SUI/USD: Convert SUI (SUI) to United States Dollar (USD)

SUI (SUI) is a groundbreaking layer-1 blockchain platform that aims to support the global adoption of blockchain technology by offering a secure, powerful, and scalable development platform. SUI leverages a unique object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures. SUI prioritizes user experience by eliminating barriers commonly associated with blockchain interactions. Through innovations like zkLogin, sponsored transactions, and programmable transaction blocks, SUI strives to create a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.

SUI's innovative architecture offers low-latency transactions with stable transaction fees, high throughput through horizontal scaling and parallelized execution, and empowers developers with powerful capabilities and tools to craft the next generation of Web3 applications. At the heart of SUI's uniqueness lies its object-oriented design, offering a new way of developing on blockchain. This changes how assets and protocols can work together to create greater products with broad composability. Dramatic improvements to crucial network processes, such as transaction processing, are enabled by the use of objects on SUI. Many transactions are finalized and settled in less than half a second all while maintaining high throughput and stable transaction fees.

SUI is a versatile and liquid asset that can be used for various applications within Sui’s ecosystem, such as decentralized exchanges, lending and borrowing applications, games, and much more. The SUI token currently serves three primary purposes on Sui: Proof-of-stake participation, gas fee payments, and utility across applications. The SUI token will play a crucial role in future governance of Sui by granting holders the right to participate in onchain voting on important issues, such as protocol upgrades and changes to the platform.

SUI was developed by Mysten Labs, founded by former lead architects of Meta’s blockchain research team. The team includes Evan Cheng, CEO of Mysten Labs, who has an extensive background in platform development, Adeniyi Abiodun, CPO of Mysten Labs, who has led engineering and product teams across Big Tech companies, Sam Blackshear, CTO of Mysten Labs, a researcher and engineer specializing in programming language design, and George Danezis, Chief Scientist of Mysten Labs, a Professor of Security and Privacy Engineering at University College London. The SUI token has a total supply capped at 10,000,000,000 (ten billion tokens) and is primarily used to secure the network and act as a unit of account and payment within the network.