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The emergence of blockchain technology has transformed the concept of data transparency, introducing an unparalleled level of openness in financial systems. This groundbreaking development has sparked widespread speculation about blockchains potential to establish a new benchmark for transparency. Through the utilisation of a block explorer, network participants gain the ability to explore and retrieve information pertaining to the assets and transactions linked to public addresses within the blockchain.

In the realm of cybersecurity, this transparency enables decentralised threat data to be readily available. While some argue that comprehensive analyses and reports provide sufficient confidence in the performance of security solutions, there is a potential for bias since these reports are often commissioned and paid for by the companies themselves. However, with blockchain, the inherent transparency eliminates such biases, ensuring a more impartial and trustworthy system. Let us shed some light on the blockchain transparency of three cryptos: Bitcoin (BTC), Cardano (ADA) and the new meme coin on the scene DogeMiyagi (MIYAGI).

Bitcoin (BTC) stands out with its unmatched level of transparency, which may be unfamiliar territory for many individuals. Every transaction conducted with Bitcoin is publicly visible, traceable, and permanently documented within the Bitcoin network.Bitcoin addresses serve as the sole information used to identify the allocation and destination of Bitcoins. These addresses are generated privately by users wallets; once an address is utilised, it becomes linked to the transaction history it has been involved in.

Consequently, anyone can view the balance and transaction details of any given address. Since users typically need to disclose their identity to receive services or goods, Bitcoin addresses cannot provide complete anonymity. It is important to note that while something may not be currently traceable within the blockchain, its traceability could potentially be established in the future due to the immutability of the blockchain.

While the Cardano blockchain ensures public visibility of transactions and addresses, it incorporates privacy-enhancing features through its smart contract platform, Plutus. By leveraging Plutus, users can implement privacy-preserving smart contracts, enabling secure transactions while safeguarding sensitive information.

Cardanos unique approach to transparency and privacy grants users greater control over their data. By integrating privacy features, Cardano aims to protect sensitive information while upholding the advantages of transparency. Users have the flexibility to engage in public transactions or utilise privacy-preserving mechanisms, offering an optimal balance between privacy and security.

The emphasis on privacy and transparency in Cardano fosters user trust and fortifies the networks overall resilience. Users can rely on the blockchains integrity while having the freedom to safeguard their privacy when required. This equilibrium between transparency and privacy strengthens the Cardano ecosystem, enhancing its credibility and appeal to individuals and enterprises alike.

DogeMiyagi (MIYAGI), a rising altcoin in the cryptocurrency market, has gained significant popularity due to its unique blend of martial arts inspiration, community unity, and transparency. Built on the Ethereum blockchain, this decentralised cryptocurrency aims to provide a secure and transparent investment option for traders.

DogeMiyagi has emerged as a popular option among traders due to its strong emphasis on security and speed. The platform leverages the reliable Proof-of-Stake (POS) mechanism to safeguard user data and funds, instilling confidence in investors regarding the safety of their assets. With this robust security measure in place, traders can trade with peace of mind knowing that their investments are well-protected.

In addition to security, DogeMiyagi offers impressive transaction speeds. The efficient POS mechanism allows for swift payment processing, enabling users to conduct transactions quickly and smoothly. This combination of security, speed, and a playful dog-themed concept has contributed to the growing popularity of DogeMiyagi as a favoured meme coin among investors.

DogeMiyagi:

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

DISCLAIMER: The financial and crypto market information provided on NewsWatchTV.com is intended for informational purposes only and should not be construed as investment advice. Readers are encouraged to conduct their own thorough research and consult with financial experts before making any investment decisions. By choosing to continue reading hereinafter, you acknowledge and expressly undertake/guarantee that NewsWatchTV.com shall be absolved from any and all potential legal action or enforceable claims arising from the information presented.

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Blockchain Transparency in Bitcoin, Cardano and DogeMiyagi - NewsWatch

Bitcoin Gold has unique features that make it an intriguing platform for smart contract applications. In this article, we delve into the exciting world of Bitcoin Gold and its potential synergy with smart contracts. Try Immediate Fortune if you really want considerable profits from this market in a short time.

One of the main advantages of integrating smart contracts on the Bitcoin Gold network is the enhanced security it offers. Bitcoin Gold utilizes the Equihash algorithm, which is resistant to specialized mining hardware known as ASICs. This characteristic ensures a more decentralized mining process and reduces the risk of centralization, enhancing the security of smart contracts executed on the network.

