{"id":79168,"date":"2024-05-21T15:09:40","date_gmt":"2024-05-21T19:09:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79168"},"modified":"2024-05-21T15:10:11","modified_gmt":"2024-05-21T19:10:11","slug":"mainnet-mysticeti-upgrade-lifts-sui-network-sui-26","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mainnet-mysticeti-upgrade-lifts-sui-network-sui-26\/","title":{"rendered":"Mainnet Mysticeti Upgrade Lifts Sui Network (SUI) 26%"},"content":{"rendered":"\n

Sui Network is on a bullish rampage<\/a> today, having surged 23% in the past\u00a0week in response to the Mysticeti test upgrade.<\/p>\n\n\n\n

\"Mainnet<\/figure>\n\n\n\n

The Sui Network's overall bullish price trend has been extended following the announcement of a substantial upgrade that went live on its testnet. <\/p>\n\n\n\n

Implementing the Mysticeti enhancement on the mainnet, Sui Network announced on the X platform.<\/p>\n\n\n\n

Sui Network Plots Upgrade To Become Fastest Blockchain<\/h2>\n\n\n\n

The performance of the Sui Network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> blockchain protocol is renowned.\u00a0<\/p>\n\n\n\n

Despite its acknowledged speed, the network has persistently strived for increased transactions per second (TPS).<\/p>\n\n\n\n

Sui Network announced that since the testnet launch of Mysticeti, it is the quickest blockchain in existence. <\/p>\n\n\n\n

The protocol has successfully decreased the Sui consensus latency to 390 milliseconds. <\/p>\n\n\n\n

According to the Layer-1 network, this reduction represents an enormous 80% decrease from Narwhal-Bullshark.<\/p>\n\n\n\n

\n

\ud83d\udea8BREAKING: Sui\u2019s consensus is now the fastest among all blockchains \ud83d\udea8

Mysticeti is officially on Testnet, bringing consensus latency on Sui down to 390ms \u2013 a massive 80% reduction from Narwhal-Bullshark. \ud83e\udd2f pic.twitter.com\/n0tuH7W5SR<\/use><\/svg><\/span><\/a><\/p>— Sui (@SuiNetwork) May 21, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

There is urgent competition in the blockchain community<\/a> to solve the trilemma of decentralization, transaction speed, and low cost.\u00a0<\/p>\n\n\n\n

Significant network enhancements have been recently required due to the general congestion on Ethereum, the preeminent Decentralized Finance (DeFi) hub.<\/p>\n\n\n\n

Sui resolves most Ethereum's issues, and the Mysticeti revision has expanded upon this. <\/p>\n\n\n\n

Emphasizing the update's implications for its ecosystem, the blockchain stated that the standard user now enjoys enhanced transaction experiences in all areas. <\/p>\n\n\n\n

The company announced that users can now conduct transactions in all applications with lightning-fast speeds.<\/p>\n\n\n\n

Of particular interest are its gaming and DeFi ecosystem, which can now enjoy throughput and low fees. <\/p>\n\n\n\n

Utilizing a published research paper, the development and introduction of the Sui Mysticeti enhancement adopted an academic stance. <\/p>\n\n\n\n

The ultimate benefactors of the lower latency upgrade are validators and developers, as well as the average user.<\/p>\n\n\n\n

SUI Price Outlook<\/h2>\n\n\n\n

The Sui Price has experienced a significant surge after introducing the testnet for Mysticeti. <\/p>\n\n\n\n

As of the time of writing, Sui was trading at $1.14, representing a twenty-four-hour increase of 1.43%. <\/p>\n\n\n\n

Active volatility that may assist in bridging additional gaps in the anticipated price movement of SUI has propelled the price to 26.69% over the past week in response to this comparatively moderate increase.<\/p>\n\n\n\n

In recent weeks, Sui has been in the public eye due to its announcement that it has surpassed one million daily active wallets. <\/p>\n\n\n\n

The Sui Mysticeti upgrade has the potential to increase the overall user base of the network, which could result in a positive long-term price increase. <\/p>\n","protected":false},"excerpt":{"rendered":"

Sui Network is on a bullish rampage today, having surged 23% in the past\u00a0week in response to the Mysticeti test upgrade. The Sui Network’s overall bullish price trend has been extended following the announcement of a substantial upgrade that went live on its testnet.  Implementing the Mysticeti enhancement on the mainnet, Sui Network announced on […]<\/p>\n","protected":false},"author":56,"featured_media":79170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,130],"tags":[202,16421],"class_list":["post-79168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-blockchain-news","tag-blockchain","tag-sui-network"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/Mainnet-Mysticeti-Upgrade-Lifts-Sui-Network-SUI-26.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79168"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79170"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}