SUI Coin Review: Worth It? Price Predictions & Analysis!!

a new Solana killer has arrived I am of course referring to sui which alongside Aptos has its roots in Facebook's Libra like Aptos sui has raised hundreds of millions of dollars from some of the biggest investors in crypto and its next Generation blockchain recently went live so today I'm going to tell you everything you need to know about sui including where it came from how it

Blackshear George denasis and Costas hulkias all five have seriously impressive resumes and used to work at Novi Financial the company that was building products for Facebook's Libra namely the Novi wallet if you watched our video about Facebook's Libra you'll know that it failed to get off the ground because of intense regulatory scrutiny around the world you'll also know that it rebranded to DM and changed its

Mo to comply with regulations but it didn't work DM was officially shut down in January 2022 obviously suey's Founders saw this coming from a mile away to ensure they could continue their crypto Journey they founded mistan labs in September 2021 a software company based in Palo Alto California per its website mistan Labs is working on both Suey and the move programming language naturally the five Founders

now hold executive positions at mistin Labs Evan is the CEO adeney is the CPO Sam is the CTO George is the chief scientist and Costas is the chief cryptographer from what I've seen Evan has become the de facto face of the company and he has some interesting motivations Evan has apparently been involved in the crypto industry since 2016 though it's not clear how or which projects

He was involved in what is clear is that Evan believes that Bitcoin is digital gold and that he was inspired by ethereum to work in crypto from what I can tell he wants sui to compete with ethereum Evan mentioned in an interview that he wanted to start his own crypto project during the 2017 bull market but was concerned that he wouldn't be able to build a

good team given the skepticism of crypto in Silicon Valley he wanted to work on Facebook's Libra because he thought he could create a team there notably Evan specified that the vision for sui was quote there from the beginning and that sui quote never lost a step when it spun out of Facebook's DM this is significant because it suggests that sui is a continuation of DM and

that's almost exactly what aptos's Founders said about their project more about Aptos in the description now according to crunchbase mistin Labs raised 36 million dollars from Andreessen Horowitz in December 2021 it then raised an additional 300 million dollars from multiple crypto VCS 100 million of which came from FTX other investors included binance labs coinbase and circle the good news is that miston Labs bought back ftx's

stake from the bankruptcy estate in March for slightly less than the initial purchase price the bad news is that this still costs Mr Labs almost 100 million dollars meaning it probably has around 140 million dollars left minus any interim expenses while mistin Labs built the sui blockchain the latter's ongoing development is coordinated by the sui Foundation which was founded in October last year and is based

in the Cayman Islands oddly enough the foundation only appointed a director in April this year the foundation's structure is also unclear in any case sui's main net was launched on the 3rd of May after only a year of testing this speed was likely due to the fact that most of the work on Suri was already done during the Libra DM years not surprisingly sui was immediately

listed on all the top cryptocurrency exchanges speaking of which if you don't know what those topics changes are then my video in the top right is well worth a watch and if you're curious about the name in Japanese sui means water it's one of the five elements in traditional Japanese philosophy and is associated with qualities like fluidity adaptability and Purity who doesn't want their blockchain to

be fluid adaptable and uh pure right this explains why the Project's logo is a water droplet and will also explain some of the terminology we'll encounter later on so how does Suri work the Suri blockchain uses a delegated proof-of-stake consensus mechanism that's capable of processing 300 000 transactions per second however Evan and adeni explained in an interview last year that sui will initially have limited throughput

unfortunately it's not clear what sui's current TPS is fortunately it's clear that sui is very fast and this is for a few reasons firstly the blockchain only has 100 validators this makes it pretty centralized compared to most other cryptocurrencies the trade-off is that sui is significantly faster and more secure than most cryptocurrencies per the blockchain trilemma secondly series validator nodes do not store the blockchain's full

transaction history just the state this makes it easier for them to process transactions Siri's documentation notes that the full nodes store the full transaction history currently has around 2 000 full nodes this adds to its decentralization Third only complex transactions require consensus simple transactions do not require consensus and are processed in parallel a technology called narwhal ensures that pending transactions requiring consensus are quickly identified and

a technology called bull shark ensures they're processed in order remember water now this is all made possible by the fact that the sui blockchain orders itself around objects AKA tokens instead of accounts AKA crypto wallets for context most smart contract cryptocurrencies such as ethereum are account based they keep track of what accounts are doing balances transactions Etc by contrast the sui blockchain keeps track of what

