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

Blockchain

Here's everything you need to know about the Flow blockchain so you can get invested in NFT projects like CryptoKitties and NBA Top Shot.

Flow_Blockchain.jpg

, or non-fungible tokens, are unique, non-interchangeable repositories of cryptographic data stored on a blockchain to validate a digital asset. Used to represent items like videos, photos, artwork and other digital files, NFTs have exploded in popularity. Sales volumes reached 

 in the first half of 2021. One NFT project, CryptoKitties, was so popular that it overwhelmed the Ethereum network. As a result, the developer behind CryptoKitties, Dapper Labs, created a new blockchain named Flow to tackle weaknesses observed in the Ethereum blockchain. In addition to trying to solve these scalability issues, Flow blockchain also has increased transaction speeds and ease of usage, and lowered transaction costs.

Interested in what the Flow blockchain encompasses? Scroll on as we look at the Flow blockchain, how it works, and how it supports NFTs as compared to the Ethereum network.

Flow is a fast, decentralized and developer-friendly blockchain, purposely built to support 

 (DApps), games and the digital assets they run on. It’s designed for scalability and faster speed without sharding techniques, which makes it ideal for crypto-based games and NFT collectibles.

Flow promises considerable improvement in speed and throughput, which it achieves by employing a multi-node, multi-role architecture. This is a departure from the traditional blockchain architecture, in which nodes store the entire transaction history and verify all transactions. In contrast, Flow splits its network to allow the total work to be shared across the nodes, with each node validating a portion of a transaction.

 blockchain is its limited scalability. Ethereum can only handle 13–15 

, making it inadequate for large-scale usage.

This inefficiency was what led the developers of CryptoKitties to create the Flow blockchain. When the game’s popularity peaked, Ethereum could no longer handle the increased numbers of transactions. Therefore, Flow was developed mainly to solve the problem of scalability. Its prototype achieved a throughput of 1,000 transactions per second (TPS), and their next target is 10,000 TPS capability.

 (PoW) consensus protocol, in which miners jostle to create new blocks on the blockchain by being the first to solve complex mathematical problems. The winning miner shares the new block with the Ethereum network, and is rewarded for their efforts with payment in ETH. However, PoW is at the root of the Ethereum’s network’s poor scalability. With the anticipated rollout of Ethereum 2.0 (also known as ETH 2.0, or “Serenity”), the network plans the move to 

With PoS, validators stake ETH in order to be part of the transaction verification. The validators are selected randomly to add a new block to the network and be rewarded. Because these validations don’t require as much raw computing power as PoW consensus, PoS considerably reduces energy consumption.

Flow developers also seek to reduce the cost of transacting on the Ethereum network. Ethereum users pay gas fees for network transactions. The size of these fees depends on the complexity of the smart contract executed and the network availability. On some days, the average gas fee per transaction could be as high as $20. Flow charges two fees per transaction, the first starting at 0.001 FLOW (~$0.03) to create an account, and the transaction fee, starting at 0.000001 FLOW. 

Ethereum was designed to create applications that run on smart contracts. With Ethereum, a smart contract cannot be changed after its execution. However, Flow’s smart contracts can be released in a beta state. Users can either choose to work with the code in its unfinished state, while the contract authors continuously update it, or wait for the smart contract to be completed. The smart contract becomes immutable once the authors are convinced it’s completely safe and doesn’t require further work. This has the advantage of improving the security of smart contracts for end users.

As mentioned, CryptoKitties was an early NFT game developed by Dapper Labs, a Canadian company working with the Ethereum blockchain. Game players own, breed and trade virtual kitties, which are represented by non-fungible ERC721 tokens. The game’s popularity soared after its release in November 2017, quickly reaching 10,000 users — and clogging up the Ethereum network, driving gas fees sky-high in the process.

Determined to find a way around the technical challenges they faced, Dapper Labs went to work and created a new blockchain precisely optimized for digital collectibles, games and other NFTs. Dapper Labs 

 $18 million on CoinList in October 2020 through a public sale of Flow blockchain’s native token, FLOW.

With the reputation accompanying the success of CryptoKitties, Dapper Labs attracted deals with major brands: NBA, Warner Music Group, UFC and Ubisoft. In late 2020, NBA Top Shot, a marketplace for basketball-themed NFTs, spiked in popularity. And in early 2021, riding the popularity of NBA Top Shot, Dapper Labs 

 an additional $305 million, raising the company’s total valuation to $2.6 billion.

Flow blockchain’s PoS mechanism requires validators to stake FLOW tokens in order to be a part of the network. However, Flow block validation works differently from that of other blockchains. 

Flow divides its network into subdivisions to allow the total work to be shared across nodes, with each node only validating a portion of the transactions. Nodes are specialized for certain transactions. This is in contrast to the typical scaling solution known as sharding, which can result in its own scalability issues, leading to downtime.

By splitting up the validation of tasks across nodes, Flow’s blockchain aims to increase the speed and efficiency of transactions.

Flow achieves its parallelization by using a multi-node, multi-role architecture. This means that Flow divides the validation stages of a transaction among four distinct node types: collection, consensus, execution and verification.

Dapper introduced a native programming language, Cadence, for writing smart contracts on the Flow blockchain. Cadence is a resource-oriented programming language created specifically for managing ownership of digital assets like collectibles, art and cryptocurrencies on the Flow blockchain. It features a unique data model for digital assets called resources, making it easier to create, transfer and securely store digital assets. 

Digital assets in Cadence are impossible to duplicate or lose, and Cadence provides human-readable, capability-based access control. These new features ensure that Cadence can be learned and audited, making it ideal for beginning developers.

A standout feature of the Cadence programming language is that developers can release DApps in beta while updating the code. Users will be notified of the ongoing changes as they use the software. Once the developers conclude and submit the final version of the code, it then becomes immutable.

Dapper Labs developed Flow with mainstream adoption in mind. Therefore, they focused on making the interface user-friendly and simplifying the steps to start creating projects. Crypto newbies can quickly learn how to interact with the blockchain and develop DApps.

Although relatively new, the Flow blockchain is already powering enormously popular NFT projects, with more in the works.

Within three hours of its initial release in November 2017, CryptoKitties became the third-most-active smart contract on the Ethereum network. As mentioned above, its surging popularity revealed scalability issues with Ethereum. 

With the launch of the Flow blockchain, Dapper Labs was able to migrate digital collectibles from the Ethereum network to Flow. While users can still access their CryptoKitties on the Ethereum blockchain, they can also transfer them to the Flow blockchain in order to enjoy lower transaction costs and new features.

NBA Top Shot is a digital sports collectible card whose users collect highlights (“Moments”) of their favorite NBA players. These collectibles are acquired, traded and stored on the Flow blockchain. Since it was originally launched on the Flow blockchain, NBA Top Shot’s transactions are faster and cost less than for CryptoKitties.

NBA Top Shot quickly became popular and currently boasts over 600 users, including Mark Cuban, Tyrese Haliburton and other celebrities.

The VIV3 NFT is a marketplace powered by Flow to empower digital artists and creators. It was launched in January 2021, and started with works from renowned artists Anne Spalter and Ben Mauro.

In addition to the three popular NFT projects above, Dapper Labs is also working on exciting partnerships with UFC, Samsung, Ubisoft, Dr. Seuss and Warner Music Group.

Dapper Labs developed Flow from the ground up in order to support a new generation of popular games, DApps and digital assets without compromising decentralization. Not surprisingly, it has quickly become popular with developers. Here are the main advantages that the Flow blockchain has over other blockchains.

The success of NBA Top Shot and CryptoKitties validates the concept that Flow was optimized for the kind of collectible and interactive crypto experience that’s fast gaining popularity. 

The Flow blockchain’s native token is FLOW, which was designed as a means of exchange and also to serve as a long-term reserve asset for the Flow network economy. The Flow token enables developers, validators and ordinary users to participate in the Flow blockchain and get rewards.

The NFT craze shows no signs of abating, and Flow is right at the heart of it. The success of NBA Top Shot has given credibility to Dapper Labs’ blockchain, and other developers are lining up to tap in.

However, developers aren’t the only ones showing interest. NFT marketplace Rarible, which previously had exclusively focused on Ethereum-based NFTs, has announced that it will expand its operation to Flow, and has raised $14.2 million for that purpose.

Flow is expanding as well. In June 2021, Dapper Labs launched FUSD, the first U.S. dollar-backed stablecoin on Flow. Aside from venturing into stablecoins, Flow is also projecting its future as a platform for more elaborate crypto gaming experiences.

As the Flow blockchain continues to expand, holders of FLOW will be able to use the coin in various ways. These include transaction fees for validation services, a means of exchange, collateral for secondary tokens, participation in governance and deposit for data storage.

The user-friendly Flow blockchain is made for extensive scaling. It provides fast and low-cost transactions, ideal for DApps like NFT marketplaces and crypto games. FLOW is the native token that powers the network.

Flow is a high-quality platform for consumer applications such as games, collectibles and the apps they interface with. Purpose-built for NFTs, Flow has distinct advantages over other blockchains. Flow’s unique architecture enhances scalability and efficiency, allowing it to deliver the performance needed to support applications without sharding, or compromising its decentralization.

Flow Blockchain: How It Supports Your Favorite NFTs

Grab Up to 5,000 USDT in Rewards

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