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

Crypto Investment Guide

Anyone who has even a passing interest in cryptocurrency has probably heard the word ‘blockchain’ bandied about. But how does it work? Read all about it here.

AdobeStock_300231583-1024x844.jpeg

Anyone who has even a passing interest in 

 has probably heard the word “blockchain” bandied about. No doubt, many of those who know the term also know that blockchain technology is behind Bitcoin and many other cryptocurrencies. But what else do you know about blockchain? How does it work? What uses does it have? And what about blockchain’s prospects in the future? All is revealed in this article.

Blockchain technology can be defined as a system of decentralized digital public ledgers that store transactions. This transactional information is stored in chains of blocks — hence the name “blockchain.” These computers on the network share this information through cryptography. 

Blockchain is used for a variety of functions. In addition to cryptocurrency, it’s also used for things such as healthcare, 

, supply chains, and electronics. Let’s take a look at how blockchain works.

All information on a blockchain is stored in digital files called blocks. These blocks aren’t owned by any central entity; hence, they are decentralized. Several elements make up the workings of the technology behind blockchain.

Nakamoto proposed a “purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.” On January 3, 2009, the genesis block on the Bitcoin blockchain was created. This was the first step in revolutionizing traditional, centralized bank-focused financial systems as we know them.

Nodes are computers that connect to each other to share information through the public ledger that is a blockchain network. 

Each node stores a copy of the blockchain and verifies every transaction made on it. Information tampering is a rare occurrence, as the information and records for every node on the blockchain would need to be altered.

These nodes play an important part in the Bitcoin mining process because, in the absence of any central entity, it is the job of these nodes to align in agreement to confirm the validity of a transaction on the network. Only when this verification happens can a block be added to the blockchain, and miners get their rewards (on the Bitcoin blockchain, this is currently 6.25 BTC after the most recent Bitcoin halving.) These nodes “agree” to validate transactions through consensus mechanisms, generally 

 (PoS). PoW consensus is used by Bitcoin and many other cryptocurrencies, such as Litecoin, which is a “fork” or spin-off of Bitcoin.

While PoW and PoS are the main two consensus mechanisms in crypto, others exist as well. 

: This is different from POS in that delegates are effectively elected to mine new blocks and ensure consensus rules are maintained. If they fail to do their job properly, they can be voted out, the same way politicians can be. Cryptocurrencies such as EOS use this consensus mechanism.

The process of cryptographic hashing is fundamental to ensuring the security of a blockchain. It involves one-way encryption of data to a unique piece of text and is a process that cannot be reversed. On the Bitcoin blockchain, the result of the hashing process is a 64-character piece of text called a hash.

As each unique piece of digital text cannot be reversed to decipher the original data, blockchain is considered to be very safe from hackers. On cryptocurrency blockchains, hackers can launch something called a 51% attack, where they attempt to gain more than half the hash rate (computer power) of a blockchain’s network. If they are successful at doing this, they can block transactions — or even reverse previously confirmed transactions, meaning they can “double-spend” coins (spend a coin twice). 

Although the Bitcoin network has never been subjected to a successful 

, other cryptocurrencies have fallen prey. One such example occurred in May 2018, when the Bitcoin Gold network succumbed to a 51% attack, resulting in the loss of $18 million worth of its currency. Thankfully, such events are rare, due to the sheer amount of hash power needed to conduct an attack. While the hacking of a blockchain isn’t impossible, it’s very unlikely.

We all know cryptocurrencies use blockchain, but what else in the world benefits from the wonders of blockchain technology?

As we’ve already seen, blockchain forms the fundamental underpinning of what defines a cryptocurrency: a decentralized asset, free from the shackles of a central entity such as a bank or governmental institution. Bitcoin may be the most popular cryptocurrency, but really it’s just the tip of the iceberg. A multitude of coins — from 

 tokens — are in existence today, thanks to the technology invented by Satoshi Nakamoto.

Sensitive medical data from patients’ electronic health records (EHRs) has been the target of 

, used to steal or impersonate identities, or sold to third parties.

Through advanced cryptography, blockchain can put an end to this. Records can be added to a trusted and secure blockchain, becoming longer over time. When new records are added, a consensus is needed — thus making the chain very difficult to hack into or break.

 is one company that’s using blockchain to give patients complete control of their medical data. A decentralized mobile platform, allows patients to manage their health information and sell it to third parties, if they wish, in return for tokens.