objects are doing this is a small but significant difference because it means that you don't need to interact with a smart contract every time you move an object like an nft or token this reduces transaction fees and increases transaction speeds Evan has gone as far as arguing that object orientation is the only way you can truly own your on-chain assets account orientation means that your on-chain

assets are technically locked in smart contracts object orientation basically takes a token like usdt out of its smart contract and puts it into your wallet now Suri's object orientation is in turn made possible by its move programming language for reference move is a new programming language created by DMS developers in fact move was invented by sui co-founder Sam now Siri uses a modified version of move

called sui move which includes object orientation this is important to note because of the developer landscape Aptos also uses move and flow uses Cadence also a modified version of move move itself is based on Rust which is used by Solana polkadot and near protocol as such you could say sui is a competitor to all of the above at least for developers in terms of tokenomics sui

is the native coin of the Suri blockchain it's used to pay for transaction fees for staking and will be used for governance what's fascinating is that sui uses a storage reward structure similar to our weave which ensures validators are compensated for storing past transactions like are weave's storage endowment suey's storage fund takes a portion of transaction fees aside for future block rewards unlike our weave Suey

takes this portion of transaction fees and Stakes them these extra staking rewards are distributed to validators as needed the initial fee stake is never removed another difference between our Weaver and sui is that users can delete their on-chain data in exchange for a portion of the storage fees they paid suey's documentation notes that the delete option does not include the deletion of past transactions just data

related to things like nft metadata few when it comes to staking staking rewards are currently around eight percent for both validators and delegators sui's documentation notes that validators must have at least 30 million sui staked in their pool to participate thankfully delegation can be easily done with no minimum stake using the Suri wallet Suri's documentation also notes that validators could see their stake and even staking

rewards slashed if they misbehave it's unclear if this punishment applies to delegated Stakes for what it's worth suey's validators were hand-picked by the sui Foundation the unstaking period is also less than a day and this relates to sui's initial distribution sui has a maximum supply of 10 billion which is distributed as follows 20 to early contributors 14 to investors 10 to mistan Labs six percent to

community testers and 50 to the sui Foundation ten percent of the foundation's allocation is being used for extra staking Rewards the vesting schedule for Suri can be seen here note that there will be a massive token unlock in November this year in May next year and in May 2025. this could result in significant cell pressure considering that sui was sold for three cents a pop to

a16z and 10 cents a pop to the other crypto VCS it's also possible that there'll be cell pressure from the regular folks who participated in the Suri token sales on kucoin okx and buy bit given they got it at similar prices luckily Finance CEO CZ prevented Tron founder Justin Sun from gobbling up all the Suri offered by a BNB and TUSD farming on the demand side

meanwhile sui seems to be of interest to institutional investors in the United States this is because it recently partnered with bitco for institutional sui custody this is impressive considering Evan noted in an interview that sui is focused on Asia for adoption and investment so far Suri has managed to secure a partnership with Chinese commercial giant Alibaba specifically its Cloud division as you might have guessed the

partnership will see Alibaba provide node and validator services for the Suri blockchain depending on how this is done it could affect Suri's decentralization so he seems to have had a bit of retail interest as well the sui wallet browser extension has been downloaded over 1 million times and there are almost 200 dapps on its blockchain already what's strange is this is inconsistent with suey's blockchain data

which says there are only 400k wallets despite the apparent interest in Suri its price has so far failed to perform in series defense the project is brand new and launched in the middle of a crypto bear Market Asia Focus could also pump the price once Hong Kong introduces its crypto regulations for retail investors on the 1st of June more about that in the description now as

with all crypto projects whether sui reaches its full price potential ultimately depends on its roadmap although sui doesn't appear to have an official roadmap binance researches article on the project contains a few milestones and many more can be found in interviews with the founders the binance research roadmap notes that sui will be introducing zero knowledge proof logins sometime this quarter presumably for on-chain privacy protection milestones

for Q3 and Q4 include the creation of new node types improving the move developer experience and better storage pricing economics on that note mistin labs's Chief Economist revealed in a September interview that sui is focused on blockchain storage they are hyper aware that having a blockchain as fast as suis is going to result in lots of storage demand hence the plans for archival nodes and improved

storage economics he also revealed that he had attended a conference hosted by usdc issuer Circle and later discussed the topic of stable coins in suey's ecosystem now call me crazy but I think that sui might be trying to attract usdc to its blockchain this would make sense considering it would result in a lot more on-chain liquidity sui also seems to be super focused on gaming in

