to validate transactions. SUI is also used to execute custom programs, as a medium of exchange, and to provide incentivizes to developers.

However, Sui has had a low rate of transactions per second (tps) since the mainnets launch. While in testing, the network has reached 297,000tps, data from the Sui blockchain explorer shows that it has a peak of 1,367tps.

The $SUI token is the Sui blockchains native crypto. It has captured the attention of the markets since it launched its blockchain and native token in May 2023. The SUI token price soared by 2,000% on its first day of trading from its presale value.

$SUI has a total supply of 10 billion. A share of the total supply was released at launch, and the remaining tokens will be released over the coming years or distributed as future stake rewards, according to the projects documentation.

MystenLabs is allocating the tokens as follows:

There are three main sets of participants in the Sui economy:

Sui charges gas, or processing, fees on all network operations. It uses them to reward validators and prevent spam and denial-of-service (DOS) attacks.

Sui has a storage fund that it uses to shift staking rewards and compensate future validators for the cost of previously stored on-chain data.

The SUI coin has four main uses on the blockchain:

Sui grants rewards to holders that allocate their votes to other users. This incentivizes validators to act honestly, as delegators can switch their allocation each day.

While some crypto tokens initially launch on decentralized exchanges (DEXs) and gain centralized exchange listings as they grow in popularity, SUI was able to secure listings on major exchanges, including Binance, Bybit, Kucoin, and OKX from launch.

You can also buy the token on Coinbase, Bitfinex, Kraken, Bitstamp, Gate.io, and Huobi.

Sui Move is a variation of the Move smart programming language for building smart contracts that Facebook created for the Diem blockchain. Sui Move is written in the Rust code and defines the creation, transfer, and ownership of assets.

While most blockchains design smart contracts around accounts that send, receive, and hold the tokens that interact with smart contracts, Sui Move is based on programmable objects.

Developers can create rules for how the objects work, how they are transferred, and whether they can change. This makes programming assets for gaming and non-fungible tokens (NFTs) easier.

Objects in Sui Move can be modified by the owner such as in token transfers, voting, and sending messages on dApps or they can be modified by anyone, such as in interacting with public smart contracts.

Transactions for owned objects do not need to reach a consensus to be finalized, as there are specific algorithms that allow transactions to be executed in parallel. But shared objects do need consensus from validators for the transactions to be added to the blockchain.

Unlike blockchains such as Bitcoin and Ethereum where each transaction must be approved by all validators, which can cause bottlenecks Suis parallel transaction execution allows for more efficient transaction processing and increased throughput.

The SUI coin price history has been volatile since its launch. A presale and initial coin offering (ICO) in April offered SUI tokens at $0.03 and $0.10, respectively. In the tokens first trading session on May 3, the price soared to $2.16, a 2,000% return for the public sale investors.

The price then fell below $1 at the end of May on profit-taking. After the U.S. SEC announced its lawsuits on June 5, the decline in the SUI price accelerated, as the agency has taken the view that most cryptocurrencies other than BTC are trading as unlawful securities. SUI dropped to a low of $0.56 on June 10.

However, the price rebounded by as much as 27% in the following days, as Suis developers announced a new governance proposal to introduce liquid staking. With the team scheduled to release two mainnet upgrades in June, the future of the Sui project will depend on whether the enthusiasm around its technology can be sustained.

The value of the token is likely to remain volatile in line with the wider cryptocurrency markets, but it will also be influenced by the adoption of the SUI blockchain.

Sui was created by the company MystenLabs, which was founded by executives Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias. They led the development of the Facebook wallet program Novi and the Diem (previously Libra) blockchain-based stablecoin payment system.

The Sui Foundation is supporting the development of the ecosystem as an independent organization providing grants to developers and creators.

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What Is Sui ($SUI)? Definition, Sui Blockchain, How to Buy $SUI - Techopedia

Exploring the Impact of Smart Contract Technology on Decentralized Finance (DeFi) Growth and Innovation

The role of smart contract technology in decentralized finance (DeFi) has become increasingly significant in recent years, as the world of finance continues to evolve and embrace the potential of blockchain technology. As the traditional financial sector grapples with issues such as inefficiency, lack of transparency, and vulnerability to fraud, the emergence of DeFi offers a promising alternative that leverages the power of decentralized networks to enable a more secure, transparent, and efficient financial ecosystem.

