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

Altcoins

Crypto

Thanks to its speed and usability, the Serum coin and network are steadily gaining attention. Read up about SRM here.

SRM_USDT_price_chart.png

The popularity of decentralized exchanges has been on the rise over the past year, with the decentralized finance (

) movement forcing developers to focus on issues surrounding complete decentralization. Despite demonstrating certain advantages (e.g., the ability to combine intuitive interface and access for substantial liquidity), centralized exchanges will never achieve the level of security that decentralized exchanges offer. One example of the latter is Serum. In order to become the cornerstone of the DeFi ecosystem, Serum has decided to offer a set of exciting new features.

Serum is a fully decentralized ecosystem based on Solana. Its main focus is interoperability, and the highlight of its ecosystem is decentralibility.

 Serum offers an easy-to-use platform from which any crypto token can be exchanged for another without the need to go through any KYC procedures. Serum’s 

 uses the traditional swap system, allowing users to add any trading pairs they like.

Since Serum is built on Solana’s blockchain, its DEX benefits from capabilities worthy of a centralized exchange while users retain full control of their funds. Thanks to its cross-chain features, you can trade BTC, ETH, ERC20 tokens and SPL tokens (Solana’s token standard), among others. These features allow 

 to find in Serum a truly decentralized platform, which has all the convenience offered by centralized platforms and more.

The Serum Foundation was launched in August 2020. It’s the brainchild of 

, a math and computer science graduate of MIT. Bankman-Fried is also the founder of Alameda Research (2017), a successful cryptocurrency trading company, and the popular crypto derivatives exchange FTX (2019). Along with his FTX colleagues, Bankman-Fried came up with a DeFi protocol to implement in which the DEX was autonomous.

Serum is supported by many centralized exchanges. To date, it has also entered into numerous collaborations, including one with 

, providing pricing oracles for its DEX within the ecosystem. The leading advisors for the project include Robert Leshner, the founder of Compound Labs, and Long Vuong, founder and CEO of TomoChain.

SRM is the native token of the Serum ecosystem. Serum’s cross-chain swap protocol allows users to reliably swap assets between blockchains. Serum offers investors a decentralized, automated full-limit order book that gives them full control over each order. The integration between Ethereum and Solana makes Serum faster, more efficient and interoperable with 

The regulated cross-chain contracts allow easy margin positions in DeFi on synthetic assets. SRMBTC is a model for creating ERC20 or Solana-based tokens for BTC, while SRMUSD is a model for creating a decentralized USD fixed constant currency.

Stake rewards are distributed based on the performance of nodes that take into account important in-chain actions, such as providing blockchain histories for cross-chain placement verification.

The SRM token also has a classic mechanism that is recognized by the tokens of exchange platforms. This system of redemption and destruction rarefies the total amount of SRM.

Apart from the utility of the SRM token in the ecosystem, all fees paid in SRM are automatically burned every week. This mechanism gradually reduces the number of SRM tokens in circulation, further increasing its rarity. That’s why SRM continues to remain valuable. 

Currently, Serum is the most preferred decentralized exchange on the Solana ecosystem. The Solana ecosystem offers users a fast trading experience, and as the ecosystem expands, the number of projects on Serum DEX will increase. 

Serum’s unique selling proposition (USP) is that it allows the public to create their own DEXs. What this means is that individuals who possess programming skills can create a decentralized market with the help of Serum. Typically, DEXs struggle to obtain sufficient liquidity for their users. The problem is solved, however, by building a DEX using the Serum ecosystem. The liquidity of each DEX built on Serum is pooled with the others, and even with the Serum DEX itself.

Serum also rewards those who provide liquidity for its markets. Some of the top DEXs created on Serum include 

As we’ve already mentioned, Serum is built upon the Solana blockchain architecture. Therefore, it’s impossible to talk about the Serum project without mentioning the Solana ecosystem. 

This affiliation with Solana makes Serum a unique and pure DEX, which allows the decentralization of all exchanges for several blockchains, an exclusively on-chain order book, speed and efficiency of orders, very low exchange fees, and perhaps most importantly, interoperability with Ethereum and ERC20 tokens. This means that the SRM crypto is an SPL token (Solana Program Library). This is, by the way, a standard similar to ERC20 on Ethereum, which makes it possible to issue interchangeable tokens on Solana. Serum therefore takes advantage of all the capabilities of the Solana blockchain to ensure that its ecosystem works smoothly.

It’s worth noting that Solana also relies on interoperability between blockchains. This network is fully compatible with Ethereum, and even with 

. This particular characteristic benefits Serum, which, as we’ll see below, enables collaboration for cryptocurrencies that are otherwise incompatible. In this way, these cryptocurrencies become exchangeable via Serum’s decentralized platform.

The Serum project is fueled by its governance token, SRM. It’s the native utility token of the Serum ecosystem built on the Solana blockchain. It confers several advantages on its holders, including:

Note that the Serum ecosystem chooses to burn these fees and contribute to the ecosystem. The rest of the fees, 20%, are distributed to users (stakers) who lock SRM tokens.

Like any blockchain, Solana comes with a consensus mechanism, with the main innovation behind the Solana network being 

. As the name suggests, it’s a form of consensus based on evidence of past events.

Note that for the Solana network, PoH presents itself as an overlay to 

, the well-known consensus that implements the concept of masternodes and staking.

Before getting into the specifics of how PoH works, it’s necessary to go back to the basics. Let’s take Bitcoin and its consensus, proof of work (PoW), as an example. On the Bitcoin network, all of the network nodes work in parallel to validate the next block. This implies that the majority of nodes must validate any block before it can be anchored forever in the chain. This process is relatively lengthy, and requires most of the network to agree that “such and such block has been validated at such and such time.”

To maximize its technical capabilities and meet the requirements of its users, the Solana blockchain implements PoH. This method obviates the need for all validators in the network to agree on creating a block. The PoH algorithm will cryptographically prove that one transaction was created before another, making its immediate implementation in the chain possible. In this way, blocks are created approximately every 400 milliseconds on the Solana blockchain, with the network theoretically approaching 50,000 to 65,000 

In addition, the costs incurred by a transaction on the Solana network are negligible, on the order of $0.00001 per transaction — or about $10 in fees for 1 million transactions.

As Serum is entirely built on Solana, it takes advantage of this blockchain’s capabilities, which are necessary for its ecosystem to function optimally.

 is a powerful, permissionless blockchain that tries to solve the scalability problems of blockchain without 

. This makes Solana a good go-to for DApps that need a high data rate. 

According to its developers, Solana can handle up to 50,000 TPS. It relies on a PoH timestamp algorithm which automatically strings together transactions that take place in fractions of a second. The Solana 

 went live in March 2020. Its primary goal is to develop a one-layer solution for DApps that’s both fast and scalable.

Why Is Solana a Good Blockchain for Serum?

As a full DEX, the primary benefit that Serum gets from Solana is interoperability. However, their relationship goes well beyond this. Here are some other benefits that Solana provides to Serum: 

 (AMMs) to facilitate decentralized exchanges between buyers and sellers. This eliminates the need for services to hold third parties’ or clients’ funds, taking advantage of smart contracts (along with user-provided liquidity) for a pair of tokens in a pool.

: It’s novel to see Serum supporting Bitcoin and Ethereum trading on its DEX, in addition to coins that use Solana’s SPL token standard. Both BTC and ETH are available on the platform as wrapped tokens in the form of SPL coins. SPL is a collection of on-chain programs run by the Solana team.

: Nodes in the Serum ecosystem can stake the project’s local SRM token. This means that nodes run hardware devices which meet Solana’s validator requirements. At the same time, they also lock coins for a certain time and perform tasks related to optimizing the protocol’s central order book and matching engine.

Almost every DeFi platform has been bogged down by slow transaction speeds. Serum aims to solve some of DeFi’s shortcomings and inefficiencies. While DeFi practices have created tremendous value, relatively long trading times are still an issue. 

Thanks to Solana’s PoH algorithm, TPS. Serum operates using the Solana blockchain to achieve super-fast TPS.

The primary goal of blockchains is to ensure complete decentralization. However, even as DeFi continues to garner mainstream acceptance, most crypto exchanges are centralized. Serum is unique because it uses centralized on-chain order books to make trading much more efficient and user-friendly thanAMM protocols such as Uniswap or PancakeSwap.

Another issue decentralized financial projects grapple with is costly transaction fees. Due to the increased use of gas resulting from high network activity, transaction fees for DApps are much higher than simple wallet-to-wallet transfers. Ethereum, the leading smart contracts platform and DeFi hub, has long struggled with limited scalability, which in turn has led to increased gas charges.

The Serum ecosystem is marked by fees and the buy-and-burn mechanism. Serum has set up a mechanism to buy back and destroy part of the transaction fees. Here’s a breakdown of the costs involved:

Buy-and-burn, therefore, takes care of two-thirds of SRM and is carried out weekly. As mentioned earlier, this mechanism gradually reduces the number of SRM in circulation, further increasing its rarity. 

Remember that Serum is a pure DEX, using the AMM model to provide liquidity. While the largest ecosystems for DeFi to date are based on either Ethereum (ETH) or Binance Coin (BNB) and their associated blockchains, Serum relies on Solana. With 50,000 TPS and minimal transaction fees of fractions of a cent, the technological course for future viability has already been set. In addition, SRM and Serum are also linked to DeFi under Ethereum via a currency bridge.

 of Serum is 50 million, against a total supply of 10 billion. Note that 90% of the total supply tokens are locked.

You can buy SRM via popular crypto exchanges. At the time of writing, it’s trading at almost $8.00 with a 

Despite the interoperability of the Solana blockchain, the Sollet open source wallet serves as an alternative to the popular 

. It allows you to connect the tokens you hold to the exchange platform of your choice, while retaining control of the digital assets. 

Serum brings a unique perspective to the world of DeFi. By combining the benefits of DeFi services and over-chain order books, Serum has designed a DEX that provides users with fast, inexpensive and efficient transactions. While it still lacks some of the features of centralized exchanges, Serum offers a much better user experience than traditional DeFi AMMs. The main differences between the SRM project/Project Serum and others are as follows:

However, not all crypto enthusiasts believe that Serum coin will survive in the long term. The model in which users provide collateral tends to be a poor experience for platform users. As a cross-chain swapping protocol, Serum can easily be forked and launched on the Ethereum blockchain, rendering Serum obsolete. 

As you can see in the SRM/USDT price chart below, this crypto has grown by over 930% since the beginning of 2021. 

By focusing on interoperability and allowing anyone to create their own decentralized exchange, Serum creates an ecosystem fully adapted to decentralized finance. With Solana as its base, Serum impresses with its low transaction costs and almost instantaneous fund transfers. Buoyed by strong support, the Serum project looks promising even as it faces strong competition.

Explained: What Is a Serum Coin (SRM)?

Grab Up to 5,000 USDT in Rewards

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