Select what genuinely interests you. Your picks feed directly into our editorial planning. Sui is a layer-1 blockchain that has been running on mainnet since May 3, 2023 and was developed by the US company Mysten Labs. Its token is called SUI, and supply is capped at ten billion. What sets Sui apart from older networks is its data model: the blockchain does not store account balances but individual objects, each with its own ID, owner and version number. Transactions that involve different objects can therefore be processed in parallel.