Sui Sets the Standard for Blockchain Speed with New Mainnet Consensus Mechanism
Grand Cayman, Cayman Islands, August 6th, 2024, Chainwire
Sui, the pioneering Layer 1 blockchain known for industry-leading performance and infinite horizontal scaling, has taken a leap forward with the launch of its new Mysticeti protocol. This innovative protocol has cut consensus latency to an astonishing 390 milliseconds, making Sui the fastest consensus layer in the industry.
Developed based on extensive research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from the previous Narwhal-Bullshark algorithms. With Mysticeti, Sui can achieve unprecedented transaction speeds, providing low latency performance across all transaction types on the network.
The object-oriented architecture of Sui allows for different transaction processing based on the characteristics of the transaction and the objects involved. Transactions involving only “owned objects” bypass the need for consensus, resulting in faster execution times. Mysticeti optimizes shared object transactions using an enhanced version of BFT consensus, reducing latencies significantly and maintaining high throughput.
After three months of successful testing on Testnet, Mysticeti has been deployed on Sui Mainnet, showing an 80% reduction in latency. With this update, Sui can now handle tens of thousands of transactions per second with end-to-end latencies below one second.
Industry experts have praised Mysticeti for setting a new standard in blockchain transaction speeds. Dmitri Perelman, Head of Engineering at Mysten Labs, described Mysticeti as a next-generation consensus protocol that puts Sui at the forefront of the industry.
Various companies operating on the Sui network have already seen tangible results from Mysticeti. Kevin Nelson, Co-Founder & CTO of Aftermath Finance, highlighted the significant advancements in latency reduction within the Sui DeFi ecosystem. Rabeel Jawaid, Co-founder of derivatives exchange Bluefin, noted the improved trading experience with lower settlement latencies.
Overall, Mysticeti’s deployment on Sui Mainnet has revolutionized transaction speeds and efficiency, benefiting both retail users and institutional partners across various sectors within the blockchain ecosystem.
Contact Sui Foundation media@sui.io