As Sui's ecosystem gradually establishes a global reputation and promotes blockchain education and applications through cooperation with cutting-edge financial technology platforms such as Revolut, the future development direction of Sui's ecosystem has become the focus of the industry. Today, Sui's total locked value has climbed to US$593 million, fully demonstrating its vitality and expansion potential in the field of decentralized finance. In this rapidly developing context, how should we cleverly use Sui's technical advantages and community resources to promote the maturity and expansion of the ecosystem? Come and take a look at the 42nd TinTinWeekly event!
At 20:00 on April 24, the 42nd TinTinWeekly event was successfully held. Sui technical ambassador UVD, Scallop COO Ann, MoveBit co-founder Luis, Typus Finance BD director Kyrie, and Blockchain Academy co-founder Max were invited to the event live broadcast room to explore the development path of Sui's ecological prosperity and growth. This online event attracted nearly 26,000 viewers, and many viewers also interacted closely with the guests in the live broadcast room.
Friends who missed the live broadcast can click to replay:
🕹️ Twitter Space: https://twitter.com/i/spaces/1PlKQDXBNmBxE
Explore the technological innovation and ecological advantages of Layer 1 innovator Sui
Object-oriented programming model
As an emerging Layer 1 public chain, Sui Blockchain stands out in the fiercely competitive blockchain field with its unique technical features and design concepts. UVD teacher shared Sui's core technical advantages and said: "Sui was built from scratch, and it uses an object-oriented programming model (OOP), which makes each object like an independent item in real life." This model is different from the traditional account-based blockchain system, but adopts a more flexible object system, where each object is regarded as an independent entity, similar to an item or asset in real life. This structure enables Sui to be closer to real-world economic activities.
In addition, Sui uses the Move programming language, which supports formal verification and greatly enhances the security and performance of the system. Sui's accounting model is also quite innovative. It adopts a single transaction, that is, a block processing method, which significantly improves the processing speed and system throughput, thereby supporting a wider range of application scenarios. However, Max also pointed out the challenges faced by Sui. Although the Move language is powerful, as a newer language, its developer community foundation needs to be strengthened, which needs to be achieved through education and community building. The success of a public chain depends not only on technical advantages, such as high throughput and security, but also on-chain assets and broad consensus support. For Sui, the key to the future lies in how to increase on-chain native assets and establish a broader consensus, Max added.
Ecosystem cooperation and technology application
In the Sui ecosystem, Sui has attracted many innovative projects including Scallop and Typus Finance. Scallop has developed a security-focused lending platform on the Sui platform. Ann said that the main reason Scallop chose Sui was Sui's object-oriented design and excellent performance. Scallop effectively avoids common security issues such as reentrancy attacks through Sui's security architecture.
Kyrie of Typus Finance also expressed high praise for Sui's technology: "Sui's consensus mechanism optimization is particularly important for our project. We used to be a project based on Solana. After switching to Sui, Typus Finance can handle large-scale on-chain NFT minting without affecting transaction stability and security." In addition, Typus Finance also fully utilizes Sui's Programmable Transaction Block (PTB) features, which not only improves transaction efficiency, but also significantly reduces costs, especially in the processing of complex financial transactions.
Sui Ecosystem's All-Round Strategic Layout
Code security and continuous maintenance
Through a series of innovative measures and technical optimizations, the Sui ecosystem is committed to building a more environmentally friendly, secure and community-responsive blockchain future. First of all, code security and continuous maintenance are crucial to the development of the Sui ecosystem. Luis of MoveBit pointed out that the Sui ecosystem not only conducts regular code audits, but also has a bug bounty program of up to $500,000 to encourage the discovery and reporting of potential security issues in the system. These measures guarantee the high security standards and sustainable development of the platform. In addition, Sui also provides audit subsidies for projects within the ecosystem, further strengthening the overall security of the ecosystem. This collective effort is key to avoiding possible security threats and ensuring the long-term stable operation of the network. Finally, Luis added that MoveBit works with security partner Atos to continuously publish security reports for circular verification and invests heavily in the development of static analysis tools, which are key measures to ensure the security of the Sui ecosystem.
🔍 For more information about Bug Bounty, please visit: https://sui.io/bug-bounty-program
Community cooperation and market adaptability
In addition to focusing on safety, Sui has also done a lot of work in community building and market adaptability. UVD emphasized: "The Sui ecosystem must not only seek innovation and change in technology, but also ensure close cooperation with the community." Since last year, the Sui ecosystem has cooperated with more than 30 educational institutions to promote the learning and application of the Move language, aiming to reduce learning barriers for developers, and actively collect community feedback through regular official hours and online communication platforms to quickly respond to market needs.
In terms of market strategy, Sui has shown great flexibility. Although it initially focused on game chains, as market demand changes, Sui has also begun to actively expand into other fields such as DeFi, while continuing to support game development. This flexible adjustment of strategy enables Sui to better meet the needs of the market and the community.
Sui Ecosystem's Technological Outlook and Ecosystem Expansion
Technological innovation and optimization of user experience
UVD introduced how the Sui team has been deeply promoting technological innovation, especially the update of the 2024 version of the Move language, which marks Sui's determination to pursue higher scalability, security and user experience. In addition, he mentioned that Sui is promoting the implementation of official cross-chain bridge services to reduce handling fees, as well as cooperation with major stablecoin issuers such as USDC and USDT. These efforts are all aimed at enhancing the practicality of the Sui ecosystem and attracting more users and developers to participate.
Ecosystem Expansion and Market Opportunities
In this regard, Max and Ann also shared their views on DeFi and game assets. Max believes that although DeFi projects in the market are relatively mature, there is still huge room for development in sub-fields such as derivatives and insurance. Ann is optimistic about the potential of the game and blockchain protocol track. She believes that by issuing more native assets, the activity and innovation in this field will be further promoted. The development of these fields will not only attract more users, but also inject new vitality into the entire Sui ecosystem.
Key technologies for large-scale applications
In terms of lowering the threshold for use, Max mentioned the importance of technologies such as ZK Login and sponsor transaction, which simplify the user's operation process and make it easy for non-professional users to get started with blockchain applications. At the same time, Kyrie discussed the application of stablecoins such as First Digital USD (FDUSD) in the Sui ecosystem, which not only helps to simplify the user's capital flow process, but also brings more liquidity to the DeFi ecosystem. Through such cooperation, Sui can better connect traditional finance with modern blockchain technology and broaden its influence in the global financial market. Finally, UVD shared Sui's long-term vision: "Through continuous technological innovation and close community cooperation, I believe that the Sui ecosystem will continue to grow and prosper, and jointly shape a sustainable, secure and innovative blockchain future."
Conclusion
With the continuous progress of Sui ecology in technological innovation, ecological cooperation and market strategy, Sui has demonstrated its unique advantages in the competition of Layer 1 public chains. Through continuous technological updates, expanded ecological cooperation and deepening community exchanges, the Sui ecosystem is forming a more inclusive, secure and innovative network environment, providing unlimited possibilities for global users and developers. We look forward to Sui leading more innovative practices and jointly promoting the continuous expansion of the boundaries of blockchain technology.