Additionally, Bitcoin Gold's robust and well-established infrastructure provides a solid foundation for the implementation of smart contracts. Its active and dedicated developer community continually works to improve the platform and expand its capabilities. Leveraging this existing infrastructure, and integrating smart contracts becomes a natural progression, enabling developers to leverage the security and reliability of Bitcoin Gold while exploring new possibilities.

Another crucial aspect to consider is the potential for interoperability between Bitcoin Gold and other blockchain networks. Cross-chain interoperability allows smart contracts executed on Bitcoin Gold to interact with other blockchain platforms, enabling a seamless exchange of assets and data. This interoperability can open up a wide range of applications, including decentralized finance (DeFi) protocols, decentralized exchanges, and cross-border transactions.

Furthermore, integrating smart contracts on the Bitcoin Gold network can unlock opportunities for the tokenization of real-world assets. By creating digital representations of physical assets, such as real estate or commodities, on the Bitcoin Gold blockchain, these assets can be easily traded, fractionalized, and managed in a transparent and secure manner.

However, it is important to acknowledge that implementing smart contracts on Bitcoin Gold also comes with certain challenges. Bitcoin Gold's primary focus has been on being a store of value and a medium of exchange, rather than a smart contract platform. As a result, modifications and upgrades to the Bitcoin Gold protocol may be necessary to fully support the complexities of smart contract execution.

One crucial aspect is the development of a specialized programming language and development framework for smart contracts on Bitcoin Gold. Ethereum, for example, uses Solidity as its primary programming language. Similarly, Bitcoin Gold would require a language specifically designed for writing smart contracts that can run on its network. This language should be user-friendly, secure, and efficient to facilitate the widespread adoption and development of smart contracts on the platform.

Additionally, the availability of development tools and documentation plays a vital role in enabling developers to create, deploy, and test smart contracts on Bitcoin Gold. A comprehensive development toolkit, including integrated development environments (IDEs), debugging tools, and deployment frameworks, would simplify the process and attract more developers to build on the platform. Clear and extensive documentation, along with code examples and tutorials, would further enhance the accessibility and understanding of smart contract development on Bitcoin Gold.

Interoperability with other blockchain networks is another critical consideration. Smart contracts executed on Bitcoin Gold should be able to interact seamlessly with contracts and protocols on other blockchain platforms. This requires the establishment of standardized communication protocols and cross-chain bridges that enable the transfer of assets, data, and instructions between different blockchain networks. Interoperability opens up opportunities for cross-chain decentralized applications (DApps) and broader ecosystem integration.

Scalability is a fundamental concern when it comes to executing smart contracts on any blockchain network, including Bitcoin Gold. As smart contracts typically involve multiple computations and interactions, the network must handle a significant number of transactions simultaneously. To address scalability challenges, Bitcoin Gold may need to implement solutions like layer-two scaling techniques, such as state channels or sidechains, which can offload some of the computational burdens from the main chain while maintaining security and decentralization.

Another critical aspect is security. Smart contracts are subject to vulnerabilities, such as coding errors or malicious attacks, which can result in financial losses or exploitation of the network. Bitcoin Gold should prioritize security measures, including rigorous auditing, testing frameworks, and best practices for secure smart contract development. Implementing formal verification methods, which mathematically prove the correctness of smart contract code, can further enhance security and mitigate potential risks.

Integrating smart contracts onto the Bitcoin Gold network presents a promising frontier for blockchain technology. With enhanced security, existing infrastructure, interoperability, and potential for asset tokenization, Bitcoin Gold offers unique possibilities for decentralized applications. While technical considerations and challenges exist, exploring smart contracts on Bitcoin Gold can shape a future where programmable money and innovative applications thrive.

(Disclaimer: Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)

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Unraveling the Potential of Smart Contracts in Bitcoin Gold - Devdiscourse

The Bitcoin blockchain is a complex system of varying protocols. Two protocols, Stacks and Ordinals, are often mistaken for one another or lumped in as the same thing. However, there are some key differences between Stacks and Ordinals that you should be aware of.

Smart contracts are a key component of decentralized finance (DeFi). These programs can automatically execute an agreement so long as a specific set of pre-written conditions are fulfilled. Smart contracts remove the need for third parties or intermediaries and add to DeFi's trustless model.

