Sui is ANOTHER layer 1 blockchain this time built entirely from scratch and it operates on a proof of stake consensus.
This project has BIG financial backing from some well known major funds - Coinbase Ventures, Jump Crypto, Circle Ventures, A16z & Binance Labs to list a few. They also have a deep war chest to dip in to for the likes of marketing and R&D considering they raised $300million in their series B.
The team is a strong and experienced one with former top executives from Facebook’s Meta team advanced blockchain research and development group so the project seems to be in capable hands.
The thing I like most with this layer 1 is its own open sourced smart contract language called Move. Its simple syntax and emphasis on security make it an ideal choice for developers looking to build robust and secure blockchain applications.
It’s mcap is nearly $700m at the time of writing this upon its token release so I don’t see big X’s to be had from investing in Sui currently. Show Less
1
