Cryptocurrency Q&A
What network is Sui on?
What network is Sui on?
KpopHarmonySoulMateRadiance
Thu Jun 13 2024
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7 answers
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Could you possibly elaborate on the network Sui is operating on? I'm rather curious to know more about the technological backbone that supports this cryptocurrency. Is it built on a widely-used blockchain, or does it have its own unique platform? Could you also explain the advantages and disadvantages of the chosen network? Understanding these details would greatly assist me in grasping the intricacies of Sui and its position in the cryptocurrency landscape. Thank you in advance for your clarification.
7 answers
BusanBeauty
Sat Jun 15 2024
Ethereum, another Layer 1 blockchain, utilizes its native token, ETH, to facilitate transactions and smart contract execution. It provides a robust platform for decentralized applications.
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CoinMaster
Sat Jun 15 2024
Similarly, Bitcoin, as a Layer 1 blockchain, relies on its native currency, BTC, for transactions and network validation. It has established itself as a leading cryptocurrency with a robust and secure network.
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Sofia
Sat Jun 15 2024
The Sui blockchain is a Layer 1 protocol blockchain, signifying its fundamental role in the blockchain ecosystem. This classification implies that Sui operates independently, executing its own consensus and validation mechanisms.
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Carlo
Sat Jun 15 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services to cater to the needs of crypto enthusiasts and investors. Among its offerings are spot trading, futures trading, and wallet services.
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SejongWisdomKeeperEliteMind
Sat Jun 15 2024
As a Layer 1 blockchain, Sui manages transaction blocks and network activities using its native token, SUI. This token serves as the backbone of Sui's operations, ensuring secure and efficient transactions.
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