The Sui Network is extending its overall bullish price trend after it announced a major upgrade that just went live on its testnet. Taking to the X platform, Sui Network revealed that it has launched the Mysticeti upgrade on the mainnet.<\/p>\n
Sui Network Plots Upgrade To Become Fastest Blockchain<\/strong><\/h2>\nSui Network is known as a high-performing blockchain protocol. Despite its recognized speed as measured by transactions per Second (TPS), the network has continued to push for more.<\/p>\n
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With Mysticeti launched on testnet, Sui Network said it is now the fastest among all blockchains. The protocol has effectively reduced the consensus latency on Sui down to 390ms. The Layer-1 network said this reduction accounts for a massive 80% reduction from Narwhal-Bullshark.<\/p>\n
\n\ud83d\udea8BREAKING: Sui\u2019s consensus is now the fastest among all blockchains \ud83d\udea8<\/p>\n
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<\/a><\/p>\n<\/p>\n
\u2014 Sui (@SuiNetwork) May 21, 2024<\/a><\/p>\n<\/blockquote>\nThe blockhain world is in a frantic race to solve the trilemma of decentralization, transaction speed and low cost. Ethereum, the dominant Decentralized Finance (DeFi) hub is generally congested, necessitating enormous network upgrades<\/a> as seen in recent times.<\/p>\n<\/p>\n
Sui solves most of Ethereum\u2019s woes and with the new Mysticeti upgrade, it has taken this a step further. Highlighting what the update means for its ecosystem, the blockchain said the average user can now transact with enhanced experiences across the board. It said its users will now gain access to lightning fast transactions across all apps.<\/p>\n
Of particular interest are its gaming and DeFi ecosystem which can now enjoy throughput and low fees. The development and launch of Sui Mysticeti upgrade took the academic approach with the research paper published. While the average user will benefit from the upgrade, validators and developers are also named as the ultimate beneficiaries of the lower latency upgrade.<\/p>\n
SUI Price Outlook<\/strong><\/h2>\nThe Sui Price is on a major rampage following the testnet launch of Mysticeti. At the time of writing, Sui was trading at a price of $1.14, up by 1.43% in 24 hours. This relatively mild uptick has sent the price for the past week to 26.69%, with an active volatility that can help bridge further gaps in the expected price action of SUI.<\/p>\n
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Sui has been in the spotlight over the past weeks as it recently revealed hitting the 1 million daily active wallet milestone<\/a>. With the Sui Mysticeti upgrade, chances are the network may attract more users across the board, paving positive uptick in price in the long term.<\/p>\nRead More: Bonk Price Breaks 2-Month Consolidation Amid Market Rally, What\u2019s Next?<\/a><\/strong><\/p>\n<\/p>\n
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\n\n\n\n\n<\/p>\n\nBenjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n\n ![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/733ca3c15c1fbb2629eeb51edb886efb?s=200&d=mm&r=g\")
\ud83d\udea8BREAKING: Sui\u2019s consensus is now the fastest among all blockchains \ud83d\udea8<\/p>\n
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<\/a><\/p>\n <\/p>\n \u2014 Sui (@SuiNetwork) May 21, 2024<\/a><\/p>\n<\/blockquote>\n The blockhain world is in a frantic race to solve the trilemma of decentralization, transaction speed and low cost. Ethereum, the dominant Decentralized Finance (DeFi) hub is generally congested, necessitating enormous network upgrades<\/a> as seen in recent times.<\/p>\n <\/p>\n Sui solves most of Ethereum\u2019s woes and with the new Mysticeti upgrade, it has taken this a step further. Highlighting what the update means for its ecosystem, the blockchain said the average user can now transact with enhanced experiences across the board. It said its users will now gain access to lightning fast transactions across all apps.<\/p>\n Of particular interest are its gaming and DeFi ecosystem which can now enjoy throughput and low fees. The development and launch of Sui Mysticeti upgrade took the academic approach with the research paper published. While the average user will benefit from the upgrade, validators and developers are also named as the ultimate beneficiaries of the lower latency upgrade.<\/p>\n The Sui Price is on a major rampage following the testnet launch of Mysticeti. At the time of writing, Sui was trading at a price of $1.14, up by 1.43% in 24 hours. This relatively mild uptick has sent the price for the past week to 26.69%, with an active volatility that can help bridge further gaps in the expected price action of SUI.<\/p>\n <\/p>\n Sui has been in the spotlight over the past weeks as it recently revealed hitting the 1 million daily active wallet milestone<\/a>. With the Sui Mysticeti upgrade, chances are the network may attract more users across the board, paving positive uptick in price in the long term.<\/p>\n Read More: Bonk Price Breaks 2-Month Consolidation Amid Market Rally, What\u2019s Next?<\/a><\/strong><\/p>\n <\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\nSUI Price Outlook<\/strong><\/h2>\n