Summary of Sui Network Hits 1 Million Active Addresses
- Layer-1 blockchain Sui (SUI) Network reached 1 million active addresses within two months of its mainnet launch.
- Greg Siourounis, the managing director of the Sui Foundation, stated that the blockchain network’s success showed a growing demand for the platform.
- Since its launch in May, the project has enjoyed heavy adoption as it has incentivized developers to build on it.
Overview of Sui Network
The layer-1 blockchain Sui (SUI) Network recently hit an impressive milestone – 1 million active addresses within two months of its mainnet launch. According to Greg Siourounis, the managing director of the Sui Foundation, this success shows a growing demand for their platform. Since its launch in May, the project has enjoyed heavy adoption and incentivized developers to build on it.
Growth and Adoption
The SUI price has mostly traded below $1 since its launch in May but that hasn’t kept users from adopting and using the platform. This impressive growth is due in part to having a community and an ecosystem that are energized by turning technology into solutions. With almost 1 million active addresses already, there’s no sign that interest in this project will slow down anytime soon.
Sui is also actively encouraging developers to build on their platform with various incentives such as rewards programs and competitions. The foundation is also investing heavily in research and development projects which will help push innovation forward. By providing these resources for developers, they can create new Dapps or tools that can be used on top of Sui’s blockchain network – increasing adoption even further.