What Is Sui? The Layer-1 Blockchain With an Object Model and Ten Billion SUI

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Sui is a layer-1 blockchain from Mysten Labs that stores data as objects instead of account balances and processes transactions in parallel. This profile explains the technology, the SUI token, staking, risks and what applies to buying and tax in Germany.Sui is a layer-1 blockchain that stores data as objects instead of account balances.Add as a preferred source on GoogleFollow on Google NewsSui is a layer-1 blockchain that has been running on mainnet since May 3, 2023 and was developed by the US company Mysten Labs. Its token is called SUI, and supply is capped at ten billion. What sets Sui apart from older networks is its data model: the blockchain does not store account balances but individual objects, each with its own ID, owner and version number. Transactions that involve different objects can therefore be processed in parallel. For investors, Sui is no longer a niche project. According to CoinGecko data, the token ranked 29th among the largest cryptocurrencies on Sunday, ...