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

web3

Explainers

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GameFi

Kroma (KRO) introduces a sustainable Layer 2 rollup optimized for web3 gaming, delivering low-cost, fast transactions on Ethereum.

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Gaming is one of the fastest growing niches in the crypto industry, but further growth of 

-based games and gaming platforms is hampered by network congestion, poor scalability and high transaction fees on 

 — a blockchain that is frequently the default choice for 

 (DApp) developers. To provide a smooth gaming experience, the underlying platform needs to feature near-instant transactions, low 

 and affordability. Unfortunately, Ethereum often struggles in all of these areas.

 (L2) rollup solution dedicated to web3 gaming that aims to address the speed and cost inefficiencies of the Ethereum 

 (L1) blockchain. Using a combination of optimistic and 

 features, Kroma features two-second block times and gas fees of tiny fractions of a cent. Having launched its mainnet in September 2023, Kroma has already built up a young but thriving ecosystem of DApps, not only in the niche of gaming but also in 

 (EVM)–equivalent Layer 2 rollup platform linked to the Ethereum blockchain that uses a combination of optimistic rollup and ZK proof technologies. 

Built using the OP Stack rollup development framework, Kroma is part of the 

 (OP) Superchain network, an ecosystem of rollup chains based on OP Stack. Kroma aims to provide a highly scalable and low-cost environment for web3 game developers and users.

The platform's mainnet was launched in September 2023, and already boasts over 70 active DApps (as of early November 2024). 

 apps make up about one-third of these, with the remaining ones primarily focused on NFTs, DeFi and infrastructure.

Kroma offers gamers and developers a wide range of user-friendly tools and apps. One of these is 

, a solution that lets you seamlessly deposit crypto assets from the Ethereum Mainnet to Kroma and withdraw from Kroma back to Ethereum. Another one is Blockscout, a versatile blockchain explorer that provides detailed statistics for hundreds of decentralized networks, including Kroma's own mainnet and testnet, Ethereum, Optimism (OP), Base (BASE), Immutable X (IMX), Gnosis (GNO) and more.

There are also over 20 active gaming apps from a variety of genres represented on Kroma. One of the more popular apps is 

, a game that allows you to earn points by exploring galaxies and doing exercises such as squats, combining fun with fitness. Another one is 

, an omnichain artificial intelligence (AI) strategy game integrated with DeFi features.

Kroma was launched by Lightscale, a blockchain development outfit founded by Taekyu Park and Derek Junyoung Chang. Lightscale is a subsidiary of Wemade, a South Korean game development giant and one of the leading Asian gaming companies.

There are four primary network actors on Kroma — validator nodes, full nodes without block validation responsibility, sequencers and end users. End users interact with the Kroma L2 network directly, though they also have the option to utilize Ethereum to move assets between the L1 blockchain and Kroma.

The sequencer is a critical node that batches and organizes the L2 off-chain transactions into blocks and submits the processed blocks to the L1. Validator nodes are responsible for verifying the integrity of transactions and blocks. Kroma validators can also submit zero-knowledge 

to challenge a block's validity on L1. In addition to validators, there are also full nodes without block processing responsibility who read transaction data and outputs, and act as part of the overall 

Using this setup, Kroma can deliver exceptional performance in terms of speed and costs. Transaction blocks on the platform are finalized within two seconds, while the average 

 on the network is small fractions of a cent, a stark contrast with Ethereum's average fee of around $3 (as recorded on Nov 2, 2024).

Transitioning From Optimistic Rollup to ZK-Rollup

Although the Kroma network was built using the OP Stack, a popular framework for 

, it has modified the default OP Stack setup to incorporate ZK proofs to provide a more robust and fault-proof system. Normally, transaction blocks processed on Kroma use optimistic validation, i.e., they’re considered valid unless a validator raises a challenge for a specific block, questioning its validity. Additionally, Kroma uses ZK proofs if a block's validity is challenged. The proofs serve as a backup mechanism to help process transaction blocks as efficiently as possible in case of potential validity challenges.

While the platform currently represents a mixture of optimistic and ZK validation, Kroma aims to eventually move to a universal ZK-rollup based on ZK proofs as its only validation mechanism. Despite the move to a ZK-based proof system, the platform will remain compatible with the Optimism Superchain. Thanks to the modular nature of the OP Stack technology, ZK proof–based rollups can also be part of the Superchain.

 solution. Using it, you can deposit Ether (ETH) and various liquid staking tokens (LSTs), such as stETH and eETH, into a vault in order to receive Spectrum's spETH liquid restaking token. The vaults are hosted on the 

 DeFi platform. spETH is locked in these vaults in the form of weETH tokens, earning you additional yields. While weETH earns you yields through the vault, the spETH that backs it can simultaneously be used to accrue reward points from three DeFi platforms — Kroma, ether.fi and 

Despite the somewhat convoluted design — which is definitely not unusual in the world of DeFi — Spectrum's liquid staking and restaking services can be a great way to earn additional yields and loyalty points on several DeFi platforms using the same underlying investment.

 (KCU) is designed to attract users from across the Kroma ecosystem to participate in a common gamified environment. In KCU’s gamified environment, hosted on the Kroma network, you can mint your own Kromans, dwellers of the Universe; complete a variety of quests to earn Ore, a resource used to reveal Mystic Boxes; and use Mystic Boxes to reveal additional gear and items to equip your Kroman NFTs. While participating in the KCU and completing quests, you can also socialize with other players through their Kromans. Participation in the KCU also gives you opportunities to qualify for KRO airdrops.

 is a solution designed to help any user contribute to the block validation process on Kroma Layer 2 and earn a share of block rewards. This staking format is possible thanks to Kroma's 

 (DPoS) block validation procedure. KGH was launched in late October 2024.

Holders of Kroma's native cryptocurrency, KRO, can 

 their funds on their preferred validator to help secure the network's operations, earning a share of block rewards commensurate with the amount they stake. Each validator node charges a small commission on the total amount earned by a delegator. The rate of commission varies between validators, typically ranging between 3% and 10%.

Validators themselves stake KRO on Ethereum to gain the right to process transaction blocks. Kroma claims that there have been more than 350 nodes registering on the network as validators since the platform's launch. However, as of Nov 3, 2024, there are only 13 validators to whom you can delegate your assets through the 

 interface. These are mostly members of the Kroma Security Council, which we'll cover in the next section.

Another group of users who can take advantage of staking opportunities on Kroma is that of holders of KGH NFTs, an NFT collection issued by the project that sold out by January 2024. However, these NFTs can still be bought in the secondary market via 

’s NFT marketplace. Using these NFTs to back up a validator earns you boosted staking rewards on top of the standard rate.

 is a group of key network actors whose main responsibility is to jointly act as the final layer of security for the platform's proof system. If there are inconsistencies or problems with Fault Proofs raised on the network, council members are expected to resolve these.

Members of the council are also involved in decision-making processes related to Kroma's 

 on L2 and L1. Kroma currently lists nine organizations as members of its Security Council. Among these are the nonprofit Kroma Foundation, as well as Animoca Brands, one of the giants of web3 gaming.

Kroma's native cryptocurrency, KRO, is an 

 asset with a total supply of just over 875 million and a maximum supply set at 1 billion. KRO is envisioned to power three key functions on the network — gas fee payments, staking and on-chain governance. The token was launched on Oct 30, 2024, over a year after Kroma's mainnet introduction. Its supply allocation shares are shown in the chart below.

 is designed to reward various groups of early adopters and active participants on the network. Besides this airdrop, you can also take advantage of the 

 between Oct 29, 2024, 10AM UTC and Nov 12, 2024, 9AM UTC via Bybit's 

 program. Under the terms of the airdrop campaign, you can receive a share of the 6.6 million KRO prize pool by following Bybit’s and Kroma’s accounts on X, reposting the campaign announcement with comments, depositing at least 1,000 KRO to your Bybit account and trading at least 100 USDT worth of KRO on Bybit's Spot market. You can also earn KRO rewards by inviting friends and new users to join Bybit.

Web3 gaming depends upon the ability of blockchain platforms to provide the necessary levels of speed, scalability and cost-efficiency. With its highly efficient rollup setup, Kroma hopes to become a key enabler of blockchain-based gaming. Fast transactions, two-second block times, minuscule gas fees and the security of ZK proofs make Kroma a potentially serious player within the web3 gaming niche.

Having operated without a native token for over a year, Kroma finally launched KRO in late October 2024. This new token might significantly boost the platform's appeal and recognition among crypto gamers, developers and investors. However, these projections are currently assumptions, and only time will tell if this new platform progresses into an influential web3 gaming sector player.

Kroma (KRO): The Layer 2 Supercharging Gamified Web3

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards