Cryptocurrency Q&A
What blockchain is Sui built on?
What blockchain is Sui built on?
Maria
Wed May 22 2024
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7 answers
1903
Could you please elaborate on the blockchain technology that Sui is founded upon? I'm curious to understand the specific technical details behind the infrastructure that Sui utilizes. Is it a custom-built blockchain, or does it rely on an existing, well-established blockchain platform? Additionally, what are the key features and advantages of the blockchain Sui is built on? I'm interested in learning about its scalability, security, and overall performance capabilities. Thank you for your insights.
7 answers
Caterina
Fri May 24 2024
The native token of this blockchain, SUI, plays a pivotal role in its ecosystem. It is primarily used for staking by validators and delegators, providing them with an incentive to participate in the network's maintenance.
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Michele
Fri May 24 2024
BTCC's services include spot trading, allowing users to buy and sell cryptocurrencies at current market prices. Additionally, it offers futures trading, enabling investors to speculate on the future prices of digital assets.
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BonsaiLife
Fri May 24 2024
Additionally, SUI serves as a means to pay gas fees, the transactional costs associated with performing actions on the blockchain. This ensures that the network remains economically sustainable.
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Martino
Fri May 24 2024
Cryptocurrency, a digital asset designed to work as a medium of exchange, is evolving rapidly. Among the numerous options, a particular blockchain stands out, sharing similarities with Ethereum and Bitcoin but offering a unique consensus mechanism.
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InfinityVoyager
Fri May 24 2024
Beyond staking and gas fees, SUI also represents a governance right. Holders of this token can participate in decisions that shape the future of the blockchain, voting on proposals and influencing its development.
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