The Good Tech Companies - Sui Turns One: Debut Year Of Growth and Tech Breakthroughs Puts Sui At Forefront Of Web3

Episode Date: May 3, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/sui-turns-one-debut-year-of-growth-and-tech-breakthroughs-puts-sui-at-forefront-of-web3. In the build-up to its launch in 2023, the chatter around Sui reached a level of excitement that has not been matched by any chain that has launched since. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #sui, #chainwire, #press-release, #sui-announcement, #layer1-blockchain, #programming, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Sway turns 1. Debut year of growth in tech breakthroughs put Sway at forefront of Web3 by Chainwire. Grand Cayman, Cayman Islands, May 3, 2024, Chainwire, protocol launches, growth trajectory, and industry-leading technology point toward more success to come. On the first anniversary of Sway's main at launch, the Sway community is calibrating a landmark year that saw it rise from a nascent ecosystem to the top TA of layer 1 blockchains, amassing household name partners and shipping multiple technology breakthroughs in the process. In the buildup to its launch in 2023, the chatter

around Sway reached a level of excitement that has not been matched by any chain that has launched since. The first anniversary of Sway represents a culmination of the remarkable milestones achieved by the network in its first year. While centralized institutions face growing public distrust due to decades of anti-competitive and anti-consumer behavior and legacy blockchains lack the speed and technology to solve the problem, in a single year, Sway has emerged as the decentralized solution most capable of disrupting the status quo at scale. The innovations of Sway begin with Sway's novel programming language, Move, which was created by Meisten Labs co-founder and CTO Sam Blackshear. Move introduced a new architecture centered around objects, enabling performance and functionality that was simply not available on existing blockchains. The result is a blockchain that

is singular in the industry, the universal coordination layer for intelligent assets. Greater than, like many transformative innovations before us, we knew the problem we had to greater than solve and built the technology to solve it without applying labels, but a year greater than after launch, it is clear that Sway is a vibrant developer ecosystem, said greater than Evan Cheng, co-founder and CEO of Meiston Labs. Greater than, developers are taking advantage of Sway's performance, and its scalable, greater than composable, on-chain storage, and native accessibility features to build greater than sustainable business models with a consumer ownership-first approach. While greater thanthan-the-networks achievements to date

are remarkable, the road to onboarding the greater-than-next-billion users to Web3 has just started. Technology IN Novation's the results Sway has achieved have validated the team's approach. In addition, Tonnet experiencing a single minute of downtime or instance of degraded performance since mainnet launch, in the last 12 months, Sway has achieved lightning-fast transaction speeds. Time to finality clocked at just 400 milliseconds. Massive scale, 297,000 peak TPS in a controlled environment. Record-setting mainnet performance, 65.8M transactions executed in a single day, the most of any blockchain ever. Extremely low fees, predictable, stable transaction fees even during high usage. Yet technology improvements are a constant at Sway. In recent weeks, including Audit's first

global in-person conference, Sway Basecamp, Sway unveiled Mysticity, which significantly shortens Sway's end-to-end time to finality, and Pilotfish, which enables nearly unlimited horizontal scaling by enabling individual validators to use multiple machines to extend their capacity. Sway has also introduced unique implementations of technologies that make adoption easier and make the blockchain accessible to mainstream users, both at the enterprise and retail levels. ZK Login is on-chain authorization with traditional OAuth providers like Google and Twitter, allowing all users to directly operate on-chain with the single sign-on process they have become accustomed to, removing the hurdle of managing wallet addresses and seedphrases. ZK Send is an application exclusive to Sway that utilizes ZK Log login to enable users to send and claim tokens simply by sharing or clicking a link.

Sponsor transactions, enabled by Sway's extremely low fees, empower builders to remove a final hurdle for engagement. Finally, Anoki, which was announced at Sway Base Camp, removes requirements for enterprises looking to incorporate blockchain technology with a turnkey solution that gives them access to build seamlessly on Sway. The rate at which the ecosystem's deep and talented developer community haship powerful protocols and industry-first technology breakthroughs has been breathtaking, and it's only a year in, said Adeni Abiodun, co-founder and CPO at Meisten Labs. Sway's purpose is to redefine how individuals and businesses collaborate to create grow and share value in a digital first economy and since its main at launch sway has demonstrated important and unique capabilities in that regard network momentum sway is a destination for defy

gaming and commerce also owing to the strength of the network and especially notable for aniko system so early in its development sway has quickly become one of the preeminent destinations for DeFi activity. Within nine months of its mainnetelaunch, Sway ranked in the top 10 of all blockchains in TVL. A month later, Suizdex Volume also achieved top 10 status. Throughout, Wernhole stats show Sway as a top destination for bridging from Ethereum, including over a 30-day period where Sway saw more inflows than all other blockchains combined, and more than twice as much as the next closest blockchain.

In each of these cases, Sway eclipsed numerous well-known networks that have existed for far longer. Builders and enterprises integrating with Sway are also adding to the growing momentum. Bluefin, a derivatives exchange that had already executed billions in transaction volume in its first iteration on another chain, shut that integration down to build on Sway. Soland, a leading lending protocol on Solana, chose Sway for its first integration beyond its initial network, launching the Swayland protocol which has already amassed over 30 million dollars tvl additionally first digital labs creator of fd usd the fastest growing stable coin in crypto with over 4 billion dollars in

market cap chose sway for its first expansion since its launch on ethereum and bnb greater than as we mark the first anniversary of sway's launch the growth and innovation greater than within the sway ecosystem have been sensational andway has quickly ascended to greater than the forefront of layer-one blockchains, said Greg Sourounis, managing director greater than of the Sway Foundation. Sway's global footprint has continued to expand at a greater than remarkable rate as more and more builders see Sway as the best platform for greater than enabling real-world solutions aimed at addressing the world's most pressing greater-than challenges. Gaming is another focus for Sway that will continue in the coming months and years. With low, predictable fees that allow game developers to

build with confidence and dynamic objects that make games built on Sway more expressive, Sui is the optimal blockchain for gaming studios. Dozens of development teams are currently building games on Sway, including established studios such as NHN, Pebble City, ONBUFFXSNK, Samurai Showdown, NDUS Interactive, Shosayati, Orange Comet, The Walking Dead, Lands, and Ambrose Studio, E4C, Final Salvation. Leading professional esports team, Team Liquid, will leverage Sway for their launch of its fan loyalty program, and at Sway Basecamp in April, Sway joined gaming infrastructure developer Playtron in announcing Sway Play 0x1, the first handheld gaming device with native blockchain capabilities to wide acclaim. Other notable ecosystem partnerships achieved in Sway's first year include those with

Alibaba Cloud and Google Cloud, which focused on enhancing security, scalability, developer tools and user experiences across a range of Web3.0-ondi-powered applications, BytePlus, the Web3 arm of ByteDance, partnered with Sway ecosystem partner Myston Labs to explore collaboration on data warehousing, AI recommendation algorithms, and AI visual algorithms in Web3 game platforms and social FI projects on Sway. The crowds that gathered for Sway Basecamp 2024 represented the culmination of Sway's arrival, as over 1,000 projects, partners, investors and enthusiasts from 65 countries around the world came to Paris in April to celebrate Sway at the vaunted Layer 1's inaugural global conference. Contact Sway Foundation Media

at Sway.io. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. And thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.