Sui Blockchain Launched by Former Diem Developers for Web3 Scalability

Today, we announce Sui to the world — the 1st permissionless Layer 1 blockchain designed to enable creators & devs to build experiences that cater to the next billion users in web3! Read about it here:

  • Sui supposedly achieves this by deploying parallel agreement technology which allows the network to validate and execute transactions simultaneously. Also, the breakthrough enables Sui’s protocol to match application demand and mitigate high transaction costs.
  • Mysten’s announcement further stressed that Sui offers a “step-function advancement” in blockchain throughput designed for the next generation of Web3 infrastructure and users.
  • The team’s announcement includes the launch of a software development suite for crypto engineers to play with. 
  • Sui’s mainnet is expected to ship before the end of 2022. An initial testnet should go live in the next few months as well, per the report.

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