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Last week, insiders revealed that a development team called Mysten Labs, formed by several former Libra project engineers, is seeking to raise at least $200 million in Series B funding at a valuation of $2 billion. The current round of funding will be led by FTX Ventures, with existing investors committing to provide at least $140 million. Mysten Labs is the development team behind Sui.
As early as November of last year, Mysten Labs completed a $36 million Series A funding round, led by a16z, with participation from Coinbase Ventures, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT, Lux Capital, and others.
Similar to Aptos, Sui also inherits Libra's Move development language but has made certain improvements to the original version (Core Move). Sui has introduced its own Sui Move version, which optimizes storage mechanisms, address types, and other aspects while building upon the security and flexibility of Move. This enhances network performance and reduces transaction confirmation times.
Enhancing performance has always been a core focus for Sui. By categorizing transaction types, Sui employs different consensus mechanisms for independent transactions and transactions with dependencies, allowing for transaction parallelization. According to Trace, a partner at Figment Capital, early data from running a Sui node on a MacBook Pro indicates the ability to process over 120,000 token transactions per second.
At the end of May, Mysten Labs released Sui's token economic model and incentive-related details. The total supply of the SUI token is 10 billion, with a portion circulating at the launch of the mainnet, and the remaining SUI tokens will be unlocked or distributed in incentive activities in the coming years. Use cases for SUI include participating in PoS staking, paying gas fees, supporting the Sui economic system, and participating in on-chain voting, among other things.
This week, Sui has just released the Sui Wallet Chrome extension wallet for testing purposes. Additionally, Mysten Labs has previously announced that the Sui incentive testnet will launch in August, so interested individuals can begin preparing. |
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Post time 17-10-2023 07:53:45