an interview with decrypt mistin labs's head of gaming Partnerships revealed that over 40 blockchain games are already building on Suri Evan also said in his aforementioned interview that sui was super focused on mobile games in Asia and just a few days ago the sui Foundation announced the introduction of sui Improvement proposals or sips allowing the community to propose future milestones for the project no sips have

been passed at the time of shooting but there are already some discussions about an Unchained governance structure besides that Suri seems to be focused on building out its ecosystem via the sui Foundation the foundation has been doing this by issuing developer grants as well as academic research grants the foundation is also trying to expand its ambassador program which only seems to have three people regardless it's

possible that the foundation will soon be publishing an updated roadmap then again it's also possible that the foundation and mistan Labs don't want to do or say anything that would classify the sui coin as a security in the eyes of U.S Regulators like the SEC case in point sui has yet to list on U.S exchanges despite being comparatively similar to Aptos which has been listed by

coinbase this is a double-edged sword in that it has limited the inflows into Siri but also serves as a milestone for existing sui holders to look forward to U.S exchange listings are bullish right now all that matters is that sui has enough Runway to survive what's left off the bear Market Evan confirmed back in December that it does and Asia's upcoming Embrace of crypto should further

extend this Runway however surviving doesn't mean succeeding and sui faces lots of barriers to success which brings us to the concerns we have about Siri firstly it looks as if the project was rushed probably because it's openly competing with Aptos whether it's the sui Foundation setup or even just the sui website it really seems like everything was just slapped together as quickly as possible this could

be explained by the fact that sui hasn't been as focused on marketing and presentation as other crypto projects this is something that ever noted in an interview and it makes sense considering that all five Founders are hardcore developers chances are they don't know all that much about marketing speaking of which our second concern is competition as I mentioned earlier sui faces lots of competition from a

long list of crypto projects including Aptos Solana and near protocol while sui seems to be targeting blockchain gaming it doesn't have a primary point of focus and that's a problem to their credit the Suri team is slowly but surely becoming aware of the fact that sui needs to carve out its own Niche if it wants to thrive I hope the Project's Mission will be something other

than quote onboarding the next billion users because otherwise it will just be yet another layer 1. this ties into our third concern and that is adoption you'll recall that there are only around half a million Wallets on the Suri blockchain this is understandable given how new the project is but low transaction volume and total value lock statistics underscore the fact that sui is not being used

all that much again this should improve as Asian countries like Hong Kong introduce sensible crypto regulations the problem is there's no guarantee that retail investors will be allowed to invest in Surrey focusing on Asia is also inconsistent with Libra AKA DM's initial target audience of the US and the West and this pertains to our fourth and final concern and that is regulation the fact that sui

is a de facto continuation of Facebook's DM under a different name means it's likely to face regulatory scrutiny consider that the regulatory pushback against crypto began when Libra was first revealed in 2019. since that time governments around the world have been terrified that a big tech company will develop a digital currency that will compete with their National currencies usdc onsui will look eerily similar to Libra

and that will raise red flags sui partnering with big tech companies would have the same effect and Suri's relationship with Libra could also make it difficult for its coin to list on U.S exchanges I can also Imagine That U.S exchanges are hesitant to list any crypto project in general these days therefore it is possible that sui won't be accessible to U.S investors until further guidance on

regulations is given more about the U.S crypto Crackdown in the description and that is our deep dive into sui for you folks all in all I think this crypto project has serious potential but it's honestly too soon to say there's no question that its technology is Cutting Edge but its adoption has been questionable even by bear Market standards heck its YouTube channel has fewer than 4K

Subs as the saying goes though if you build it they will come and the sui team has been building non-stop mistin Labs has some of the most impressive Personnel I've ever seen I'm confident that suey's adoption will improve as more meaningful Milestones are met and the bull market will create a multiplier effect sui could very easily become one of the top performing cryptocurrencies in the next

cycle and you can rest assured that I'll be keeping a close eye on it I may even add it to my crypto portfolio in the coming months but you'll have to subscribe to My Weekly Newsletter to find out link is in the description now it's been a while since we last did one of these reviews and I hope you enjoyed it we are planning to start

doing more in the near future so keep an eye out for some exciting developments here at coin Bureau in the coming months anyways if you enjoyed the video smash that like button to let me know be sure to subscribe to the channel and ping that notification bell too so you don't miss the next one and if you happen to be looking for a hardware wallet or

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