At the core of this revolution lies the concept of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. Smart contracts are designed to facilitate, verify, and enforce the negotiation and performance of a contract, without the need for intermediaries such as banks or other financial institutions. This not only reduces the potential for human error and fraud but also significantly lowers transaction costs and increases the speed of financial transactions.

The impact of smart contract technology on DeFi growth and innovation has been nothing short of transformative. By automating processes and removing the need for intermediaries, smart contracts have enabled the creation of a wide range of decentralized financial applications and services that are accessible to anyone with an internet connection. This has led to an explosion of innovation in the DeFi space, with new platforms and protocols being developed at a rapid pace to cater to the diverse needs of users.

One of the most notable examples of the impact of smart contracts on DeFi is the rise of decentralized lending platforms. These platforms leverage smart contract technology to enable users to lend and borrow digital assets without the need for a centralized authority. By automating the lending process and removing intermediaries, decentralized lending platforms can offer more competitive interest rates and lower fees than traditional financial institutions. This has led to a surge in the popularity of DeFi lending platforms, with billions of dollars worth of digital assets currently locked in these platforms.

Another area where smart contract technology has had a significant impact on DeFi is the emergence of decentralized exchanges (DEXs). Unlike traditional centralized exchanges, which require users to deposit their assets with a third party, DEXs allow users to trade digital assets directly with one another through smart contracts. This not only reduces the risk of hacks and theft but also enables users to maintain control over their assets at all times. The growth of DEXs has been fueled by the increasing demand for decentralized trading solutions, as well as the development of innovative smart contract-based protocols that facilitate more efficient and secure trading.

Furthermore, smart contract technology has also played a crucial role in the development of innovative DeFi products such as tokenized assets, yield farming, and liquidity mining. These innovative financial instruments have opened up new investment opportunities for users, enabling them to earn passive income and diversify their portfolios in ways that were previously not possible.

In conclusion, the role of smart contract technology in decentralized finance has been instrumental in driving growth and innovation in the sector. By automating processes, reducing the need for intermediaries, and enabling the creation of a wide range of decentralized financial applications and services, smart contracts have fundamentally transformed the way we interact with financial systems. As the DeFi ecosystem continues to evolve and mature, it is likely that smart contract technology will play an even more significant role in shaping the future of finance, paving the way for a more inclusive, transparent, and efficient financial system.

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The Role of Smart Contract Technology in Decentralized Finance ... - CityLife

As the 21st century marches on, one of the industries benefiting the most from digital technology is city building. Smart cities use the latest information and communication technologies for citizens to share information, improve operational efficiency and provide better quality government services than ever before.

These cities use computer and internet technology to promote economic growth and vastly improve the quality of life for citizens. One of the technologies used extensively in smart cities is blockchain technology.

Blockchain is a decentralized digital ledger that stores ownership records for digital assets. Data stored in a blockchain cannot be changed or modifiedmaking it one of the most secure methods of protecting digital records.

For a smart city, this is crucial, as younger populations are flocking to urban areas for promised job opportunities and progressive technological adoption. These upticks need reliable tracking technology like the blockchainespecially if urban designers want data to drive determinations about city development.

What makes blockchains so secure is their decentralized nature. Each block in the chain stores data on a separate server, making blockchains groups of servers holding different data. This is in contrast to traditional record-keeping systems, which keep all data on a single server. Its possible to save money, have a better environmental impact, and support modern lifestyles with secure and reliable smart city tech.

One of the primary ways urban designers incorporate blockchain is in bolstered cybersecurity for critical infrastructure. For example, blockchains' protection levels have made them the standard for cybersecurity in financial institutions. Cyber attackers who try to infiltrate blockchains must be able to attack multiple servers at once, which will take a lot of resources since each server has numerous encryptions to protect it. The chances of hackers being successful against a blockchain are very low.

However, the applications of blockchain technology go far beyond protecting data transactions. Any process that requires digital record-keeping can benefit from blockchain tech. Documents like identity records, taxes and permits are all safer with blockchain in a smart city. Its a useful tool for urban planners for building agreements and confidential blueprintsespecially when working with city administrations that need to assure trust and end-to-end encryption for safety.

Its powerful when working alongside other technologies like Internet of Things-connected devices. It can measure energy consumption to provide next steps for thoughtful grid modernization leading to low-cost, clean power distribution. It can also empower public transportation to adopt smart mobility that protects payments, tracks routes and notifies operators of maintenance needs.

