What is SUI?

By Hata Team

2/21/20254 min read

Key Takeaways

Sui is a Layer-1 blockchain designed for high-speed, low-cost decentralized applications (DApps) using an object-centric model and the Move programming language.
Features like zkLogin and sponsored transactions simplify user onboarding and interactions.
Sui’s scalability and affordability make it ideal for industries like gaming, DeFi, and commerce.

What is Sui?

Sui is a cutting-edge Layer-1 blockchain built to be fast, cost-effective, and accessible. As the foundation for decentralized applications (DApps), Sui addresses common blockchain challenges such as slow transactions and high fees. The platform was developed by Mysten Labs to make blockchain technology more efficient and user-friendly.

Sui features a native cryptocurrency, $SUI, which is used for staking, governance, and transaction fees.

Key Features of Sui

Technical Innovations

Object-Centric Design – Unlike traditional blockchains that focus on accounts and balances, Sui treats digital assets as objects, allowing for more complex interactions.
Programmable Transaction Blocks (PTBs) – Developers can bundle multiple actions into a single transaction block, making DApp development more flexible and efficient.
Horizontal Scaling – Sui scales dynamically, meaning it can handle increasing transactions without sacrificing security or speed.
Move Programming Language – Originally developed by Meta for Libra, Move is optimized for digital assets, providing enhanced security and efficiency.

User-Centric Features

zkLogin – Users can create wallets with existing accounts (Google, Apple, etc.), removing the need for complicated seed phrases.
Sponsored Transactions – Developers can pay for transaction fees, allowing seamless interaction without requiring users to hold $SUI.
Dynamic Fields – Digital assets can evolve over time with customizable properties, enhancing flexibility for DApps.

The $SUI Coin

$SUI is the native cryptocurrency of the Sui blockchain and plays a crucial role in the ecosystem:

Staking & Governance – Users stake $SUI to help secure the network and participate in key decisions.
Transaction Fees – SUI is used to pay for gas fees, which remain low and consistent.
Storage Fund – A portion of gas fees contributes to long-term network storage, ensuring sustainability.

Tokenomics

Total Supply: 10 billion SUI
Market Cap (as of Feb 20th, 2025): ~$10.18 billion

Use Cases and Applications

Sui’s technology enables a variety of real-world applications:

Gaming

Players gain true ownership of in-game items, which they can trade or use across different games.
Faster transactions ensure a seamless gaming experience.

Decentralized Finance (DeFi)

Low fees and fast transactions make Sui ideal for DeFi applications such as lending, borrowing, and trading.
Advanced liquidity tools improve market efficiency.

Commerce

Brands can create digital assets linked to physical products, offering unique customer experiences and loyalty programs.

Security and Privacy

Sui integrates cutting-edge cryptographic techniques to protect user data:

Zero-Knowledge Proofs (ZKPs): Enable transactions to be verified without exposing sensitive information.
zkLogin: Ensures secure logins without compromising privacy.

Why Sui Stands Out

Sui is not just another blockchain — it redefines how digital assets and transactions work :

Parallel Execution & Low Latency – Transactions are processed in parallel, reducing wait times.
Enhanced Developer Flexibility – Object-based design allows for deep composability and customization.
User-Friendly Onboarding – zkLogin and sponsored transactions remove major adoption barriers.

How to buy $SUI on Hata

Create an Account: Sign up on the Hata platform by providing your email address and setting up a secure password. Verify your email to activate your account.
Verify Your Identity: Complete the KYC (Know Your Customer) process by submitting the necessary identification documents as required by Hata for security purposes.
Deposit Funds: Add funds to your Hata account.
Navigate to $SUI: Once your account is funded, go to the cryptocurrency marketplace on Market Instant Buy and search for $SUI.
Place an Order: Decide on the amount of $SUI you wish to purchase.
Secure Your $SUI: After purchasing, ensure your $SUI is stored securely. You can keep it in your Hata wallet.
Monitor Your Investment: Keep track of your $SUI investment through the Hata platform. Stay updated on market trends and news to make informed decisions.

Final Thoughts

Sui is a fast, scalable, and user-friendly blockchain designed for Web3 innovation. Whether you're a developer, investor, or everyday user, Sui provides a seamless and accessible ecosystem. With its strong foundation and focus on usability, Sui is shaping the future of blockchain technology.

And now, Hata is bringing $SUI to our brokerage platform! With seamless access to $SUI, Hata users can trade, invest, and engage with the Sui ecosystem like never before.

Ready to explore Sui? Get started today with Hata and be part of the next wave of blockchain innovation!

DISCLAIMER & WARNING

The information provided here is presented "as is'' and is intended for general informational and educational purposes only. It does not come with any representation or warranty of any kind. This content should not be interpreted as financial, legal, or other professional advice, and it is not intended to endorse or recommend the purchase of any specific product or service. It is advisable to consult with appropriate professional advisors for personalised guidance. In cases where the article is contributed by a third-party author, please note that the expressed views belong to the author alone and may not necessarily reflect the opinions of Hata. For further details, we encourage you to read our complete disclaimer. Please be aware that the prices of digital assets can be highly volatile. The value of your investment may increase or decrease, and there is a risk that you may not recover the full amount invested. You are solely responsible for making your own investment decisions, and Hata cannot be held liable for any losses you may incur. This material is not to be construed as financial, legal, or other professional advice. For more information, please refer to Hata’s Terms of Use and Risk Warning.