Sui was developed by Mysten Labs and launched with a focus on scalability, low latency, and programmability. Unlike traditional blockchains that rely on global ordering of all transactions, Sui introduces a novel object-centric data model. This model allows parallel execution of transactions, making it suitable for web3 gaming, decentralized finance (DeFi), NFTs, and other high-performance dApps.

Key Highlights:

Layer-1 Blockchain: Built from the ground up with horizontal scalability in mind.

Move Programming Language: A secure and expressive language for writing smart contracts.

Fast Finality: Transactions can finalize in sub-second times when consensus is not required.

Ownership-Centric Model: Each piece of data is an object, enabling a simpler mental model for asset tracking.