Demex Daily #147: Sui Marks First Anniversary with Significant Blockchain Advances

What’s Interesting Today:

Sui has celebrated its first anniversary since its Mainnet launch, establishing itself as a leading Layer 1 blockchain with substantial growth and technical breakthroughs. Developed by Mysten Labs, Sui utilizes the unique Move programming language, enhancing performance and functionality across the blockchain landscape. In its first year, Sui achieved rapid transaction speeds, massive scaling, and low fees, alongside introducing technologies like Mysticeti for faster finality and zkLogin for simpler user access. It has become a key player in DeFi, gaming, and commerce, drawing significant partnerships with major tech firms such as Alibaba Cloud, Google Cloud, and BytePlus. The inaugural Sui Basecamp event highlighted its global impact and the robust developer interest in its platform.

Swarm Network has completed its Swarm 2.0 roadmap and is set to discontinue its bonding curve mechanism on May 4, 2024, a move supported by a decisive community vote. This marks a shift towards improved network efficiency and user engagement, including enhancements like erasure coding for resilience and a self-sufficient price oracle. The bonding curve, initially used to stabilize token prices and prevent inflation, is being removed due to its drawbacks, such as locking in capital and dampening price dynamics. This change is expected to attract new users and investors, propelling Swarm Network's growth in the decentralized space. Created by the Ethereum Foundation in 2015, Swarm has significantly evolved, with the latest update poised to further its commitment to secure, decentralized digital storage and communication.