Sui

Sui (SUI) is a Layer 1 network built by Mysten Labs. The company's founders previously led engineering work on blockchain research at Meta. The chain aims to give people a secure and quick environment for holding digital assets, and its smart contracts use the Move language.

The network keeps data as independent objects rather than a single list of accounts. This lets many transactions run at once instead of in sequence, and the design targets fast finalization. It also scales horizontally, which is meant to keep fees steady as usage expands.

Its features include zkLogin for simpler account access and sponsored transactions for using apps without a complex wallet. Developers can define custom object types that work across the network. The SUI token covers network fees and is used in decentralized exchanges and lending platforms. It is staked under proof of stake to support validators, and holders can vote on network rules and upgrades. A storage fund, filled by fees, pays validators to retain data over the long term.