Mapping Out Sui Ecosystem

Sui is a Layer-1 blockchain developed by Mysten Labs, a team founded in 2021 by former Facebook Diem developers. Evan Cheng, the CEO and Co-Founder of Mysten Labs, believes that their project can scale with demand and incentivize growth while removing middlemen in the process. Sui is written in Rust and supports Move, the programming language initially created for Diem. Sui often gets compared to Aptos, another up-and-coming Layer-1 blockchain built on Move, however, Evan states that there are quite a few differences between the intended technology implementation for Diem, Aptos, and Sui. Full Mysten Labs company report and in-depth analysis can be accessed here and here.

Sui and Aptos have at least a couple of fundraising rounds completed leading up to their Mainnet releases, with the former raising $300 million, valued at $2 billion in the latest round.