Sui Sets The Standard for Blockchain Speed with New Mainnet Consensus Mechanism

Grand
Cayman,
Cayman
Islands,
August
6th,
2024,
Chainwire

Sui’s
new
Mysticeti
protocol
cuts
consensus
latency
to
390
ms,
elevating
its
industry-leading
tech
and
developer
stack
to
new
highs.

Sui,
the
pioneering
Layer
1
blockchain
known
for
industry-leading
performance
and
infinite
horizontal
scaling,
today
announced
the
successful
deployment
of
Mysticeti
on
Sui
Mainnet
after
a
successful
run
on
Testnet.
This
innovative
protocol
cuts
consensus
latency
to
an
astonishing
390
milliseconds,
establishing
Sui
as
the
fastest
consensus
layer
in
the
industry.

Developed
from
extensive
research
into
Byzantine
fault
tolerance
(BFT)
consensus
mechanisms,
Mysticeti
represents
a
significant
advancement
from
Narwhal-Bullshark,
the
consensus
algorithms
launched
with
Sui
Mainnet
over
a
year
ago.
Mysticeti
achieves
unprecedented
transaction
speeds,
extending
Sui’s
impressive
low
latency
performance
across
all
transaction
types
on
the
network.

Sui’s
object-oriented
architecture
allows
the
network
to
process
transactions
differently
based
on
the
characteristics
of
the
transaction
and
the
objects
involved.
Transactions
on
Sui
involving
only
“owned
objects,”
such
as
peer-to-peer
transfers,
bypass
the
need
for
consensus,
following
a
fast-path
execution
that
completes
in
a
shorter
time.
Now,
with
Mysticeti,
transactions
involving
shared
objects,
such
as
those
in
marketplaces
or
collaborative
game
assets,
are
processed
using
an
optimized
version
of
BFT
consensus
that
results
in
lower
latencies
nearly
akin
to
those
of
owned
object
transactions.
Mysticeti
minimizes
cross-validator
communication
and
fully
utilizes
network
bandwidth
to
maintain
high
throughput.

Live
on
Testnet
for
the
past
three
months,
Mysticeti’s
remarkable
results
–
including
an
80%
reduction
in
latency
–
generated
significant
buzz
within
Sui’s
developer
community
and
a
broad
desire
to
see
the
update
pushed
to
Mainnet.
With
the
update
now
live,
the
Sui
Network
can
handle
tens
of
thousands
of
transactions
per
second
with
end-to-end
latencies
well
below
one
second.

“Mysticeti’s
successful
deployment
is
a
testament
to
the
collaboration
between
research
and
engineering,
and
the
validator
community
that
has
integrated
this
new
consensus
mechanism,”
said
Dmitri
Perelman,
Head
of
Engineering
at
Mysten
Labs.
“Mysticeti
is
a
next-generation
consensus
protocol
that
sets
a
new
standard
for
blockchain
transaction
speeds
and
puts
Sui
at
the
forefront
of
our
industry.”

Kevin
Nelson,
Co-Founder
&
CTO
of
Aftermath
Finance,
which
created
a
leading
DeFi
protocol
on
the
network
said,
“Mysticeti’s
shift
to
minimizing
latency
for
the
general
case—shared
object
transactions—marks
a
significant
advancement
across
many
sectors
on
Sui,
particularly
within
the
Sui
DeFi
ecosystem.
The
rollout
to
Mainnet
has
already
begun
to
show
tangible
results,
with
noticeable
latency
reductions
across
our
entire
product
suite.
At
Aftermath,
we
are
excited
to
leverage
Mysticeti’s
full
capabilities
to
deliver
more
efficient,
lower
latency
products
to
market.”

Rabeel
Jawaid,
Co-founder
of
leading
derivatives
exchange
Bluefin
said,
“On-chain
settlement
latency
just
dropped
significantly
on
Bluefin
with
the
Mysticeti
upgrade!
P50
consensus
latency
currently
is
just
under
400ms
and
E2E
client
latency
when
measured
via
a
fullnode
is
under
1s
for
P50,
which
as
far
as
I
know
is
the
fastest
in
Web3
right
now
–
especially
at
scale
with
parallelization.
With
this
upgrade,
the
trading
experience
on
Bluefin
has
already
become
more
seamless
for
retail,
and
our
institutional
partners
have
started
to
scale
their
flow
and
liquidity
on
the
platform.”

Bonkman,
the
pseudonymous
Founder
of
Hop,
a
DEX
aggregator
on
Sui
said,
“Hop
allows
users
to
interface
with
Sui
DeFi.
This
makes
it
dependent
on
Sui’s
consensus
mechanism
and
before
Mysticeti
swaps
took
roughly
2-3
seconds.
Now,
nearly
every
single
swap
takes
less
than
1
second
to
execute
and
reach
finality.
In
all
of
web3,
there
has
never
been
a
better
DeFi
experience
that
is
present
today
on
Hop
via
Mysticeti.”

Contact

Sui
Foundation
[email protected]