<p>Layer 1 blockchains serve as the foundational infrastructure for decentralized networks, handling all transaction processing, consensus, and data storage on-chain. These blockchains do not rely on secondary layers to validate transactions, ensuring a high degree of decentralization. Notable Layer 1 blockchains include Bitcoin, Ethereum, and Solana, each offering distinct approaches to scalability, security, and consensus.</p><h2 id="header-0">What is Sui Network?</h2><p>Sui is another Layer 1 blockchain developed by <a href="https://www.mystenlabs.com/" rel="noopener noreferrer nofollow">Mysten Labs</a>, launched on May 3, 2023. It aims to offer faster transaction processing, low latency, and scalability, focusing primarily on decentralized finance (DeFi), gaming, and retail payments. Sui&#39;s innovative architecture and consensus mechanism make it stand out among other Layer 1 solutions, with the potential to enhance the efficiency of decentralized applications (dApps). Its native token, SUI, plays a critical role in maintaining network operations, governance, and overall ecosystem dynamics.</p><h2 id="header-1">History of Sui Network</h2><p>Sui Network was developed by Mysten Labs, a company formed by former Meta (formerly Facebook) employees who worked on the Diem blockchain. Leveraging their expertise, the team built Sui with a focus on overcoming the scalability and transaction latency challenges that have plagued other Layer 1 blockchains like Ethereum and Solana.</p><p>The mainnet launch on May 3, 2023, marked Sui’s official entry into the blockchain space, supported by a public sale of its native SUI token. The token sale took place on exchanges such as Bybit and KuCoin, though U.S. residents were restricted from participation due to regulatory limitations. Within its first few months, Sui garnered considerable attention, boasting over one million active addresses by August 2023 and nearly nine million by September 2023.</p><p><a href="https://cryptotale.org/a-review-of-sui-network-a-new-l1-gaining-momentum/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a></p><p><strong>Visit the links for more information </strong><a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|</p>

A Review of Sui Network: A New L1 Gaining Momentum

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