Buy Sui
What is Sui?
Sui is a groundbreaking layer-1 blockchain platform designed to support global adoption by offering a secure, powerful, and scalable development platform. It employs an object-centric data model and uses the Move programming language to facilitate secure smart contracts, while utilising parallel transaction processing for scalability. Additionally, it operates on a delegated proof-of-stake (DPoS) consensus mechanism.
How does Sui work?
Sui utilises a unique object-centric data model where data storage is centred around objects instead of accounts, allowing independent validation of uncorrelated transactions. It supports high scalability and efficiency through parallel transaction processing, bypassing the serial transaction processing of traditional blockchains. Sui's DPoS consensus mechanism involves users staking their tokens to support validators. The Move programming language, originally developed for the Diem blockchain, allows for secure and efficient smart contract development.
What are the potential use cases for Sui?
Sui's potential use cases range across various sectors due to its high scalability and low cost. In decentralised finance (DeFi), it supports applications like DeepBook and Turbos Finance. It also finds applications in gaming and NFTs, providing infrastructure for projects like SUI 8192 and Grand Cross: Metaworld. Its object-centric model is beneficial for supply chain management, enabling real-time asset tracking and updates. Additionally, Sui offers capabilities for fast and cost-effective retail payments.
What is the history of Sui?
Sui was founded by former engineers from Meta's Diem project after its discontinuation. Mysten Labs, founded in early 2022, aimed to address the scalability and performance challenges of existing blockchains. Sui's mainnet launched on May 3, 2023, and quickly gained traction, reaching over 1 million active accounts by July 2023. It introduced zkLogin in August 2023, a technology allowing logins to Web3 apps using existing credentials from platforms like Google. By November 2023, Sui had 9 million active accounts and a Total Value Locked (TVL) of $500 million. Key technological advancements include parallel transaction processing capabilities and the use of the Move programming language. Sui continues to expand with features like RPC 2.0 and Encrypted NFTs to enhance privacy and developer interactions.
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Frequently Asked Questions (FAQs)
What is the current price of Sui (SUI)?
The Sui price is $7.348 AUD, representing a -4.49% from the day prior.
Where is the best place to buy Sui (SUI) in Australia?
The best place to buy Sui (SUI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Sui (SUI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Sui (SUI)?
The trading volume of Sui (SUI) is $4.5B AUD in the last 24hrs, representing a -4.49% from the day prior.
How can I buy Sui (SUI)?
Sui (SUI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Sui (SUI)?
The current market cap of Sui (SUI) is $21.3B AUD.
Can I convert Sui (SUI) to cash?
Yes - With Coinstash you can convert your Sui (SUI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Sui (SUI) are there?
The current circulating supply of Sui (SUI) is 2.9B.
Is Coinstash a safe place to buy Sui (SUI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Sui (SUI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.