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

WAX, or Worldwide Asset eXchange, is a carbon-neutral blockchain designed for e-commerce transactions. Find out more about how it works in this article.

 is a web3 ecosystem for gaming and NFTs. Since its inception, the blockchain has attracted a loyal following that includes more than 13 million WAX accounts and $23 million in daily transactions.

The following is a brief guide describing WAX Blockchain to help you determine if the project is worth your investment.

WAX blockchain is hyperfocused on video games and virtual collectibles. As a result of continuous innovation in the field, it has become one of the most recognizable web3 ecosystems to provide everything a brand needs to launch a successful NFT collection. In fact, it is the most used and transacted blockchain ecosystem in the world of NFTs, DApps and video games.

To optimize the blockchain's e-commerce usability, it uses a 

 (DPoS) mechanism that’s compatible with 

. This combination of DPoS and EOSIO compatibility helps the blockchain achieve greater speed and scalability.

Currently, the platform supports over 30,000 useful 

 and marketplaces for gaming and NFTs. Its rapid development is primarily due to the backing of the parent company, 

, which was previously a leading global brand for buying and selling digital items.

It's commonly believed that OPSkins has been the primary driver for the trust that numerous high-profile gaming brands — such as Atari, Mattel, SAW and Street Fighter — have placed in WAX blockchain to promote their digital assets within the virtual gaming ecosystem.

The WAX Blockchain project was conceived by 

 in 2015. Their goal was to offer a blockchain where anyone could create, buy, sell and trade virtual items.

By 2017, the concept had attracted top gaming companies, giving these brands a stable blockchain environment in which to launch their NFT collections. Amid rising demand, some of the most prolific NFT creators and game developers pitched in with award-winning video games and DApps, which contributed to the remarkable growth. In a short period, WAX blockchain had established itself as the "King of NFTs.”

In early 2020, WAX reached the 10 million–user milestone, which it 

. At the time, the airdrop was almost ten times larger than any other NFT airdrop in history. This event was followed by the 

, the demand for William's memorabilia was so high that his 125,000 digital photographs were sold within nine minutes of the launch.

The innovation continues to this day. For instance, vIRL NFTs are one of the most celebrated products on the WAX blockchain, offering physical ownership of assets without the need for delivery. The NFT is tied to an actual physical asset. You can own it, transfer the ownership or redeem it for the physical item.

vIRL NFTs are unique because they offer a host of dynamic functionality that includes app-video game integrations, marketing tools and V-commerce capabilities. In addition, each one of these NFTs is minted on the carbon-neutral blockchain that puts the environment first, creating carbon offset NFTs.

Worldwide Asset eXchange uses a DPoS consensus algorithm which relies on a group of block producers to manage the block production. These block producers are known as WAX Guilds.

A block is produced every thirty seconds on the WAX blockchain. Only one WAX Guild is authorized to produce a particular block at any given time. To improve efficiency, each WAX Guild has a specific time in which it can produce the block. After the scheduled time, the block is skipped. To prevent block skipping, the blockchain doesn't reward WAX Guilds that only produce 50% or less of their scheduled blocks.

To increase community participation in the selection of WAX Guilds, the WAX blockchain uses a 

 which enables community members to stake, receive rewards and vote. If you have WAXP tokens in your wallet, you can connect a compatible wallet to the Ethereum bridge and convert those WAXP tokens to WAXE. Deposit both WAXE and ETH tokens into the WAXE-ETH liquidity pool in order to earn WAXE-ETH liquidity pool tokens. 

You can then proceed to stake your WAXE-ETH liquidity pool tokens in exchange for WAXG tokens and ETH rewards. These WAXG tokens can be used to vote, but you can also burn them to receive more ETH from the PiggyBank Pool in exchange.

 technology. It prevents WAX Guilds from signing two blocks at the same block height or timestamp. Anyone signing two blocks is punished and suspended by WAX token holders.

