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

Bitcoin

Crypto

Ever wonder where does the Bitcoin goes whenever you perform a transaction on the blockchain? Here are the answers you need.

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Since its creation in 2009, Bitcoin has revolutionized the world of finance. This cryptocurrency is a type of digital tender whose value fluctuates based on market demand. It's used for a variety of transactions, ranging from buying real estate to investing in 

 If you like the idea of transacting with Bitcoin, it’s useful to learn more about how its system works. This helpful guide will explain the blockchain's mechanics and explore the Bitcoin transaction process.

A Bitcoin transaction occurs whenever a party transfers ownership of a BTC token or portion thereof to another party. Unlike hard currency, individual bitcoins don't have any real-world form. Instead, they exist as lines of code recorded on a digital record called a blockchain. A transaction refers to the process of transferring the identifying code of receiving Bitcoin to another entity.

People prove ownership of Bitcoin by having its ID linked to their own personal Bitcoin address. Also called a public key, these Bitcoin addresses are like your social media username. It's used to store a record of all the bitcoins you currently own. During a transaction, you agree to send or receive a certain amount of Bitcoin. When sending BTC, you sign a transaction with a private key which essentially acts like a password and proves you have the authorization to transfer the Bitcoin to another address.

An on-chain transaction involves modifying the blockchain and officially confirming that the Bitcoin now belongs to a new owner. Once you perform an on-chain transaction, it cannot be reversed. This is the type of transaction people usually refer to when talking about transacting cryptocurrency. Meanwhile, an off-chain transaction is a private agreement by which two parties arrange to transfer bitcoins, but do not record the agreement on the chain right away.

Off-chain transactions are popular for their speed and affordability, but they require a trusted intermediary. Since there’s nothing stopping an owner from failing to transfer ownership, these types of transactions can be vulnerable to fraud.

The Technicalities of Bitcoin Transactions

Cryptocurrency transactions aren't quite as simple as just handing a person a dollar bill. Technically, most of them actually contain several different inputs and outputs. During most BTC transactions, individual Bitcoins are combined or broken up into smaller pieces.

For example, consider a case in which User A wants to send 1 BTC to User B. If User A previously received 0.75 BTC in one unspent transaction output and 0.5 BTC in a second transaction, their wallet technically contains two separate chunks of Bitcoin. To complete the transaction, the network will need to combine the two inputs of 0.75 and 0.5 BTC, and generate two separate unspent transaction outputs of 1 BTC and 0.25 BTC. User B will then get their 1 BTC payment and User A will get their 0.25 BTC in change.

Since most transactions involve fractions of Bitcoins, this process is constantly taking place in the background. Your Bitcoin wallet will handle the details for you, so it's not something you have to do manually. If you're curious about these technicalities, you can look at the public ledger to see the specific inputs and outputs for any given transaction.

What happens during the typical Bitcoin transaction? The process of valid transaction involves the following steps:

As you can see, a lot goes on behind the scenes of any standard Bitcoin transaction. However, for the standard Bitcoin participant, the process is actually very straightforward. Especially if you work with third-party exchanges or custodial wallets, conducting a transaction might be as simple as clicking on a few buttons on your screen. The program or software can then handle all the steps of the transaction for you, so you don't have to bother with the details.

Every transaction includes a few different verification stages. These are essential for overall network security. They help to keep people from stealing funds or doing anything to compromise the Bitcoin network.

The first verification any transaction undergoes is the private key confirmation. 

 is basically akin to a signature on a check or a password on an online account. Your private key is known only to you and the service providers who manage your wallet, and it's proof you have the right to use your Bitcoin. Bitcoin uses both the 

 to handle key encryption. Before putting your transaction in a block, miners verify whether your key is correct. The miners won't see your actual key, but they'll run a script that confirms whether the key you entered matches the key associated with the Bitcoin's owner.

The second verification is the block verification. 

, with each block pointing back to the block before it. Before any new block is added to the chain, miners must verify that the block's references to past blocks are accurate, and that the information in the block doesn't break any network rules. This prevents malicious actors from trying to change previous on-chain data. Block verification 

 who use computing power to solve math problems. Once a miner validates a block, it's added to the chain and your transaction is finalized.

Security Measures in Bitcoin Transactions

Since the transaction confirmation process is so democratic, transactions vary. In times when there are a lot of transactions and fewer miners validating blocks, transactions can take a while. However, if you're conducting transactions during a less busy time, the process can be quite fast. On average, transaction time is around 10 minutes. During times of extreme network congestion, it can take hours to finalize a transaction.

If speed is important, you do have the option of speeding up the transaction time. Everyone pays standard fees to finalize a transaction. When you're tired of wait times, you can pay extra. If you're willing to pay a higher fee, your transaction can jump forward in the queue and be processed more quickly.

Another option for speeding up transactions is performing them off-chain. Off-chain transactions allow users to go ahead and process their transactions at any time, and record them on the chain when it's convenient. Though off-chain transactions have some potential security issues, they're one of the most affordable ways to speed up transaction times.

For every Bitcoin transaction you make there's an associated network fee. Depending on whether you use any other service provider to facilitate the transaction, the fee can also be higher or lower than the standard network fee. Some exchanges offer perks, such as waived transaction fees for certain purchases.

The fees that Bitcoin charges vary based on several factors. They’re higher when there's more demand, and lower when demand drops. If a new trend like 

 is causing a lot more transactions, fees can skyrocket. Fees are also higher if your transaction includes more data. If you're doing something like sending multiple small amounts to several other people, expect to pay more. On average, transaction fees are somewhere between $0.50 and $2.50.

In most cases, completing a Bitcoin transaction is a simple and easy process. However, some people run into problems with rejected or unconfirmed transactions. Following are some potential issues to be aware of.

Conclusion: The Future of Bitcoin Transactions

Now that you know the working details behind transactions on the Bitcoin blockchain, it's easy to understand their popularity. These transactions allow people to securely send and receive currency no matter where they are and make it possible to purchase products online, pay people for the work they perform or invest in promising crypto trends.

As the transaction process continues to increase in popularity, there will be abundant opportunities for its growth and evolution. The future of transactions looks to include even more third-party systems, those helpful providers who offer to handle transaction details for you and simplify the whole process. Another likely trend is an increase in off-chain transactions, which speed up the network’s traffic and reduce congestion. Ultimately, these sorts of exciting advancements offer some intriguing opportunities to fine-tune the transaction system for Bitcoin and other cryptocurrencies.

Where Bitcoin Goes: How Do Bitcoin Transactions Work?

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