Portfolio Insights: Sui By Mysten Labs

For creators & developers; building for the next billion Web3 users

Performance

  • owned objects where only the owner have modification rights, and
  • shared objects where there is no specific owner and can be modified by more than one user.
Source: Sui Whitepaper
  1. Client (user) with a private key signs a transaction to mutate objects that they own/share with others.
  2. The user transaction is sent to Sui validators, who then vote on the validity of the transaction based on their stake weight under the rules of Proof of Stake, and return their responses to the user.
  3. The Client (user) will then collect all the votes from the validators. If > ⅔ of the validators acknowledge the validity of the transaction, a transaction certificate is formed. This transaction certificate is then broadcasted back to all the validators who will then execute the transaction. In the event shared objects are involved, the validators will send the transaction certificate to the Byzantine Agreement Protocol for sequencing before executing it.
  4. Once > ⅔ of the validators have executed the transaction certificate, finality is achieved and state changes will be committed.

Security

  • Both Bullshark and Tusk can scale in terms of increased TPS as the validator set grows as increased number of validators leads to optimised use of all resources. HotStuff suffers on TPS as the validator set increases
  • During periods of partial synchrony, Tusk offers better throughput than Bullshark and HotStuff (up to 160,000 TPS vs 130,000 TPS vs 70,000 TPS), but loses out on latency (3 seconds vs 2 seconds vs 2 seconds)
  • Both Bullshark and Tusk can maintain a good level of throughput even under situations of crash faults where up to ⅓ of the validators are faulty
  • Tusk also offers liveness guarantees during periods of asychrony, whereas HotStuff is unable to do so. Bullshark allows validators to change their voting type to “fallback“ during times to asynchrony, giving it the same liveness properties as Tusk. Once periods of asychrony ends, validators can change their voting type back to “steady-state”, and offer low latency again
  • Tusk is unable to distinguish between faulty and slow validators, and hence the protocol will proceed without them. This results in fairness issues since “slow” validators may never be able to commit transactions. Bullshark gets around this problem ensuring all honest validators will eventually be able to contribute transactions with the help of garbage collection.

Sui’s Economic Model

  1. Staking within an epoch as part of DPoS
  2. Asset required to pay gas fees
  3. Unit of account, medium of exchange or store of value used within the Sui ecosystem
  4. Participation in on-chain governance
  • Users, who submit transactions to the Sui platform
  • Token holders, who have the option of delegating their token to validators and participate in the Delegated Proof-of-Stake mechanism and also the ability to participate in governance
  • Validators, who manage transaction processing and execution on the platform
Source: Sui Docs

Roadmap

Source: Sui Announcement
  • Gaming SDKs
  • Cross Chain Bridges
  • Developer Tooling

Closing Thoughts

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