Sui Token has a rate of 1,100 % at its price, and it is one of the most assets that spoke about encryption assets in 2024.

Sui (but) he Layer 1 Blockchain that aims to run the next billion users in Web3. Blockchain claims that it is "a fast, safe, safe, and reasonable infrastructure"

In this article, we will learn what is Sui, the history of sui blockchain, how it works, and the price date for the Sui symbol.

What is only?

the but (Sui) Blockchain is a platform designed to emphasize the ability to expand its decentralized applications (DAPPS) and shortening the time it takes smart contracts to implement.

SUI offers many architectural ideas to increase its speed and ability to expand without prejudice to the Blockchain, and its distinction from other Blockchains such as Ethereum, Solana and Polkadot. This consists of a smart contract programming language, processing parallel transactions, and SUI consensus engine.

Cryptocurrency Sui auditors can participate in the original cryptocurrency, to check the transactions using the delegated SUI (DPOS) proof. In addition, SUI connects the statute by working as a means of trade, implementing detailed programs, and rewarding users who contribute to its progress.

Now that we knew what to be used for Sui, let's discuss its history and background.

History and background

In August 2022, SUI first appeared in the incentive -based Testnet, and Mainnet became active on May 3, 2023.

Mysten LabsHeaded by a number of senior officials of the Novi Digital Wallet initiative now, is developing Blockchain.

In September 2022, mysten Labs received $ 300 million in the Rest Fractions Tour Blue to create Blockchain. Famous investors, including the department, Binance LaboratorySupports Lightspeed Venture Partners, A16z and NCSOFT work.

The Sui Foundation, on the other hand, is an independent entity that helps society and its initiatives. Its goal is to accelerate the support of Sui Blockchain all over the world to register the next billion in Web3.

How does it work?

SUI has a distinctive consensus and technique of treating transactions from other Blockchains. The traditional Blockchain endorsements add transactions to Blockchain in a successive way, which reduces the ability to expand in Blockchain and makes it difficult to accelerate additional additions known as vertical scaling.

SUI eliminates the need to verify every treatment by each knot in the network because many transactions have nothing to do with their nature. Instead of confirming the full chain, it only looks at the relevant piece of data.

Moreover, it uses an object -focused model, which focuses on storing chain data around things instead of accounts, to do this effectively. Instead of the need to arrange each transaction as in the traditional Blockchain model, the SUI contract can verify independently unrelated treatment flows separately due to this innovative type of data storage.

The process of broadcasting and verifying the entire transaction begins with a sender broadcasts the treatment to all auditors. Next, auditors are verifying the treatment, analyzing the auditors' share, and sending their weighted voices based on the share. After collecting a powerful majority of the Byzantine, the sender broadcasts the result for the fighters in the form of a testimony.

Sui is likely to be able to achieve transactions rates of more than 100,000 transactions per second as a result.

Date of price

the but The cryptocurrency recorded its lowest level ever on October 19, 2023, at $ 0.3643, and since then the symbolic symbol witnessed an increase of 1000 %, and the highest level has ever registered at $ 5.35 on January 06, 2025. At the time of this report, it is circulated. SUI's distinctive symbol at $ 3.76, a maximum of $ 11.32 billion and a 24 -hour trading volume of 921.68 million dollars.

Looking at the SUI symbol, we can see a formation of its highest levels and the lowest levels is a sign of continued ascension. For long -term buyers, it may be the time to wait 0.5 and 0.618 of the fiber, also known as the golden FIB area, as it is also associated with a major support area for Sui's symbol.

It should be noted that this price analysis can be a mistake because the encryption market depends heavily on the basic factors and you must conduct the research before investing in this distinctive symbol.