Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

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Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bybit Learn

Blockchain

Explainers

Altcoins

Kontos (KOS) is an innovative Layer 2 omnichain platform that simplifies secure, seamless transactions across multiple blockchains with a unified account experience.

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Blockchain networks boast significant security and decentralization benefits, but they aren't particularly known for the efficiency of their cross-chain interoperability. Inconsistent account formats, gas fees denominated in different assets, difficulties in bridging funds and incompatible wallets are all realities of life for 

 users who dare to delve into cross-chain transactions. 

While a plethora of cross-chain bridges and other solutions have emerged on the market in recent years, the majority can’t provide the unified 

 experience that would truly make cross-chain operations feel as seamless as performing them on a single network.

Concerns over security of interchain communications exist as well, with users often unfamiliar with wallets and security standards on many chains, particularly less recognized ones.

 omnichain project that aims to provide that coveted single-platform experience whereby users deal with multiple blockchains through the use of account, asset, chain and transaction abstractions. Using 

 (ZK) technology to enhance the security of its operations, Kontos provides a user-friendly solution that lets you easily conduct your crypto transactions across various blockchains, without the complexities of managing multiple 

 (KOS) is a Layer 2 omnichain account abstraction platform that lets users seamlessly transact and manage their crypto funds across multiple blockchains from the same unified abstracted account. 

A Kontos account allows you to move funds, swap tokens and conduct other operations managing your cross-chain assets as if they were all based on the same network. The abstracted account lets you avoid creating multiple 

 and private keys on each blockchain you may utilize.

Powered by ZK technology, Kontos also provides a highly secure environment to protect you from vulnerabilities that may arise during cross-chain communications, or when using blockchains with less-than-optimal security setups. 

 (AI) features as well, with its Kontos AI Agent, a bot that lets you explore multiple blockchain environments and trade and manage your account using intent-based natural language prompts (see 

EVM)–compatible blockchains into its account abstraction setup. These include major 

 EVM networks, such as Ethereum (ETH), BNB Chain (BNB), Avalanche (AVAX), Polygon (MATIC), Optimism (OP) and Arbitrum (ARB), as well as several smaller EVM-compatible platforms, such as Linea, Blast (BLAST) and Mantle (MNT). Users can deposit assets from supported networks into their Kontos accounts using the 

 bridging solution. As of October 2024, Kontos supports only EVM-compatible networks, but has plans to integrate non-EVM chains as well.

The Kontos platform was developed and is supported by the blockchain development outfit Zecrey Labs, whose alpha mainnet operations were launched in June 2023. In early 2024, the project debuted its web application that allows users to easily register an omnichain abstracted account, which then allows them to transact on the multiple networks supported by its platform.

 (ATOM) blockchain’s technology. It uses abstraction at all the fundamental levels — account, chain, asset and action/transaction — to allow users access to the underlying EVM-compatible chains from a unified interface, without the need to carry out separate transactions or maintain separate accounts.

A key feature of Kontos that supports cross-chain communications is the 

, a network component that receives and processes cross-chain transaction requests from users. The Broker scouts the entire ecosystem of chains serviced by Kontos to find the most suitable deals and execution pathways for the specified user request. To free users from the need to handle cross-chain operations themselves, the Broker pre-purchases assets and pre-pays gas fees on behalf of users.

Using the Broker greatly simplifies cross-chain activities and creates ways to conduct sophisticated, multichain operations easily. For instance, if you hold 1 ETH on Ethereum and 15 BNB on BNB Chain, and would like to combine these funds to buy as much AVAX on the Avalanche chain as your funds will fetch, the Broker — working in the background of your Kontos account — will handle the entire process across all three chains. Imagine having to do the same directly, connecting to all three chains, initiating transactions with pre-paid gas fees on each network! These scenarios demonstrate how Kontos's account abstraction, powered by its Broker, can be a great time and money saver.

To facilitate user-friendly cross-chain operations via its platform, Kontos has launched AI-powered bots for Discord and Telegram. We mentioned above the integration of the Kontos AI Agent into the platform's architecture. Kontos has implemented this technology on Discord and Telegram to support a wide variety of user operations, from intent-based asset trade to account recovery and more. General account management operations are 

. However, if you conduct crypto swaps and cross-chain transfers via the bots, there are gas fees to be paid.

One of Kontos bots' most innovative and useful features is their ability to facilitate intent-based transfers and crypto trade. Intent-based transactions allow you to pre-specify your intended goal in initiating the transaction, e.g., "

", and provide criteria that must be met so that your request is executed, such as "

as long as the total transaction fees, including gas fees, are no more than $10.

The bot's job is to find the optimal execution route and carry out the transaction when suitable, and only if your conditions are met.

 provides access to all the features offered by the platform as an alternative to using social media bots. Users who prefer a desktop environment might prefer to use the app rather than the Discord or Telegram bots. The app is also accessible via the bots; you’ll need to provide the 

 command through either bot to launch the web app.

Using the Kontos Web App, you can transfer funds from other blockchains to your account, conduct token swaps via the over-the-counter (OTC) option and carry out core account management operations.

The Kontos Wallet allows you to comprehensively manage your account and transactions on Kontos’s platform. It's completely decentralized and noncustodial. Powered by ZK technology, the wallet offers a high degree of security, always an important factor when interacting with multiple blockchain environments.

 account abstraction model, which is designed to support abstracted wallet operations without modifications at the core Layer 1 level. Thanks to ERC-4337, the Kontos Wallet features user-friendly account names and passwords, instead of the typical blockchain private keys and complex address identifiers.

The Kontos Wallet is a single, unified interface that powers all your interactions with chains supported by the platform. It features a built-in Broker, the Kontos component that optimizes cross-chain transaction execution; pre-pays gas fees on the utilized blockchains; and finds the best execution routes.

, Kontos also offers the option of using your smartphone as a hardware wallet.

Kontos's abstraction technology allows you to maintain accounts with readable addresses, instead of intimidating 42-character alphanumeric strings used on blockchains. This is just one important element of the platform's user-friendly focus.

You also don't need to use private keys or seed phrases for their accounts. If there's a need for account recovery, the platform's system of Guardians provides ample security. Guardians are other Kontos users whom you may trust enough — e.g., family members — to recover your account in case you've forgotten your login details. Guardians’ consent is essential, as it’s required during the recovery process. At the moment, you'll need to use two Guardians for account recovery. Naturally, Guardians have no access to your own account, and their use is completely optional.

The biggest overall benefit of Kontos is the platform's seamless integration with numerous EVM chains. Cross-chain transactions are all conducted in a way that provides a single-platform user experience. In the background, the Kontos Broker technology works tirelessly to handle all the complex details, carrying out a combination of cross-chain operations to fulfill user requests.

Gas fee optimization is a crucial job of the Broker. Blockchain users are typically put off by cross-chain transfers due to technical complexity and high transaction costs, especially in the case of operations involving more than two chains. Kontos handles all these aspects via its Broker and account abstraction model, with users paying a universal gas fee only once, regardless of the transaction's complexity and the number of platforms involved in its execution.

The Kontos platform has yet to launch its native token, KOS. However, you can already participate in the token's 

 to win a share of 400,000 KOS. To qualify for the airdrop, you’ll need to follow Kontos's account on X, repost the official campaign announcement post on X and use Bybit to deposit 10 MNT (Mantle Network's native token) into your Mantle-based Kontos account. The airdrop campaign is valid through Nov 16, 2024, 7AM UTC.

Kontos is a Layer 2 omnichain platform that has created a truly innovative and much-needed service. A decade and a half after the birth of blockchain technology, many web3 users still find it cumbersome to carry out cross-chain transactions. The need to connect to each chain involved in the operation, create an address on it, transfer funds through bridges and pay gas fees multiple times is enough to discourage even the most enthusiastic crypto users.

With the arrival of Kontos and its account abstraction model, this is bound to change — at least for those ready to give this innovative platform a chance — and Kontos’s AI-powered social media bots also look promising, thanks to their intent-based trading features. 

 (DeFi) aficionados who frequently use cross-chain operations may certainly appreciate this innovative functionality.

Kontos (KOS): Toward a Seamless and Secure Omnichain Future

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