Grand Cayman, Cayman Islands, April 18, 2024, Chainwire
The annual event is the culmination of Sui’s exceptional debut
More than 1,000 projects, partners, investors and enthusiasts from 65 countries around the world gathered in Paris last week to celebrate Sui at Layer 1’s first global Sui Basecamp conference.
At the first-ever annual event held during Paris Blockchain Week, Sui was celebrated by developers and builders from around the world during a two-day event. Speakers at Sui Basecamp covered all aspects of the industry, from payments to gaming to e-commerce and Major League sports, providing commentary in keynotes, panels and fireside chats.
The event was interrupted by three major announcements. In collaboration with Playtron, the Sui team announced this the SuiPlay0x1, the world’s first lightweight portable gaming device designed with native Web3 capabilities and promising new gaming experiences. Additionally, First Digital Labs joined in an announcement that FDUSD, the fastest growing stablecoin in crypto, will be the first native dollar-backed stablecoin on Sui, a boon to Sui’s DeFi ecosystem, which is already the fastest growing in the industry . Finally, Sui announced Enoki, a suite of Web3 tools that will make it very easy for companies to use decentralized solutions in their applications, products and services.
Sui Basecamp participants from 65 countries had the opportunity to meet each other in person.
“When building Sui, we started with a blank canvas, with the goal of creating the leading platform for decentralized applications without the structural limitations we saw in other blockchains,” said Evan Cheng, co-founder and CEO of Mysten Labs, originator from the Sui Network. . “Less than a year after the launch of Sui’s mainnet, the remarkable strength of Sui’s performance has validated the approach. From virtually unlimited horizontal scalability to industry-leading execution speed to achieving the most transactions in a single day of any blockchain, Sui’s performance has been exceptional and the network has only scratched the surface.”
The industry veterans who founded Sui launched their mainnet almost a year ago with great expectations, and the network has performed exceptionally well. Instead of cloning an existing network, the Sui team started from scratch by building an entirely new infrastructure layer that addressed the shortcomings of existing blockchains. They started by creating Move, a new smart contract language, and additionally created a new architecture around objects that enable performance and functionality that simply isn’t available on existing blockchains. The result is a blockchain that is unique in the industry: the universal coordination layer for intelligent assets.
Sui is the market leader with lightning-fast transactions, where the time to finality is only 400 milliseconds. Likewise, Sui’s scalability is also at its peak, reaching 297,000 TPS in a controlled environment. But the Sui team is also constantly improving its technology. At the conference, members of the Sui team unveiled the next advancement in speed and scalability in the form of Mysticeti, which significantly accelerates Sui’s time to finality, and Pilotfish, which enables virtually unlimited horizontal scaling by validators.
And beyond performing in test environments, at just four months old, Sui broke the record for transactions executed in a single day, achieving a higher mark than any existing blockchain, while keeping fees low and stable. Remarkably, Sui has not experienced a single minute of downtime in almost a year of existence.
Gradually, after a series of community events around the world, media stories began to highlight Sui’s remarkable early milestones, the continued growth of the ecosystem, and multiple stories of builders eschewing other blockchains to leverage the Sui Network. the potential for Sui’s groundbreaking blockchain technology. The crowd that gathered for Sui Basecamp 2024 was the highlight of Sui’s arrival.
“The overwhelming turnout and vibrant enthusiasm at the first Sui Basecamp event reflect a Sui community fascinated by Sui’s potential to improve people’s lives,” said Greg Siourounis, chief executive of the Sui Foundation. “In the coming months, the Sui Foundation will continue to focus on expanding the ecosystem of projects using Sui and the number of users benefiting from these applications as we work to make Sui one of the most widely used blockchains to solve challenges in the real world. With cutting-edge technology and the most dedicated and professional web3 community behind it, Sui’s progress to date is just a glimpse of what this network will achieve.”
Users can read more about the event on the Sui blog.
Contact
Sui Foundation
media@sui.io