Smart contracts began on Ethereum but have since been adopted by many other blockchains, including Solana, Stellar, and Waves. And now, even the crypto industry's biggest player, Bitcoin, has delved into this useful technology through Stacks.

Stacks (formerly known as Blockstack) is a Layer-2 solution implemented on the Bitcoin blockchain in 2018. Since then, it has undergone its second mainnet launch, giving way to the Stacks we know today.

Stacks is linked to the Bitcoin blockchain via its proof of work consensus mechanism. While Ethereum is often known as the prime place for using smart contracts, Stacks brings a similar capability to Bitcoin.

The official Stacks whitepaper states it "enables smart contracts and decentralized applications to trustlessly use Bitcoin as an asset and settle transactions on the blockchain." Put simply; Stacks lets you use smart contracts and decentralized applications (DApps), features that were not previously present on the Bitcoin blockchain.

Many DeFi applications, such as automatic market makers (MMs) and liquidity pools, need smart contracts to function. So, without such capabilities, Bitcoin remains very limited in what it can offer. With Stacks, and therefore smart contracts, many doors are opened.

While Stacks is a Bitcoin Layer-2 solution, it does not use the proof of work mechanism. Rather, it uses something known as proof of transfer. Proof of transfer is a modified version of proof of burn. By burning their STX tokens (which we'll discuss later), miners can mine on the Stacks blockchain.

The Stacks whitepaper also reveals that the name "Stacks" is an acronym. Here's what each letter stands for:

As you can see, the Stacks solution focuses on several elements, including security, scalability, and trust. The protocol's Clarity smart contracts protects users from bugs and exploits.

Stacks does not allow the creation of Bitcoin-based NFTs, as it is a Layer-2 solution. However, its smart contract abilities can be used in NFT trades. Stacks also has its own NFT marketplace, wherein all products are priced with STX.

The Stacks protocol also comes with its own crypto asset, STX. We briefly mentioned this crypto previously, but it's important to understand its purpose and functionality within the Stacks ecosystem.

STX is used to pay network fees, conduct payments within Stacks-based DApps, and reward miners for securing the blockchain.

The Stacks protocol has its own network of important contributors, including miners. Miners must burn their STX tokens to mine via the proof of transfer mechanism. However, for a Stacks block to be mined, a Bitcoin transaction must first take place on the original blockchain. For each Stacks block, there must be a Bitcoin block it is linked to.

Throughout early and mid-2023, Bitcoin Ordinals became a very hot crypto topic.

Many choose Ethereum over Bitcoin simply because the former blockchain offers so much more. Ethereum has long since been known as the prime blockchain for NFT creation, minting, and sales, whereas the Bitcoin blockchain serves as the ledger used for Bitcoin transactions. In short, Bitcoin wasn't very versatile.

However, many Bitcoin enthusiasts have been eager to tackle this versatility issue with some useful blockchain solutions, including Stacks and Ordinals. We already know what Stacks is, but Ordinals brings a whole new element to the game: Bitcoin NFTs.

The Bitcoin Ordinals protocol launched in January 2023. This is a Layer-1 protocol used for numbering satoshis. Like Stacks, Ordinals gives the Bitcoin blockchain extra capabilities, but the two are not one and the same.

Bitcoin NFTs, or Bitcoin Ordinals, are made using satoshis. Satoshis are tiny fractions of single BTC coins, with one Bitcoin containing 100,000,000 satoshis. Though minuscule, satoshis can transfer data, which can then be tracked.

This is done by inscribing data onto the satoshi, a process made possible by the Ordinals protocol. By attaching extra data to an individual satoshi, such as comments or messages, a non-fungible token (NFT) is effectively made. For instance, a satoshi could be inscribed with information on a digital file's location, making it an NFT.

However, because the Bitcoin blockchain does not use smart contracts, neither do Ordinals. This separates Bitcoin NFTs and other well-known NFT-capable blockchains like Ethereum, Solana, and Cardano.

Though Ordinals is a 2023 phenomenon, it was made possible via the 2021 Bitcoin Taproot update, which enabled satoshi inscription.

It's easy to confuse Stacks and Ordinals due to their similarities, but both protocols have different applications. So, when should you use either of these Bitcoin solutions?

If you want to utilize smart contracts using Bitcoin, Stacks is your solution.

Say, for example, you want to create, mint, or trade Stacks-based NFTs or secure your NFTs using Bitcoin's protection. Via the Stacks protocol, this is all possible. Additionally, you can use Stacks to create decentralized apps, which isn't directly possible on the Bitcoin blockchain.

If, on the other hand, you want to create or trade Bitcoin-based NFTs, the Ordinals protocol will serve you well. Because Ordinals is a Layer-1 solution rather than Layer-2, it allows for the generation of non-fungible tokens directly on the Bitcoin blockchain, not a separate chain like Stacks.

Though Stacks and Ordinals have different natures and purposes, it is undeniable that both solutions offer their own great perks. If you love Bitcoin but also want to reap the benefits of DeFi and all its versatility, both of these protocols may serve you well.

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Bitcoin Stacks vs. Ordinals: What's the Difference? - MUO - MakeUseOf

(Kitco News) - Astar Network, a layer-one smart contract blockchain platform in the Polkadot ecosystem, announced the start of its Astar 2.0 Vision rollout earlier this week as part of its mission to help drive the mainstream adoption of blockchain technology and Web3.

Astar 2.0 focuses on getting us ready to deliver web3 to billions and further decentralizing Astar, the company said in its announcement. 2.0 describes the future iteration of our network, as well as shows the direction were headed towards.

Kitco Crypto sat down with Astar Network founder Sota Watanabe at the Consensus Conference in April to learn more about the project and their plans for the future.

Astar has a global team of developers spread across 20 different countries, but Sota, who is Japanese, said the team is heavily focused on building out their presence in Japan.

We see a lot of opportunity in Japan," he said. "We have been working with Toyota, Sony, and other agencies to develop their use cases. The Japanese government made Web3 a national strategy, and I think almost all people think Astar is the leading project in Japan, so I would like the make the most of the opportunity.

Sota specifically highlighted the platform's work with Sony, which is the largest company Astar has collaborated with and which he believes has a promising future in Web3. They have music, movies, gaming, even car bunking," he said. "So I would like to onboard Sony to Web3 through Astar.

Astar and Sony have already begun to collaborate on multiple projects, and Sota is looking to deepen the relationship between the two in the months ahead.

We started an incubation program with Sony and are incubating 19 different projects right now. They are going to be launched in the coming months, he said.

According to the Astar website, the incubation period for the collaboration with Sony runs from mid-March to June 18, and the Demo Day is scheduled to take place on June 18.

Demo Day will be held in June at Sony Group Corporation Headquarters in Tokyo during Japan Blockchain, the website says. About 200 people, including companies and investors participating in the incubation program, will attend.

Sota said that they received more than 200 applications for the incubation program in less than two weeks.

Astar and Polkadot

Astar is currently the leading parachain in the Polkadot ecosystem, Sota said.

Parachains can serve a variety of functions, such as serving as a smart contract platform, DeFi application, decentralized identity provider, or as a non-fungible token platform. Thanks to the underlying structure that the Polkadot relay chain provides, parachains can specialize in offering one service.

The main limitation of the Polkadot relay chain, which is considered a layer 0 blockchain, is that it does not support smart contracts. This is what motivated Sota to develop Astar to bring smart contract capabilities to Polkadot.

We have two types of smart contracts, Ethereum native smart contracts and protocol native smart contracts, Sota said. Astar is the only platform that provides not only Ethereum smart contracts but also native smart contracts.

Astar has also added a bridge to the Cosmos network, he said. We would like to connect our blockchain to other ecosystems as well. Since Polkadot is not strictly Ethereum compatible, we are also compatible with networks like Near and Solana. Recently, the top NFT marketplace on Near [Paras] elected to deploy on Astar.

We would like to attract big projects from Ethereum, Solana, and so on, he said. And another narrative is that we are backed by Japan, so we would like to see a Japanese CBDC launched on Astar so that we can help create a lot of real use cases together."

Astar and the Japanese government

Sota said the Japanese government is being quite aggressive in the space because they see blockchain as an opportunity.

Japan used to be number one in terms of cars, electric goods, let's say 30 years ago. A lot of Japanese companies ranked toward the top in terms of valuation, he said. But right now, the biggest company in Japan is Toyota, which ranks near 50th.

We completely missed Web2, he said. We do not have a Tencent or Alibaba. We dont have a Line as they do in Korea. So we completely missed the opportunity. And thats why our economy is not growing. Web3 is the new opportunity, and they would like to invest a lot of money and resources on Web3 because if they miss it, we are probably going to see another 20 losing years.

Sota noted that while Japanese companies were good at developing products for Web2 platforms, the real money is in the platforms, which they did not succeed in building.

Platforms create a lot of money and value, so Web3 is going to be the same. If we miss building a platform, all we will have is small projects on top of other platforms, he said.

This is why he created Astar to be a layer-one smart contract platform, and why the Japanese government is endorsing the platform, even if they cannot officially push people to adopt it.

Blockchain interoperability and future plans

On the topic of why Sota selected Polkadot as the base chain for Astar, Sota said its ability to connect with other blockchain networks was a major factor.

In the future, I think blockchains should be connected, so we would like to enter the Ethereum ecosystem and the Solana ecosystem and so on," he said. "But, if we have a strong presence in Polkadot and are recognized as a leading chain in the Polkadot ecosystem, that will make it easier to work with other networks. This is one of our main objectives.

Other future plans for Astar include the possible launch of a stablecoin, but that process is still at the exploration stage.

Im actually speaking with a big bank to issue a stablecoin right now, Sota said. We can issue a stablecoin by ourselves, but history shows us this is pretty dangerous. So working with big banks to launch a stablecoin on Astar makes more sense than issuing a stablecoin by ourselves.

Crypto and Web3 are all about trustless infrastructure, but business is all about trust," he added. "Right now I see a big shift from trustless to trust, so working with big companies makes sense for mass adoption."

Sota also shared his perspective on the changing landscape of Web3, which he said was previously only for tech people but has started to move towards mass adoption.

The average person doesnt care which blockchain to use, he said. Just like the internet. When I interact with the internet, I dont care which server I use. Blockchain should be the same. While which specific blockchain to use matters more to the long-term adopters, general people, like your grandparents, will not care about which blockchain to use.

The main selling point of Astar is that it supports smart contracts, so it is capable of hosting protocols in the top sectors of the blockchain ecosystem. Sota said the network is already supporting a variety of projects from multiple sectors including the metaverse, artificial intelligence, and non-fungible tokens (NFTs).

One of the most exciting things for me is NFTs because [Japan] historically has strong IP, such as manga, anime, and so on, he said.

Sota added that he thinks this is one of the best opportunities for Japan to leverage in terms of the mass adoption of blockchain technology.

His ultimate goal with Astar is to make the network completely vertical and provide all the various components that other platforms provide individually. This includes indexing, node management, oracle capabilities, and wallet service, among others.

He would also like to see greater integration between Web3 and real assets. We should connect existing Web3 to real assets, Web2, Web1, and even the finance market," he said. "This is what we would like to do, and we are on the right track.

When it comes to central bank digital currencies (CBDCs) and a digital yen, Sota said that he would personally like to have the CBDC hosted on Astar first, and then see it expanded to other blockchain networks, but based on his understanding from conversations with the Japanese government, there is no timeline for the release of a digital yen and it has not yet been decided whether they will use blockchain.

As an entrepreneur, I would like to make something people want to use, something that can actually change reality, he said. Right now, Web3 does not change our reality much, so I would like to change the current status quo and make something people actually use.

People are using the internet, people are using ChatGPT, he said. I would like to make something similar within the next two years. The crypto market will be coming back, and I think the next bull market will be the biggest one. So we should not miss it. But making a great product takes time.

In the coming months, Sota said he will continue to work on making Astar the go-to-market chain for Japan, and then expand its presence in Asia and eventually to the U.S., once the regulatory landscape becomes more settled. I would like to make Astar a star, he said.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Astar Network is poised to become Japan's go-to blockchain ... - Kitco NEWS

What Is Sui?

Sui is a Layer-1 blockchain that is designed to limit how long it takes to execute smart contracts and support scalability for decentralized applications (dApps).

The blockchain uses an object-centric data model that stores digital assets and their attributes on-chain but outside of smart contracts. And parallel processing helps to finalize simple transactions, such as asset transfers, in real time while maintaining security.

Sui is named after the element water in Japanese philosophy, a reference to its fluidity and flexibility that developers can use to shape the development of Web3, according to the projects whitepaper.

The Sui blockchain shares common features with other networks, such as processing smart contracts, settlement of transactions, issuing tokens, and development of dApps. However, it introduces several new features that aim to solve the blockchain trilemma:

These include Suis consensus engine and the Move smart contract programming language developed by MystenLabs.

The Sui network uses a permissionless set of validators to reduce latency. Its delegated proof-of-stake (dPoS) approach allows validators to stake SUI coins to validate transactions. SUI is also used to execute custom programs, as a medium of exchange, and to provide incentivizes to developers.

However, Sui has had a low rate of transactions per second (tps) since the mainnets launch. While in testing, the network has reached 297,000tps, data from the Sui blockchain explorer shows that it has a peak of 1,367tps.

The $SUI token is the Sui blockchains native crypto. It has captured the attention of the markets since it launched its blockchain and native token in May 2023. The SUI token price soared by 2,000% on its first day of trading from its presale value.

$SUI has a total supply of 10 billion. A share of the total supply was released at launch, and the remaining tokens will be released over the coming years or distributed as future stake rewards, according to the projects documentation.

MystenLabs is allocating the tokens as follows:

There are three main sets of participants in the Sui economy:

Sui charges gas, or processing, fees on all network operations. It uses them to reward validators and prevent spam and denial-of-service (DOS) attacks.

Sui has a storage fund that it uses to shift staking rewards and compensate future validators for the cost of previously stored on-chain data.

The SUI coin has four main uses on the blockchain:

Sui grants rewards to holders that allocate their votes to other users. This incentivizes validators to act honestly, as delegators can switch their allocation each day.

While some crypto tokens initially launch on decentralized exchanges (DEXs) and gain centralized exchange listings as they grow in popularity, SUI was able to secure listings on major exchanges, including Binance, Bybit, Kucoin, and OKX from launch.

You can also buy the token on Coinbase, Bitfinex, Kraken, Bitstamp, Gate.io, and Huobi.

Sui Move is a variation of the Move smart programming language for building smart contracts that Facebook created for the Diem blockchain. Sui Move is written in the Rust code and defines the creation, transfer, and ownership of assets.

While most blockchains design smart contracts around accounts that send, receive, and hold the tokens that interact with smart contracts, Sui Move is based on programmable objects.

Developers can create rules for how the objects work, how they are transferred, and whether they can change. This makes programming assets for gaming and non-fungible tokens (NFTs) easier.

Objects in Sui Move can be modified by the owner such as in token transfers, voting, and sending messages on dApps or they can be modified by anyone, such as in interacting with public smart contracts.

Transactions for owned objects do not need to reach a consensus to be finalized, as there are specific algorithms that allow transactions to be executed in parallel. But shared objects do need consensus from validators for the transactions to be added to the blockchain.

Unlike blockchains such as Bitcoin and Ethereum where each transaction must be approved by all validators, which can cause bottlenecks Suis parallel transaction execution allows for more efficient transaction processing and increased throughput.

The SUI coin price history has been volatile since its launch. A presale and initial coin offering (ICO) in April offered SUI tokens at $0.03 and $0.10, respectively. In the tokens first trading session on May 3, the price soared to $2.16, a 2,000% return for the public sale investors.

The price then fell below $1 at the end of May on profit-taking. After the U.S. SEC announced its lawsuits on June 5, the decline in the SUI price accelerated, as the agency has taken the view that most cryptocurrencies other than BTC are trading as unlawful securities. SUI dropped to a low of $0.56 on June 10.

However, the price rebounded by as much as 27% in the following days, as Suis developers announced a new governance proposal to introduce liquid staking. With the team scheduled to release two mainnet upgrades in June, the future of the Sui project will depend on whether the enthusiasm around its technology can be sustained.

The value of the token is likely to remain volatile in line with the wider cryptocurrency markets, but it will also be influenced by the adoption of the SUI blockchain.

Sui was created by the company MystenLabs, which was founded by executives Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias. They led the development of the Facebook wallet program Novi and the Diem (previously Libra) blockchain-based stablecoin payment system.

The Sui Foundation is supporting the development of the ecosystem as an independent organization providing grants to developers and creators.

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What Is Sui ($SUI)? Definition, Sui Blockchain, How to Buy $SUI - Techopedia