Sui

Sui (SUI) is a Layer 1 blockchain and smart contract platform developed by Mysten Labs, a team of engineers who previously worked on Meta's Diem and Novi projects. The network is built around Move, an asset-oriented programming language designed to make digital ownership a first-class concept at the protocol level.

Sui's execution model treats most assets as independent objects rather than entries in a shared global state. Transactions that touch unrelated objects can be processed in parallel without going through full consensus, while transactions involving shared objects pass through a Byzantine fault-tolerant consensus protocol. This design supports high throughput and predictable fees, even under sustained load.

The SUI token is used to pay transaction and storage fees, stake with validators and participate in governance. The network includes a storage fund mechanism that funds long-term data persistence, separating ongoing storage costs from one-off transaction fees. Within the broader landscape, Sui sits among newer high-performance Layer 1 networks built on the Move language family, distinguished by their object-centric data model and parallel execution architecture.

Move-based Layer 1 networks organise state around discrete objects rather than account balances, supporting parallel execution and asset-oriented programming primitives at the protocol level. Sui sits within this category, alongside other chains using the Move language family and similar object-centric data models. Readers tracking how next-generation Layer 1 designs compete can explore broader trends across crypto and Web3.