# Sui Blockchain By [Dynamic](https://paragraph.com/@dynamic) · 2023-04-08 --- What is Sui Blockchain? ----------------------- Mysten Labs is the Web3 infrastructure organization behind Sui blockchain, which was initially introduced earlier this year. Mysten Labs consist of leading cryptography, programming language, and distributed system experts. Further, the founders used to lead Meta’s Novi Research and helped develop the Move programming language.  Sui has branded itself as the first permissionless layer-1 (L1) proof-of-stake (PoS) blockchain built from the ground up, allowing developers and creators to build Web3 projects that serve the next wave of Web3 users. Furthermore, Sui is a next-generation smart contract platform focusing on throughput and low latency. The blockchain utilizes an asset-oriented programming model based on the smart contract language known as Move. The blockchain platform is maintained by a permissionless collection of validators fulfilling the same role as miners or validators in other prominent blockchain systems. Furthermore, the native token of the platform is called “SUI”, which plays a vital role in the functionality of the network. Sui Token Explained? -------------------- SUI is the native token of the Sui blockchain, and it has a fixed supply of ten billion tokens. The purpose of SUI is multifaceted, and the token fulfills several functions within the Sui ecosystem.  * First, SUI is used to pay gas fees for transactions and other occurring on-chain operations. * Second, it is possible to stake the token in order to participate in the platform’s PoS mechanism. * Third, SUI is an asset and works as a medium of exchange/to store value.  * Lastly, SUI plays an essential role in the governance of the Sui blockchain. As such, token holders gain the right to participate in on-chain voting. Sui Blockchain Benefits? ------------------------ * Sui has, as the previous section explored, the ability to bypass consensus regarding straightforward transactions. This strategy allows Sui to parallelize the execution of simple transactions. Consequently, it reduces latency drastically and allows validators to leverage the totality of their CPU cores.  * The Sui platform can operate at network speed without waiting for system timeouts between protocol steps. Moreover, to make further sense of this, it can be good to compare Sui to, for example, traditional PoW (proof-of-work) blockchains that need to wait for predefined timeouts before validating and committing transactions.  * Sui can leverage more machines or devices per validator to increase performance. More conventional blockchain systems usually run on only one machine per validator. ![Sui Blockchain](https://storage.googleapis.com/papyrus_images/25e5d249d29ca1b7ee49bc0c6727bcfa83d16984b604bd42c13a56300f5dcad6.webp) Sui Blockchain --- *Originally published on [Dynamic](https://paragraph.com/@dynamic/sui-blockchain)*