The Sui tokenomics model comprises five core components. These are the SUI token, gas fees, Sui’s storage fund, the Proof-of-Stake mechanism, and on-chain voting.
Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. They are a decentralized, proof-of-stake blockchain with horizontally scaleable throughput and storage.
Sui’s unique features mean there will be unmatched scalability and instant settlement of transactions. The platform can scale horizontally to meet the increasing demands of applications. Sui’s authorities can add workers to increase processing power in order to meet growing network capacity. The result of this would be lower gas fees even when network traffic is high, and thus better user experiences for web3 apps.
The Sui blockchain looks promising, and its technical features, development approach, and aspirations seem to have hit it off with a number of blockchain evangelists.
It is also true to say that Sui will have to endure stiff competition from other blockchains and must continue upgrading its ecosystem if it wants to enjoy wider adoption.
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