SUI isn’t EVM-based; it uses its own execution model designed for high throughput and parallel processing. It was launched by Mysten Labs, a team that includes ex-Facebook engineers from the Libra project
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Does SUI have smart contracts? How does it differ from Ethereum?
Yes, SUI supports smart contracts using the Move language. Unlike Ethereum’s sequential execution, SUI is built for parallel processing, which can lead to faster and more scalable transaction performance, making asset management and dApps more efficient.
Does this help with scaling? Ethereum is facing a number of scaling issues?
SUI's parallel processing lets it handle many transactions concurrently, offering a potential solution where Ethereum's sequential execution can bottleneck under heavy load. This design could mean faster, more scalable dApp performance overall
When did SUI go live and mine its first block?
SUI's mainnet launched in mid-2023, with the first block mined during its initial rollout phase, marking the protocol's debut on the blockchain scene
How does SUI differ from the Arbitrum blockchain?