Key Points
- SUI surged by over 17% today, reaching a market cap of over $2.7 billion.
- Sui just revamped how shared-object transactions are handled.
Today, the price of Sui (SUI) recorded a significant surge of more than 17%. At the moment of writing this article, SUI is trading at $1.04, and has a market cap of over $2.7 billion.
The other day, the team behind Sui shared an important post via their X account, addressing network congestion issues.
Revamping How Shared-Object Transactions Are Handled on Sui
In their post, Sui noted that they take congestion very seriously and this is the reason why they have revamped how shared-object transactions are handled on Sui.
They noted that these adjustments to the Consensus Handler are not just a technical upgrade, but they represent a new strategy to enhance efficiency and availability on Sui.
In an official blog post, Sui details their new and improved congestion control mechanism, how it works, and how it tackles important challenges.
Sui Congestion Control
In their official blog post, Sui reveals the new Consensus Handler design which introduces the following two new functions added to validator logic:
- The ability to defer transactions – The consensus handler can defer transactions to future consensus commits, managing execution dependencies in checkpoints more effectively.
- Active transaction cancellation – Validators can cancel transactions that have been deferred excessively.
What is Sui (SUI)?
Sui is an L1 blockchain platform designed to support the needs of global adoption by offering a secure, powerful, and scalable development platform, according to the team behind the project.
At its core, Sui leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.
Sui prioritizes UX by eliminating barriers commonly associated with blockchain interactions.
Here’s how Sui creates a higher standard for UX within Web3:
- Innovations like ZkLogin
- Sponsored transactions
- Programmable transaction blocks
The SUI token is mainly used to secure the network and acts as a unit of account and payment within the network.