The education sector in particular is poised to benefit significantly from blockchain tech. Educational institutions handle the personal data of hundreds of students and faculty members. A blockchain data network can make storing and transferring that information safer and more efficient. Local artisans and creatives could leverage it for expanding their services to Web3 assets like NFTs, especially for official city use to avoid corruptive practices and protect their intellectual property.

One can apply the advantages of blockchains to governmental functions such as health care, education and legal institutions. However, the tech still has drawbacks that could concern urban designers and citizens, such as excessive data collection, overreliance on potentially inaccurate data, and upfront cost for blockchain implementation with no quantitative return on investment. The only way to popularize blockchain in smart cities is for urban planners to install it in a way that challenges these negatives and overcomes them.

Blockchains can create a digital supply chain record that provides transparency. The concerned parties can access and track items in real-time, and fear dissolves if cities use smart contracts. Smart contracts are blockchain staples that oversee agreements and execute programs when parties meet the conditions. Every facet of the city can use these to protect budgets and service quality, such as grant donors, waste disposal vehicles and ambulances.

Blockchain technology can easily combine with other digital technologies, such as artificial intelligence, wearables and mobile devices. Accentuating its versatility with these modern luxuries will increase blockchain popularity, too. It can ensure connectivity between all the devices in a network stays encrypted and stores records of their use and what transpired during an event. Spreading education about blockchain to citizens will reveal how these tools prevent fraud and provide stakeholder relief instead of jeopardizing them.

Blockchain technology has much to offer smart cities. The possibilities are numerous, from exceptional cybersecurity to streamlined supply and information chains. As the years go on and technology advances, smart cities will find new ways to serve their citizens.

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Leveraging Blockchain Tech to Build Smart Cities - Planetizen

Convex Finance has recently announced its partnership with major blockchain projects, which is set to revolutionize the DeFi (Decentralized Finance) industry. This strategic partnership will not only enhance the functionality of the Convex Finance platform, but it will also provide users with access to a wider range of decentralized applications (dApps) and smart contracts. The best location to buy that cryptocurrency is on a secure exchange like https://quantumprimeprofit.org/, where your digital assets arent at risk of being stolen. In this article, we will discuss the various blockchain projects that Convex Finance has partnered with, and the benefits that these partnerships bring to the platform.

Before we dive into the partnerships, lets briefly discuss the Convex Finance platform. Convex Finance is a DeFi platform built on the Ethereum blockchain. The platform enables users to stake their assets and earn rewards in the form of additional assets. The rewards are paid out in convex CRV tokens, which are the platforms native tokens. Users can also trade assets on the platform using the Convex Swap feature, which is a decentralized exchange (DEX).

Convex Finance has recently announced its partnerships with major blockchain projects such as Polygon (formerly Matic Network), Avalanche, and Fantom. These partnerships will allow Convex Finance to expand its ecosystem and offer its users access to a wider range of DeFi applications and services.

Polygon is a Layer 2 scaling solution for Ethereum, which enables faster and cheaper transactions on the Ethereum network. The partnership between Convex Finance and Polygon will enable Convex Finance to provide its users with access to Polygons ecosystem of dApps and smart contracts. Polygons ecosystem includes a range of decentralized finance (DeFi) applications such as lending protocols, DEXs, and yield farming platforms. This partnership will allow Convex Finance users to access these applications directly from the Convex Finance platform.

Avalanche is a high-performance blockchain that supports smart contracts and enables the creation of decentralized applications. The partnership between Convex Finance and Avalanche will enable users to access Avalanches DeFi ecosystem. Avalanches ecosystem includes a range of DeFi applications such as lending platforms, stablecoins, and DEXs. This partnership will allow Convex Finance users to access these applications directly from the Convex Finance platform.

Fantom is a fast, scalable, and secure blockchain platform that enables the creation of decentralized applications. The partnership between Convex Finance and Fantom will enable Convex Finance to offer its users access to Fantoms ecosystem of dApps and smart contracts. Fantoms ecosystem includes a range of DeFi applications such as lending protocols, DEXs, and yield farming platforms. This partnership will allow Convex Finance users to access these applications directly from the Convex Finance platform.

The partnerships between Convex Finance and these major blockchain projects bring a range of benefits to the platform and its users. Firstly, these partnerships will enable Convex Finance to expand its ecosystem and offer its users access to a wider range of DeFi applications and services. This will increase the functionality of the platform and provide users with more options for staking, trading, and earning rewards.

Secondly, these partnerships will enable Convex Finance to leverage the capabilities of these major blockchain projects. For example, Polygons Layer 2 scaling solution will enable Convex Finance to offer faster and cheaper transactions to its users. Similarly, Avalanches high-performance blockchain will enable Convex Finance to offer its users faster transaction speeds and lower transaction fees.

The partnerships between Convex Finance and major blockchain projects such as Polygon, Avalanche, and Fantom are set to revolutionize the DeFi industry. These partnerships will not only enhance the functionality of the Convex Finance platform but also provide users with access to a wider range of decentralized applications and smart contracts.

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Convex Finance's Partnership with Major Blockchain Projects - GLYFE Nation

Cryptocurrency has rapidly gained momentum as a promising asset class. Its an exciting time to speculate on which coins could provide the best return on investment over the next three years. This article will examine two sets of cryptocurrencies: $BTC, $LTC, $ETH, $XRP, $ADA, and $DOGE, $PEPE, $SHIB. We will delve into their prospects based on their historical performances, technological infrastructure, and market potential. Lets take a look at this Cryptocurrency trends article in more detail.

As the first cryptocurrency and the current market leader, Bitcoin ($BTC) has consistently shown strong performance. Its reputation and widespread acceptance make it a safe bet for investment. Despite periodic fluctuations, Bitcoins long-term trend is generally upward. With increasing institutional acceptance and the upcoming advent of Bitcoin ETFs, Bitcoin might continue to increase in value over the next three years.

Litecoin ($LTC) is often considered the silver to Bitcoins gold. It offers faster transaction times and a different hashing algorithm. While it hasnt seen the same dramatic growth as Bitcoin, it has a solid foundation and a loyal community. Its recent developments, such as the MWEB upgrade for better privacy and fungibility, indicate that Litecoin may continue to grow steadily.

Ethereum ($ETH) is more than a cryptocurrencyits a platform for smart contracts, which has great potential in fields from finance to gaming. With the ETH 2.0 upgrade, Ethereums scalability issues are expected to be resolved, potentially leading to significant price appreciation.

Ripple ($XRP) is a digital payment protocol that enables fast, low-cost international money transfers. Despite facing legal issues with the U.S. Securities and Exchange Commission (SEC), XRP has maintained a solid market position. If Ripple wins the lawsuit, this could significantly impact the XRP price positively.

Cardano ($ADA) is a blockchain platform for smart contracts, like Ethereum. Its unique multi-layer architecture and peer-reviewed development approach make it a strong contender for future growth. ADA could provide high returns, especially with the successful rollout of its smart contract functionality.

Initially started as a joke, Dogecoin ($DOGE) has gained considerable traction, largely driven by social media hype and celebrity endorsements. While its price volatility makes it a risky investment, if the momentum continues, it could offer significant returns.

Pepe ($PEPE) is an XCP asset that fuels the Rare Pepe economy. Its value primarily comes from the rarity of the digital art it represents. While this niche market has seen some success, its future profitability will depend largely on the continued interest and growth of digital art collectors.

Shiba Inu ($SHIB), another meme coin like DOGE, has seen explosive growth. Its success is mainly due to its strong community and aggressive marketing. However, such investments can be quite risky due to their reliance on continued social media hype.

Investing in cryptocurrency carries significant risk and potential reward. Among the more established coins, Ethereum ($ETH) and Cardano ($ADA) seem to have the most significant potential due to their smart contract capabilities and upcoming upgrades. Among the newer, more volatile coins, Dogecoin ($DOGE) and Shiba Inu ($SHIB) could provide high returns, but they carry more risk.

However, the golden rule of investing still applies: diversify your portfolio, never invest more than you can afford to lose, and always do your research before making an investment. Cryptocurrency trends can be useful only after careful consideration of everything.

Despite the turbulence in the cryptocurrency market, Terra Luna Classic (LUNC) has shown commendable resilience. Will LUNC price go up?

Ethereum price prediction: Ethereum whales are "buying the dip," an aggressive bullish stance despite the recent downturn in the market.

Ripple XRP a key player in the cryptocurrency scene, is a prime example of this crypto market rebound. Will XRP

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Predicting Cryptocurrency Trends: Which Bag Will Make You the ... - CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto News