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Cryptocurrency News Articles
Sui Will Unlock 64,190,000 SUI Tokens on January 1st
Dec 14, 2024 at 02:02 pm
Sui is a first-tier blockchain designed to address certain challenges associated with Web3. One of the major innovations offered by Sui is parallel transaction execution.
Sui (SUI) will unlock 64,190,000 SUI tokens on January 1st, constituting approximately 2.19% of the currently circulating supply, according to data from Footprint Analytics.
Sui is a first-tier blockchain designed to address certain challenges associated with Web3. One of the major innovations offered by Sui is parallel transaction execution. On other platforms that process smart contracts, transactions are executed one at a time, usually in the order they are received. This leads to longer processing times. However, the Sui blockchain accepts transactions in parallel, and simple operations bypass consensus, allowing them to be completed almost instantaneously.
The Sui network supports smart contracts through the Sui Move language, which is an upgraded version of the Move language. Move is a programming language based on the popular Rust language and prioritizes fast and secure transaction execution.
SUI is the native token of the Sui blockchain. Tokens can be used for staking and as payment for gas fees in the Sui PoS network.
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