Draft:Sui (blockchain platform)

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• Comment: Most of these sources are not the independent secondary sources with in-depth coverage that we are looking for. Stuartyeates (talk) 04:03, 13 June 2026 (UTC)

Sui is a Layer 1 blockchain developed by Mysten Labs, a company founded in September 2021 by former engineers from Meta Platforms' Diem project.²³ The network launched on mainnet on May 3, 2023, and is built around an object-centric data model and a variant of the Move programming language.³ Mysten Labs has described the architecture as designed for parallel transaction execution.³

Sui's technical foundations trace to Diem (originally called Libra), a digital payments project announced by Meta (then Facebook) in 2019. Diem's engineering team developed the Move programming language and an object-based data model intended for a payments network. After regulatory pressure from authorities in the United States and elsewhere, Meta wound down Diem in early 2022 and sold its assets to Silvergate Bank.⁴

Several members of the Diem project left Meta and founded Mysten Labs in September 2021, before the formal shutdown of the project, to build a new Layer 1 blockchain using technology developed at Meta.²

Mysten Labs is headquartered in Palo Alto, California. Its co-founders, all of whom previously worked on the Diem project or in Meta's blockchain division, are Evan Cheng (chief executive officer), Sam Blackshear (chief technology officer and creator of the Move programming language), Adeniyi Abiodun (chief product officer), George Danezis (chief scientist, formerly of Microsoft Research and University College London), and Kostas Chalkias (cryptographer).²³

Mysten Labs announced Sui publicly in March 2022, opened a public devnet in August 2022, and launched the mainnet on May 3, 2023.³

Sui uses a dialect of Move, a programming language originally created for the Diem project by Sam Blackshear. Move enforces resource semantics at the compiler level, so that digital assets cannot be copied or implicitly discarded. According to Mysten Labs, the language was designed to prevent certain classes of smart-contract vulnerabilities associated with Solidity, the dominant language on Ethereum.²³⁵

Most blockchains, including Ethereum, use an account-based model in which each address holds a balance. Sui uses an object-centric model in which on-chain assets are represented as distinct, uniquely identified objects. Mysten Labs has stated that this design lets the network identify transactions that operate on independent objects and execute them in parallel rather than in a strict sequence.³

Sui uses a Byzantine fault-tolerant consensus protocol named Mysticeti, based on a directed acyclic graph structure. The protocol can bypass full consensus ordering for transactions involving objects with a single owner, such as simple token transfers, while transactions involving shared objects are ordered through the consensus layer.⁶

SUI is the native cryptocurrency of the Sui blockchain. It is used to pay transaction fees, to stake with validators, and to participate in on-chain governance. The token launched with the mainnet in May 2023 and has a fixed maximum supply of 10 billion units.³⁷

According to data from the analytics site DeFiLlama, the total value locked (TVL) in decentralized finance applications on Sui grew from a low level at the May 2023 mainnet launch to more than $2 billion by 2025, reaching a recorded high of approximately $2.6 billion in late 2025.⁸ In June 2026, the business magazine Fortune included Sui in its Fortune Crypto 100, ranking it ninth in the "Blockchains and Protocols" category of the list.⁹

Ethereum is the largest Layer 1 blockchain by total value locked. Its account-based model requires transactions to be ordered sequentially, and its base layer processes a limited number of transactions per second without separate scaling layers.¹⁰ Sui differs from Ethereum in its data model and in its use of Move rather than Solidity.³

Solana (blockchain platform) is frequently compared to Sui on the basis of throughput and latency. The two differ in data model, consensus mechanism, and programming language, with Solana using Rust.³

Aptos is a Layer 1 blockchain that shares the Move-language heritage of Sui and was also founded by former Meta and Diem engineers. The principal architectural difference is that Aptos uses an account-based model while Sui uses an object-centric model.³

The name "Sui" derives from the Japanese and classical Chinese character for water (水, sui). Mysten Labs has said the name alludes to the adaptability of water.³