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

DeFi

Taiko leverages ZK-rollup technology to enhance Ethereum’s scalability and efficiency while maintaining its core principles of security and decentralization.

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's well-known scalability issues stem from its inability to increase network capacity while maintaining focus on its core principle of decentralization and security. Enter 

 solutions: protocols built on top of existing 

 to enhance scalability and efficiency while maintaining security. 

This article unpacks Taiko, a Layer 2 scaling solution that stands out for its full compatibility with Ethereum. Learn how this cutting-edge 

 makes Ethereum’s blockchain more efficient and user-friendly for 

 developers and users, ensuring its dominance as a global settlement network.

 is a fully open-source, Ethereum-equivalent ZK-rollup scaling solution designed for decentralized, secure and permissionless operations.

The Taiko project is the brainchild of a dedicated team led by Daniel Wang and Zurong Lam of Taiko Labs. It was motivated by a need to scale Ethereum with a robust Layer 2 solution that could offer Ethereum-equivalent capabilities without compromising on decentralization, security and permissionlessness. 

Work started in the first quarter of 2022, with efforts concentrated on creating 

 circuits, an L2 rollup node and the protocol's 

. The project aligns with the vision of Ethereum researchers, such as Vitalik Buterin and Barry Whitehat, who proposed ZK-rollups in 2018 as a means to enhance Ethereum's scalability and efficiency without giving up its decentralized nature.

Taiko is designed to solve the foundational challenges of scalability and high transaction costs on the Ethereum network. It leverages ZK-rollup technology to significantly boost transaction throughput while slashing fees, all without compromising Ethereum's essential principles of security and decentralization. 

This solution is particularly important given the congestion and high gas fees resulting from the popularity of applications and tokens on Ethereum’s network. Taiko's goal is to enable a more efficient and seamless experience for DApp developers and users, ensuring that Ethereum's potential as a global settlement network is fully realized.

Taiko aggregates numerous Ethereum transactions and compiles them into a single batch. It then generates a 

 for this batch of transactions. This proof is a cryptographic method that allows one party to prove to another that a statement is true without disclosing any information beyond the validity of the statement itself.

The bulk of computational work, including the execution of smart contracts and transaction verification, is performed off-chain. This system means Taiko’s infrastructure, not the Ethereum Mainnet, exclusively handles the actual computation and state storage. The ZK-proof is then submitted to the Ethereum blockchain, where it’s verified. This step ensures that the batched transactions are valid and follow Ethereum's rules. Once the proof is accepted, the transactions are considered final. Taiko adopts Ethereum's security model, as the ZK-proof verification process is anchored to Ethereum's decentralized 

Taiko significantly increases the number of transactions that can be processed per second on the Ethereum network by processing transactions off-chain and only storing proofs on-chain. This method dramatically reduces transaction fees, commonly known as 

, since the computational load is shifted off-chain. Taiko is designed to be fully compatible with Ethereum, meaning developers can deploy their existing DApps on Taiko without any modifications. This compatibility extends to both Ethereum's tooling and its smart contract languages.

Despite the off-chain computation, Taiko maintains Ethereum's decentralization and security guarantees. It doesn’t introduce additional trust assumptions, and leverages Ethereum's validator network for sequencing transactions. 

The Taiko Bridge is a mechanism that facilitates secure asset transfers between the Ethereum Mainnet and Taiko's Layer 2 network. This bridge is crucial for users to access Taiko's features and services. 

Crypto assets moving from Ethereum to Taiko are securely locked on the Ethereum blockchain to prevent 

 or tampering. A corresponding representation of these assets is then created on the Taiko network. This way, the assets can be used within the Taiko ecosystem.

The bridge applies robust security measures to ensure the integrity of these transfers. It guarantees that Taiko's assets accurately reflect Ethereum's locked assets, maintaining consistency across both networks. 

The Swap feature allows users to trade various tokens directly with each other through an intuitive DApp. This user-friendly platform makes navigating and executing trades seamlessly easy for even those new to 

Taiko's Swap functionality supports many tokens, as well as diverse investment strategies and preferences. It runs on smart contracts and ensures decentralization by removing the need for a central authority. Predefined rules guarantee fairness and transparency in every transaction.

Taiko's infrastructure is optimized for high throughput and low latency, meaning swaps are processed quickly and efficiently, thus minimizing wait times. It also aims to keep transaction fees low, making it more economical than traditional exchanges or other blockchain networks.

Taiko's Hekla Explorer is a sophisticated tool that enhances the transparency of its network. A window into the Taiko blockchain, it allows users to peer into the details of contracts and transactions. This enables them to follow the trail of transactions in order to understand the historical flow of activities on Taiko’s blockchain. It also informs users about the network's current status, which is essential for those relying on its stability and performance.

The Hekla Explorer notably confirms the validity of ZK-proofs, which are foundational to the network’s trustworthiness because they verify transactions are true and correct without exposing any private information. This verification process is at the heart of Taiko's commitment to security and privacy. It ensures that individual data remains confidential, even as the blockchain operates transparently.

 began on May 22, 2024, offering 5% of the initial token supply for eligible users to claim. Users can check their eligibility on the 

 within seven days and, if eligible, they have one month to claim their TAIKO tokens.

Eligible participants include Taiko proposers, provers, bridgers, users, developers, GitHub contributors and certain members of the 

 community. For those who don’t qualify for this airdrop, Taiko's Trailblazers program provides alternative opportunities to earn rewards, with more details to be announced soon.

The Taiko project is progressing steadily toward its goals, with its community eagerly anticipating the Taiko Mainnet launch, previously scheduled for Q1 2024.

TAIKO is Taiko’s native token. Integral to the network's operation, it serves as the primary medium for transaction fees, governance and for incentivizing various network participants. TAIKO's tokenomics are designed to ensure balanced distribution and sustainable ecosystem growth. 

The total supply of TAIKO tokens is capped at 1 billion, allocated as follows:

Looking to obtain Taiko tokens? Bybit now offers 

. To get started, you’ll first need to 

There are two pools available — the Retail Pool and Whales Pool — and all Bybit users are eligible to subscribe to both pools simultaneously.

Cryptocurrencies are generally volatile, and investing in a crypto project depends upon your personal risk tolerance, investment goals and the problem the project aims to solve. For TAIKO, the project's ambitious objectives — sufficiently enhancing scalability and reducing transaction costs on the Ethereum network, innovative use of ZK-rollup technology, and a strategic road map for future development — are factors that could make it a promising prospect. If you’d like to have a go at it, make sure you understand all of the following: 

Taiko is a promising project designed to scale Ethereum while preserving Ethereum’s security and decentralization. With unique features and a strong development team, Taiko has the potential to become a leading Layer 2 solution within the Ethereum ecosystem. However, as with any investment, it’s important to 

 both the potential risks and rewards before investing in TAIKO or any other crypto token.

Taiko (TAIKO): A Decentralized Ethereum-Equivalent ZK-Rollup

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards