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Sui Blockchain — new L1 chain
Super fast, super scalable blockchain.
Downfall of Meta’s Diem (previously Libra) has its cons: talented people building their own blockchain. That is the case of Sui, the newest L1 blockchain which was founded by senior 4 ex-Meta employees.
Sui is a super-fast, super-scalable and super-secure blockchain, with the main goal build rich and dynamic on-chain assets from gaming to finance.
What is Sui Blockchain?
Sui has 4 co-founders, all coming from Meta’s Diem company, which was working previously on a stablecoin Libra.
The language developed at Diem — Move — is used in Sui for smart contracts. There’s a great AMA with the Mysten Labs team that explains differences between Move and Solidity (used in Ethereum).
So what is Sui?
Sui is the first permissionless Layer 1 blockchain designed from the ground up to enable creators and developers to build experiences that cater to the next billion users in web3. Sui is horizontally scalable to support a wide range of application development with unrivaled speed at low cost.
That’s the description written by the team in their announcement.
