The Good Tech Companies - Sui Sets The Standard For Blockchain Speed With New Mainnet Consensus Mechanism

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Sway sets the standard for blockchain speed with new mainnet consensus mechanism.by Chainwire. Grand Cayman, Cayman Islands, August 6, 2024, Chainwire, Sui's new Mistaceti protocol cuts consensus latency to 390 milliseconds, elevating its industry-leading tech and developer stack to new highs. Sway, the pioneering Layer 1 blockchain known its industry-leading tech and developer stack to new highs. Sway, the pioneering Layer 1 blockchain known for industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticity on Sway Mainnet after a successful run on Testnet. This innovative protocol cuts consensus latency to an astonishing 390ms, establishing Sway as the fastest consensus

Starting point is 00:00:45 layer in the industry. Developed from extensive research into Byzantine fault tolerance BFT consensus mechanisms, MistiCity represents a significant advancement from Narwhal Bullshark, the consensus algorithms launched with Sway Mainnet over a year ago. MistiCity achieves unprecedented transaction speeds, extending Sway's impressive low latency performance across all transaction types on the network. Sway's object-oriented architecture allows the network to process transactions differently based on the characteristics of the transaction and the objects involved. Transactions on Sway involving only owned objects, such as peer-to-peer transfers, bypass

Starting point is 00:01:24 the need for consensus, following a fast path execution that completes in a shorter time. Now, with MistiCity, transactions involving shared objects, such as those in marketplaces or collaborative game assets, are processed using an optimized version of BFT consensus that results in lower latencies nearly akin to those of owned object transactions. MistiCity minimizes cross-validator communication and fully utilizes network bandwidth to maintain high throughput. Live on Testnet for the past three months, Misti CDI's remarkable results including an 80% reduction in latency, generated significant buzz within SUI's developer community

Starting point is 00:02:01 and a broad desire to see the update pushed to mainnet. With the update now live, the SUI network can handle tens of thousands of transactions per second with end-to-end latencies well below one second. Greater than. Mysticite's successful deployment is a testament to the collaboration between greater than research and engineering, and the validator community that has integrated this greater than new consensus mechanism, said Dimitri Perelman, head of engineering at Myston Labs. Greater-than, Mr. Cetai is a next-generation consensus protocol that sets a new standard greater-than for blockchain transaction speeds and puts sway at the forefront of our greater-than industry. Greater-than Kevin Nelson, co-founder and CTO of Aftermath Finance, which created a

Starting point is 00:02:43 leading greater-than-defy protocol on the network said, Mistaseed Eye's shift to minimizing latency greater than for the general case, shared object transactions, marks a significant greater-than advancement across many sectors on Sway, particularly within the Sway-DeFi greater-than ecosystem. The rollout to Mainnet has already begun to show tangible results, greater than with noticeable latency reductions across our entire product suite. At Aftermath, we are excited to leverage Mysticity's full capabilities to deliver greater than more efficient, lower latency products to market. Greater than Rabeel Jawade, co-founder of leading derivatives exchange Bluefin said,

Starting point is 00:03:20 greater than, on-chain settlement latency just dropped significantly on Bluefin said, greater than, on chain settlement latency just dropped significantly on Bluefin with the, mysticite upgrade. P50 consensus latency currently is just under 400ms in E2E greater than client latency when measured via a full node is under 1s for P50, which is far greater than as I know is the fastest in Web3 right now, especially at scale with greater than parallelization. With this upgrade, the trading experience on Bluefin has greater than already become more seamless for retail, and our institutional partners have greater than started to scale their flow and liquidity on the platform. Greater than Bonkman, the pseudonymous founder of Hop, a DEX aggregator on Sway said, Hop greater than allows users to interface with Sway Dey. This makes it dependent on Sway's

Starting point is 00:04:05 greater than consensus mechanism and before Mr. Cetai swaps took roughly 2 to 3 seconds. Now, greater than nearly every single swap takes less than 1 second to execute and reach greater than finality. In all of Web3, there has never been a better Defy experience that greater than is present today on Hop via mysticity contact sway foundation media at sway.io tip this story was distributed as a release by chainwire under hacker noon's business blogging program learn more about the program here thank you for listening to this hacker noon story read by artificial intelligence visit hacker noon.com to read write learn and publish

The Good Tech Companies - Sui Sets The Standard For Blockchain Speed With New Mainnet Consensus Mechanism

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