Chain explainer

What is Sui?

Sui is a Layer 1 blockchain launched on May 3, 2023, by Mysten Labs. Built using the Move programming language with an object-centric data model, Sui processes 200,000–300,000 transactions per second through the Mysticeti consensus protocol. Native asset: SUI, used for gas, staking, and governance.

Last updated: 11 May 2026.

What is Sui — the basics

Sui is a Layer 1 blockchain — a foundational protocol on which other applications and assets are built, similar in category to Ethereum, Solana, or Aptos. The chain was conceived and launched by Mysten Labs, a company founded by ex-Meta engineers from the Diem (formerly Libra) project that Meta wound down in early 2022.

The chain went live on its public mainnet on May 3, 2023. As of mid-2026, Sui has a substantial ecosystem of DeFi protocols, NFT marketplaces, gaming projects, and infrastructure, with TVL in the billions and an active developer community.

What does Sui mean

The name "Sui" (pronounced "swee") comes from the Japanese word for water (水). The name choice reflects the chain's design philosophy: fluidity, parallel transaction processing, and high throughput. The Sui logo also evokes water imagery.

What is Sui crypto / what is Sui coin

"Sui crypto" and "Sui coin" generally refer to SUI, the native asset of the Sui blockchain. SUI is used to:

1. Pay gas for transactions on the chain
2. Stake with validators to secure the network and earn rewards
3. Participate in on-chain governance
4. Provide storage fund deposits for long-term on-chain data persistence

SUI has a maximum supply of 10 billion tokens with a multi-year unlock schedule. For details, see /learn/sui-tokenomics and /learn/sui-token-unlock-schedule.

What is Sui blockchain

The Sui blockchain is the underlying network — the validators, consensus protocol, virtual machine, and data structures that together form Sui. It's distinct from "the SUI token" which is the asset that lives on the blockchain. Both are important; the blockchain is what's running, the token is what users hold and transact.

How does Sui work — the technical model

Sui differs from most blockchains in three architectural choices:

1. Object-centric data model. Assets on Sui are first-class objects with their own identity, not just balances inside an account. An NFT is an object; a SUI coin (above some minimum) is an object; a smart contract holding state is an object. This lets Sui reason about ownership and concurrency at the object level.
2. Parallel transaction execution. Because Sui knows which objects each transaction touches, it can execute independent transactions in parallel. Two transactions that touch entirely different objects don't need to wait for each other. This is the source of Sui's high throughput.
3. Mysticeti consensus. Sui's consensus protocol provides sub-second finality with high throughput. Mysticeti improved on the original Bullshark/Narwhal consensus that Sui launched with, dropping latency significantly while maintaining security guarantees.

The result: a chain capable of 200,000–300,000 transactions per second under realistic conditions, with finality measured in hundreds of milliseconds rather than seconds or minutes.

Sui blockchain explained — what makes it different

Three things distinguish Sui from comparable Layer 1s:

• Move language — Sui smart contracts are written in Move, a language designed at Meta specifically for digital asset safety. Move's type system makes certain classes of smart contract bugs impossible to express. Compare: Solidity (Ethereum) is more flexible but more error-prone.
• Object model vs account model — Sui's object model is conceptually different from the account-balance model used by Ethereum and most other chains. For users, this is mostly invisible; for developers, it changes how applications are designed.
• Parallel execution — Sui processes independent transactions in parallel by default. Most chains process transactions sequentially. This is the architectural reason for Sui's throughput numbers.

For a deeper comparison, see /learn/sui-vs-ethereum-vs-solana.

Who is behind Sui

Sui was built by Mysten Labs, a company founded in 2021 by five ex-Meta engineers from the Diem project:

• Evan Cheng — CEO, former Director of R&D at Meta
• Sam Blackshear — CTO, creator of the Move language
• Adeniyi Abiodun — CPO
• George Danezis — Chief Scientist
• Kostas Chalkias — Chief Cryptographer

Mysten Labs raised $300M in Series B funding in September 2022. The Sui Foundation is an independent body that supports the broader Sui ecosystem.

For more, see /learn/who-is-behind-sui.

Sui mainnet launch date

Sui mainnet launched on May 3, 2023. Prior to mainnet, Sui ran on devnet (developer network) and testnet (public test network) for community testing.

What is Sui used for

Use cases on Sui:

• DeFi — DeepBook (native order book), AMM DEXes (Cetus, Turbos), lending protocols, liquid staking (Haedal)
• NFTs — Sui's object model is particularly well-suited to NFTs; multiple marketplaces operate on Sui
• Gaming — high TPS and low fees make Sui attractive for on-chain games
• Stablecoin payments — major stablecoins are issued on Sui
• DePIN — decentralized physical infrastructure projects use Sui's high throughput
• Sponsored transactions — apps can pay gas on user behalf, removing the "you need SUI to use Sui" onboarding hurdle

What is Sui used for — by users

For end users, the Sui blockchain is the layer that:

• Holds your SUI tokens, NFTs, and other assets
• Records your transactions when you send, swap, or stake
• Supports the dApps you interact with (DeFi, games, social)
• Provides the staking yield when you delegate SUI to validators

You interact with Sui through a wallet — like Sui Wallet Desktop, Slush, or Suiet — which manages your private keys and handles transaction signing.

Where is Sui

Sui is a global, decentralized blockchain — it doesn't exist in any single physical location. Validators (the nodes that operate the network) run on cloud and physical infrastructure distributed worldwide.

Mysten Labs, the company that builds Sui, is headquartered in Palo Alto, California.

Is Sui a good chain

Sui's strengths: high throughput (200k+ TPS), low fees, sub-second finality, Move language safety, polished developer experience, well-funded development team, growing ecosystem. Sui's challenges (like any L1): competing for attention with Ethereum, Solana, and other emerging chains; building a sustainable token economy; achieving meaningful decentralization over time.

For technology-focused users, Sui's design choices (Move, parallel execution, object model) are differentiated and well-engineered. Whether the chain achieves long-term success is a matter for the broader market to decide.

What is Sui — quick reference

Frequently asked questions