Sui Network Inches Closer to Its Long-Awaited Launch with This New Protocol Upgrade

Sui Network Inches Closer to Its Long-Awaited Launch with This New Protocol Upgrade

Altcoins

One of the most hyped emerging blockchain protocols, the Sui Network, has announced its testnet Wave 2 is billed to go live on-chain soon. Taking to its official Twitter handle, the protocol said the upgrade will go live next week, and it shared details on what the new upgrade will mean for the network in general.

According to the Sui Network, the testnet Wave will focus on testing epoch management, tokenomics and stake delegation. It also claims that Wave 2 will feature a new game focused on tokenomics and staking that anyone will be able to play.

Sui is a Layer 1 blockchain network that was launched by a team of Meta alumni including Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis and Kostas Chalkias. They worked on the Libra project, which was later sold to Silvergate Bank after it was rebranded to Diem. The Sui Network was built using Rust, the same language that was used for the Solana protocol.

According to details shared by the network, the testnet Wave 2 will help showcase what Sui Network brandishes that is different from other known networks today.

Wave 2 will illustrate what makes staking on Sui different from other chains – that delegating stake is especially simple and can be done directly from a wallet, without losing custody of tokens. Anyone can seamlessly participate in securing the Sui network!

— Sui (@SuiNetwork) January 19, 2023

New Ethereum killer?

The Sui Network is being branded as a protocol that will be highly functional for Decentralized Finance (DeFi) and GameFi. Instead of focusing on vertical scaling like its peer Ethereum (ETH) and the like, it focuses on horizontal scaling, giving it a very high throughput.

For the staunchest proponents of the Sui Network, it is believed that it will quickly rank as a formidable competitor to Ethereum.

While there have been other networks, dubbed Ethereum-killers, that have promised to unseat Ethereum as the core hub for DeFi and mainstream smart contract enabling, Sui Network says its technology is designed to truly foster swift usability along with a lower cost.

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