• Sui Mainnet has launched, offering a high-performance blockchain platform with parallel transactions and sub-second finality.
• Sui uses the Rust-based Move programming language to achieve horizontally scalable processing and storage.
• The network is currently centralized, but this may change as more validators join the network.

Sui Network Launches Mainnet

The Sui Foundation announced on Wednesday that its mainnet is now live. Developed by Mysten Labs, the Layer 1 blockchain and smart contract platform was designed to make digital asset ownership fast, private, secure, and accessible to everyone.

Features of the Sui Network

Sui offers several advantages over current blockchains, such as its object-centric model which enables parallel transactions, sub-second finality, and rich on-chain assets. Horizontal scalability in processing and storage also allows for a vast array of applications at low costs and unrivaled speeds. At launch, transaction speeds were around four transactions per second but have since increased to 18 transactions per second.

Centralization Issues

Although there are currently 2100 nodes on the network, most are located in Germany and the United States with only a few in Asia and Eastern Europe. This centralization issue could be resolved as more validators join the network over time.

Mysten Labs & Move Programming Language

Mysten Labs was founded by ex-Meta executives with an aim to develop the Sui blockchain using Move – a Rust based programming language – for horizontal scalability in processing and storage capabilities which can handle a vast array of applications at low cost & high speed performance. In September 2022 they raised $300 million during their series B funding round placing their project’s total valuation at $300 million USD.


With its launch today , Sui Mainnet is set to take on other DeFi heavyweights such as Aptos whilst providing users access to a high performance blockchain platform with improved security & privacy features plus faster transaction speeds than any other PoW or PoS network available today .

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