Over 1,000 Builders, Partners, Investors and Enthusiasts Gather at Inaugural Global Event to Celebrate Sui

Grand Cayman, Cayman Islands, April 18th, 2024, Chainwire

The annual event is a culmination of Sui’s exceptional debut

Over 1,000 projects, partners, investors, and enthusiasts from 65 countries around the world gathered last week in Paris to celebrate Sui at the vaunted Layer 1’s inaugural global Sui Basecamp conference.

At its first-ever annual event held during Paris Blockchain Week, Sui was feted by developers and builders from around the world during a two-day event. Speakers at Sui Basecamp spanned all aspects of the industry from payments to gaming to e-commerce to major league sports, offering commentary in keynotes, panels, and fireside chats. 

The event was punctuated by three major announcements. In partnership with Playtron, the Sui team announced the SuiPlay0x1, the world’s first lightweight handheld gaming device designed with native Web3 capabilities, and promising new gaming experiences. Additionally, First Digital Labs, joined an announcement that FDUSD, the fastest-growing stablecoin in crypto, will be the first native dollar-backed stablecoin on Sui, a boon to Sui’s DeFi ecosystem, which is already the fastest-growing in the industry. Finally, Sui announced Enoki, a suite of Web3 utilities that will make it very simple for enterprises to leverage decentralized solutions inside their applications, products and services. 

Sui Basecamp attendees from 65 countries had the opportunity to meet each other face-to-face.

The industry veterans who founded Sui launched its mainnet nearly a year ago to great expectations, and the network has performed exceptionally well. Rather than cloning an existing network, the Sui team started from scratch to build an entirely new infrastructure layer that addressed the shortcomings of existing blockchains. They started by creating Move, a novel smart contract language, and on top of it created a new architecture centered around objects that enables performance and functionality that is simply not available on existing blockchains. The result is a blockchain that is singular in the industry — the universal coordination layer for intelligent assets.

Sui is a industry leader with lightning-fast transactions, with time to finality clocked at just 400 milliseconds. Likewise, Sui’s scalability is also at the pinnacle, reaching 297,000 TPS in a controlled environment. But the Sui team is also constantly improving its technology. At the conference, members of the Sui team unveiled the next advancement in speed and scalability in the form of Mysticeti, which significantly accelerates Sui’s time to finality, and Pilotfish, which enables nearly unlimited horizontal scaling by validators.

And beyond performing in test environments, at just four months old, Sui broke the record for transactions executed in a single day, achieving a higher figure than any existing blockchain while fees remained low and stable. Notably, in nearly a year of its mainnet, Sui has not experienced a single minute of downtime.

Gradually, after a series of community events around the world, media stories highlighting Sui’s remarkable early milestones, sustained ecosystem growth and multiple stories of builders eschewing other blockchains to leverage the Sui network, builders, developers, investors and the broader community have begun to understand the potential for Sui’s groundbreaking blockchain technology. The crowds that gathered for Sui Basecamp 2024 represented the culmination of Sui’s arrival.

Users can read more on the event on the Sui Blog.

Contact

Sui Foundation
media@sui.io

Disclaimer: Press release sponsored by our commercial partners.