Besides relying on DPoS consensus, the WAX blockchain uses a combination of smart contracts and the WAX Random Number Generator. The RNG is used by DApp developers to introduce a random outcome for an asset. This helps solve the problem associated with traditional RNGs, which often suffer from unfair and nonrandom values.

WAX is a web3 ecosystem for gaming and NFTs. It offers everything that a brand needs to launch a successful NFT collection. For developers, the native WAX Developer Hive provides full documentation, quickstarts and code samples. For players, the blockchain is a convenient way to take charge of both their old and new digital assets.

Here are a few additional reasons why you can trust the WAX ecosystem.

The Worldwide Asset eXchange is a certified carbon-neutral blockchain. This is a distinction, because WAX is almost 

 than Bitcoin. In numerical terms, WAX mainnet uses 473.04 MWh and emits 211 tons of carbon dioxide per year, which is only a tiny fraction of what a traditional blockchain emits.

Blockchains such as Bitcoin and Ethereum rely on the 

 (PoW) consensus. As the value of BTC and ETH rise, users rely on hefty mining rigs. This heated competition produces energy equal to emissions from mid-sized nations.

Luckily, the carbon-neutral WAX blockchain produces less than 0.01 percent carbon emissions as compared to ETH or BTC. The resulting carbon credits are used to support a variety of green projects around the world. Already, WAX NFTs have helped offset almost 4 million tons of carbon emissions as compared to Ethereum.

Delegated Proof of Stake Consensus Mechanism

WAX blockchain uses a DPoS consensus mechanism, which is a combination of PoW and PoS. In the DPoS environment, you can delegate your coins to others and give them the power to validate transactions. This voting power is weighted on a proportional scale, relative to the number of tokens. With this setup, you don't need to battle for computing dominance because the energy consumption on the WAX blockchain is relatively stable.

 is a handy feature because it doesn’t require you to manage private keys, and can be accessed on both mobile devices and desktops. Apart from the obvious functions of sending and receiving funds, it can be used to store collectibles in a single place. You can also connect the WAX Cloud Wallet to 

 (DApps). The dashboard’s controls help you stake your holdings and vote for WAX Guilds.

 is a funding source where WAX pioneers and visionaries bring ideas to life. Anyone can pitch a business plan; you just need to draft a proposal for review. If you have a plan, make sure your submission includes all the documents, ideas and detailed information that will let voters thoroughly evaluate the project's feasibility.

Once the plan is submitted, everyone has the right to vote on the project. The more WAX tokens an individual has staked, the more weight their vote carries. For your project to get funding, 10% of the registered voters must vote, and half of the voters need to agree on the proposal. At any given moment, the admin has the right to give a proper reason for denial, which then terminates the project.

 provides records of individual transactions on the WAX blockchain.

When introduced in 2018, the WAX Block Explorer processed more transactions than any other blockchain. It’s also the first user-friendly blockchain to let users view transactions in a visual format. Its 3D interactive features will let you make sense of data without needing to worry about technical terms.

If you own an NFT, you can also view its 3D rendering along with ownership details, transaction records and related data.

WAX has introduced the world's first carbon-neutral NFTs. Just like traditional NFTs, these 

 are linked to physical objects. However, they're carbon offset vIRL NFTs — because when you redeem one, the National Forest Foundation plants one tree sapling for every $1 spent on NFTs. This initiative ties in with the aim of WAX Blockchain to reduce its carbon footprint until it achieves carbon negative status, having already achieved carbon neutrality.

WAX NFTs are sold on both primary and secondary marketplaces, with the majority sold on secondary marketplaces. 

 are just a few of the many secondary marketplaces where you can purchase WAX vIRL NFTs with WAX tokens.

While NFTs on primary marketplaces are limited, they're usually sold within minutes of the launch. Therefore, keep an eye on upcoming sales on the official social media channels. You can use the native WAX token or your credit card to purchase NFTs on the primary marketplace.

WAX blockchain is a purpose-built, energy efficient environment for building and deploying high-performance DApps. If you're a developer, use the Developer Hive to access in-depth tutorials, quickstart guides, samples and API references for product development.

WAX blockchain is fully compatible with EOSIO smart contracts. This means that you can deploy your EOSIO DApps on the WAX mainnet. You're also entitled to free blockchain accounts and cheaper gas fees.

As mentioned briefly, there are three variants of the WAX coin: WAXP, WAXG and WAXE.

WAXP is the protocol's utility token, while WAXE is the Ethereum ERC-20 version. The latter can be converted into WAXP at a ratio of 1,000 WAXP to 1 WAXE.

In contrast, WAXG is the platform’s governance token, earned by staking WAXE. It's given to those who stake their WAXE-ETH in the WAX-ETH liquidity pool. As mentioned above, you can either use WAXG to participate in voting activities or burn them to receive ETH.

. Its members include executives from Atari, Unity, Marvel and other prominent software companies. Members of the council offer their input on development goals.

WAX Blockchain’s road map is subject to change amid new developments. The most recent road map and updates are usually posted on the official website. In the past, the team has published yearly updates.

Some recent developments from the 2021 road map include partnering with 

, and the development of an Ethereum bridge to support 

. Accordingly, the team is actively working on making improvements to the WAX Cloud Wallet, completing existing DeFi projects and supporting upgraded variants of ERC tokens.

The WAX tokenomics model is a hybrid between WAX and Ethereum blockchains, as it aims to use the best features of both chains. This configuration helps WAX token holders because they can benefit from WAX's success in the NFT marketplace and Ethereum's success in the DeFi space.

The inter-blockchain design maintains the WAX blockchain as its core element. For instance, NFT operations, such as creating and trading digital assets, take place on WAX. However, any capital generated from NFT commercial activities is transferred to a growing network of financial services available in the Ethereum ecosystem. While WAX hasn’t surpassed Ethereum in terms of NFT trading activity, NFT growth on WAX is substantial in terms of their original plans.

WAXP is the native token of WAX. As of mid-2022, the token is trading at around $0.10. In November 2021, during the recent crypto frenzy, it touched $0.90. Since then, the price has plummeted to follow the price trajectory reflecting existing trends in the crypto market.

, its price will likely reach $0.23 by 2023. In the long term, you can expect a steady rise every year. The team at

 is also optimistic, anticipating the price to go beyond $4 by 2027.

WAXP is listed on a variety of crypto exchanges around the world, including Bybit. If you're interested in the project, here’s how you can buy it on Bybit’s exchange.

After registering, purchase WAXP using USDT as the base currency. The Bybit platform offers multiple ways to buy USDT so that you can exchange it for WAXP.

 on top of the Bybit platform. From the drop-down menu, select 

 or pick a payment method of your choice. You can buy USDT, the base currency, using a credit card, bank transfer, crypto exchange or P2P. If you have USDT in another wallet, you may also transfer it to the Bybit exchange.

After buying USDT, it's time to swap it for WAXP. To exchange USDT for WAXP, click on 

. You can either search for WAXP, or click on

Select the amount of WAXP you want, and click on 

Compared to many other high-profile crypto projects, WAX Blockchain is a thriving ecosystem that has achieved greater milestones than many of its famous counterparts. In just five years, it’s garnered support from thousands of NFT followers and well-known gaming brands.

If everything goes according to plan, WAX Blockchain will have established a practical framework for future projects. It has solid foundations, a great team, a workable road map, strong fundamentals and utility. Its carbon-neutral NFTs is an industry-first initiative likely to contribute to its notoriety.

If you're looking for a well-established blockchain that has yet to reach its full potential, WAX is a solid investment.

When it comes to gaming, NFTs and digital assets, few blockchains can rival WAX. While its initial success has been mainly attributed to the delivery of brand-partnered NFT content, the new road map has gained momentum from WAX’s partnership with Ethereum and from a growing community of DApp developers. At the moment, WAX is the most prominent web3 ecosystem for digital assets, and there are plenty of sufficient reasons to invest in WAXP.

WAX Blockchain (WAXP): A Carbon-Neutral NFT Blockchain

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards