Sui (SUI) Token

Data and Information

Sui is a layer-1 blockchain with low latency and high throughput. Its instant transaction finality makes Sui a prime candidate for on-chain use cases such as DeFi and GameFi. This blockchain is programmed in Rust, a programming language with a focus on fast and secure transaction execution. Rust is also the programming language of Solana, another high-speed blockchain.

Sui’s stated goal is to “serve the next billion users on web3” by offering decentralized application (Dapp) deployments with superior smart contract architecture compared to rival blockchains like Ethereum. This blockchain uses a process called “transaction parallelization” to achieve this, which allows processing transactions in “parallel agreements.” This “horizontal scalability,” as Sui calls it, leads to better data organization in a byzantine fault-tolerant proof-of-stake (PoS) consensus mechanism.

Circulating Supply: 1.23B SUI

Maximum Supply: 10B SUI

Total Supply: 10B SUI

Founder of Sui (SUI) Token

Sui was founded by a team of former Meta engineers: Evan Cheng; Adeniyi Abiodun; Sam Blackshear; George Danezis; Kostas Chalkias.

Before founding Mysten Labs, the company behind the Sui blockchain, the group of five worked in the Novi division. Mysten Labs has backing from high-profile crypto VC funds like a16z, which invested $36 million in its Series A fundraising in December 2021. Another $300 million Series B announcement followed, putting the company's valuation at $2 billion. Funds that have stakes in Mysten Labs include: Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O'Leary Ventures.

reference:

https://indodax.com/academy/sui-sui-token/#:~:text=byzantine%20fault%2Dtolerant.-,Pendiri%20Sui%20(SUI)%20Token,%3B%20George%20Danezis%3B%20Kostas%20Chalkias.