.SUI. Is the native cryptocurrency of the .Sui blockchain. developed .Mysten Labs . (ex. Meta engineers) .lt,s a high.performance Layes 1 blockchain designed for scalability . low latency , and . Instant finality
Sui uses a unique . Object - based data mobel and the move programming language , allowing it topesigned
In parallel making if ideal for fast applicatons like DeFi, gaming .and NFTs .
Key Uses of SUI
Paying transaction (gas) fees
Staking for rewards and network security
Participation in future governance
Utility in apps built on Sui
Launched in .May 2023, SUl aims to compete with
Platforms like solana. And . Spots . by offering a
developer - scalable ecosystem
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