Yes, that's correct! Let me explain these concepts in detail:

Owned Objects

Owned objects in Sui are digital assets that belong to a single user or address. I find them particularly useful because:

• They can be transferred and modified without requiring global consensus 20:0
• Transactions involving owned objects benefit from very low latency to finality
• The owner has exclusive control over the object's behavior and permissions
• They're perfect for personal assets like NFTs and fungible tokens 21:1

Shared Objects

Shared objects, on the other hand, are designed for collaborative use. I appreciate that they:

• Can be accessed and modified by multiple users or applications
• Require consensus to sequence reads and writes to ensure consistency
• Are ideal for shared resources, marketplaces, and escrows 22:3
• Enable complex multi-party interactions while maintaining security

The key difference between these object types lies in their accessibility and update requirements. While owned objects can be modified quickly by their single owner, shared objects require consensus to ensure that all users see the same state and that updates are properly sequenced. This trade-off between speed and coordination makes each type suitable for different use cases.

In Sui, you interact with two main types of objects: owned and shared. An owned object belongs to a single address, meaning only the owner can modify or transfer it, making it ideal for tokens, NFTs, or personal assets. On the other hand, a shared object can be accessed and modified by multiple users or transactions simultaneously, which is useful for apps like marketplaces, games, or DeFi protocols that need shared state. Sui’s execution model handles these efficiently—owned objects execute in parallel for speed, while shared objects require consensus for consistency