The Sui blockchain mainnet goes into action

The Sui Foundation launched the main network of its blockchain. Several exchanges opened on trading for SUIon token native to layer1.

After several months of testing, the blockchain network Sui has finally been activated this Wednesday May 3rd around 2 pm.

Sui has many advantages over currently available blockchains. Sui’s object-centric model, based on its new architecture, enables parallel processing of transactions and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unparalleled speed at low cost,” reads the launch release.

Built by Mysten Labs and often touted as a rival to Aptos because it is based on the same programming language (Move), the blockchain network Sui will also compete with other major smart contract platforms like Ethereum and Solana. It exploits a Delegated Proof Of Stake.

Several crypto exchanges, including OKX and KuCoin, have begun allowing their users to trade SUIthe network’s native digital coin. At the time of publishing this article, its price is around 1.25 dollar on Binance.

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The SUI token had been the subject of several public sales in recent weeks.

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