There are also shortcomings to EHRs, in terms of doctors accessing patient information that comes from another institution. This is because in some countries, different manufacturers often provide different EHR software for various institutions, and there isn’t interoperability between them. Although a single, comprehensive system would be beneficial to doctors and patients, this would reduce companies’ ability to charge exorbitant fees. 

Attempts have been made to bring together EHRs in many countries under one system, but this has often proved to be a doomed process. In the U.K., an attempt to create a linked patient data system for the whole of the 

 was abandoned in 2011, costing nearly £10 billion.

 in which patients’ information would be transmitted safely and securely to different financial institutions, becoming accessible as soon as new data is added to it. 

It must be noted that blockchain won’t replace the EHR itself: it runs seven transactions a second, compared to the EHR’s capacity of up to 12,000. It will, however, be able to act as an extra layer for additional functions, and prove that records are complete and unmodified, recording patient consent when it comes to data sharing.

A smart contract works the same way any contact would, but through a blockchain, which takes away the need for any third-party intermediaries. Only when preset conditions (which have been set in the computer code of the blockchain) are met does a transaction within the contract take place. Smart contracts were first established on the Ethereum blockchain in 2015. Today, they have many uses, some of them listed below.

Smart contracts can make insurance claims a quicker and cheaper process by helping to clearly define when objective criteria have been met. This may not be the case when these decisions are left up to lawyers as this may make the process more subjective, and in turn, lead to a longer and more expensive claim process. 

Supply chains can become easier to manage through the use of smart contracts. As with insurance claims, smart contracts can take away any subjectivity, making it easy to verify if set targets are being met within the blockchain. 

Within healthcare, smart contracts have the potential to revolutionize the complicated 

 in the U.S. by cutting out middlemen, thus considerably cutting costs for consumers.

Smart contracts can make buying and selling a house a lot less stressful. By cutting out the need for a middleman, such as a housing agent, buyers can handle transactions with a potential seller by themselves. Once the conditions of selling a house are met, the purchasing of a property can be completed solely through the use of a smart contract. 

Believe it or not, the wonders of blockchain technology have even infiltrated the video game industry. In 2017, 

 called CryptoKitties. The premise of the game is that you breed, buy and sell virtual cats. It may not be everyone’s cup of tea, but what made this game so eye-opening was that it operated on the Ethereum blockchain. 

Since then, blockchain technology has been increasingly adopted in the video game industry, albeit this is still in its infancy. Collectible card games have led the way in adopting the technology. One such example is God’s Unchained, in which gamers can trade collectible cards online by using an Ethereum wallet such as 

The exciting reality is that the potential of blockchain technology has just begun to be tapped. It really is only the beginning of this journey. Let’s look at some ways in which blockchain technology may develop and affect our lives in the near future.

Blockchain technology can help to alleviate poverty and corruption by giving 

Besides, blockchain technology also provides tremendous growth potential for small businesses in developing countries, with the decentralized nature of cryptocurrency allowing many of them to truly operate on a global scale for the first time. 

This is something that is already starting to be implemented. However, it’s likely that in the future, the move toward maintaining online identities through blockchain technology will excel. By storing personal database information on a public, distributed ledger, the risk of identity fraud will be greatly reduced. 

As already noted, blockchain holds massive potential for changing the way healthcare records are met. This capability is likely to extend to government, employment, tax, and even voter records. 

As we’ve mentioned, at the heart of blockchain technology is its decentralized, transparent nature. As the technology becomes more widely adopted, this is likely to be reflected in the way companies operate. It will become harder and harder to conceal information, which can only be good news for consumers and the public in general. 

The internet has changed the way we listen to music — and, from the artist’s point of view, not necessarily for the better. Since Napster burst onto the scene in the late ’90s, music piracy has been rife.

Even with the advent of legitimate streaming services such as Spotify, income for artists has paled in significance compared to the days when fans bought CDs (and, going further back, LP records and cassette tapes) in droves. But could blockchain shift the pendulum’s swing?

The transparent nature of blockchain could reveal, for all to see, the royalties owed to artists. Streaming services would no longer be able to shortchange these artists. In addition, blockchain technology could help clarify any intellectual property rights issues artists may have by unambiguously indicating who owns the rights to specific songs. 

Simply put, blockchain is a revolution that is only just getting started. It is changing the traditional ways we’re living our lives and has already revolutionized the way we think about money as a digital asset. In the years to come, it will revolutionize the way we think and act in many other areas of our lives. 

Not only does blockchain anonymity offer an extra level of protection for information, but it also offers convenience for accessing information as never before. Blockchain gives access to information, freely available to everyone.

What Is Blockchain? A Beginner's Guide

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