Discover the essential Sui blockchain terms for beginners. From layer-1 to Move, we'll guide you through the basics in this informative article.
The Sui blockchain is a rapidly evolving technology that is changing the way we conduct transactions and store data. For beginners, it can be difficult to navigate the complex terminology used in this space. This article aims to provide a concise guide to some of the most important Sui blockchain terms that every beginner should be familiar with. From consensus mechanisms to proof-of-stake, we'll explore the fundamental concepts that underpin this exciting technology.
The Sui blockchain operates as a base-level blockchain or layer-1 blockchain, utilizing software that is sustained by a group of autonomous validators. Unlike layer-2 or higher-level blockchains that serve as supplements to layer-1 blockchains, a layer-2 blockchain may enhance scalability or provide functionalities that are absent in the underlying software by building on top of a layer-1 blockchain.
Consensus is the process by which validators on a blockchain determine the validity of transactions. While it is not an issue for Sui when a single entity manages all servers, it becomes a concern when multiple independent operators are involved. Proof-of-stake is the mechanism that enables these operators to demonstrate their approval authority for transactions.
Furthermore, operating validators that support the Sui blockchain requires financial resources, and independent operators should be compensated for their efforts. As with other blockchains, Sui utilizes a native token called SUI, which validator operators can earn by validating transactions. The amount of tokens they possess, known as their stake, is their proof-of-stake, as mentioned earlier.
The Sui blockchain permits the storage of various digital data objects, such as images, signatures, or documents, among others. The network is responsible for preserving these objects. One of the most significant advantages of Sui is the ease with which object owners can transfer them directly to other users, utilizing minimal network resources.
Sui employs a system of owned and shared objects, which leads to more efficient transaction processing. Shared objects can be owned by multiple addresses, and transaction approval requires validation by the blockchain's validators, which can be a more resource-intensive process. Unlike most blockchains, which treat all objects as shared, Sui's design enables simple one-to-one exchanges, thereby reducing resource consumption for many transactions.
When it comes to blockchain, consensus is a term that refers to the process by which nodes or validators agree on the state of the ledger. In the case of Sui, consensus is used to verify transactions involving shared objects on the network. Transactions involving owned objects do not require consensus and are processed instantaneously.
Owned objects are not included in the "blocks" of the blockchain and are handled directly by validators using simplified algorithms. On the other hand, shared objects require consensus to be settled and recorded on the Sui blockchain. This can potentially delay transactions if the network is processing many transactions involving shared objects.
Scalability is a vital aspect of Sui's blockchain technology. Unlike conventional blockchains, Sui's distributed computing model functions more like a conventional cloud service. Therefore, as the load on the network increases, validators can add additional processing power, akin to how Amazon Web Services responds to its clients' traffic growth.
Validators are encouraged to expand the network's capacity because they earn more gas fees, not higher fees. This approach not only enables Sui to handle increased user traffic efficiently but also keeps gas fees stable and uniform, making it easier for more users to join the network.
By expanding network capacity in this manner, Sui ensures that applications such as games, productivity tools, and social media platforms function quickly and reliably. Developers can charge fees based on subscription models that can withstand fluctuations in gas prices, and the network's infrastructure remains secure against validator gas fee wars or server crashes.
Sui's native programming language is Sui Move. The core Move language, which Sui Move is based on, was created in 2018 explicitly for smart contract programming on blockchains. Its creators aimed to introduce first-class abstractions of assets and access control, which was lacking in prior blockchain programming languages.
However, as Sui's founding team commenced the development of this new blockchain, they discovered the necessity for further refinement of Move. Sui Move was designed to incorporate everything a blockchain developer needs to build performant, secure, and feature-rich applications. It offers native support for blockchain-specific concepts such as accounts, transactions, time, and cryptography.
In conclusion, Sui has some unique concepts and terms that might take some time to fully grasp. However, with this article, we hope that you now have a better understanding of some of the more difficult terms associated with the Sui blockchain. Whether you're a developer or a user, understanding these terms is essential to getting the most out of the Sui blockchain.
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