Generative Data Intelligence

Revolutionizing Blockchain: Sui’s Mysticeti Protocol Sets Unmatched Transaction Speeds and Redefines Data Intelligence

Date:

Innovative Data Intelligence

Sui Establishes a New Benchmark for Blockchain Transaction Speeds – Technology Startups

Date:

Grand Cayman, Cayman Islands, May 21, 2024, via Chainwire

Scheduled for Mainnet launch this summer, Sui's innovative Mysticeti protocol reduces consensus latency to just 390 milliseconds. Sui, a leading Layer 1 blockchain known for its exceptional performance and limitless horizontal scalability, has revealed the successful implementation of its Mysticeti consensus protocol on the Sui Testnet. This major advancement cuts the consensus time on Sui’s public Testnet by 80% to 390 milliseconds, without sacrificing the protocol's top-tier throughput. This remarkable achievement establishes Sui as the fastest consensus layer in the blockchain industry.

Mysticeti, which emerged from extensive studies on Byzantine fault tolerance (BFT) consensus models, marks a major progression beyond the Narwhal-Bullshark algorithms that Sui introduced to its Mainnet a year prior. This innovation has led to remarkable improvements in transaction speeds and has decreased the CPU demands on validators. As a result, Sui's already notable low latency performance now applies to every type of transaction within the network.

Sui's distinct object-oriented framework allows the network to handle transactions in various ways depending on the transaction's specifics and the objects involved. In Sui, transactions that deal exclusively with "owned objects," like peer-to-peer transfers, bypass the need for consensus. These transactions are executed quickly through a fast-path process. Conversely, transactions that involve a common shared object, such as those in marketplaces, auctions, or collaborative gaming assets, do require consensus. Traditionally, this requirement led to greater processing delays. However, Mysticeti addresses this issue by employing an enhanced version of Byzantine Fault Tolerance (BFT) consensus for shared object transactions. The design of Mysticeti minimizes communication between validators and maximizes the use of network bandwidth to ensure high throughput.

"Mysticeti signifies a significant breakthrough, not only for Sui but for blockchain technology overall," stated George Danezis, Co-founder and Chief Scientist of Mysten Labs, the originator of the Sui Network and a leading figure in global research on BFT consensus. "It minimizes consensus latency to what we believe are its lowest possible levels, while still maintaining high capacity and low computational costs. Additionally, it enables transaction processing to be faster than consensus within the same framework, a feature that is unique to Sui. Mysticeti is yet another example of how Sui is expanding the possibilities of blockchain technology."

The outcomes observed on the Testnet have been outstanding, showing that transactions can be committed with 80% less delay compared to Narwhal. Mysticeti's improvements greatly simplify the process and make better use of resources, enabling the Sui network to process tens of thousands of transactions per second with latencies of under one second.

These developments are essential for Sui as it solidifies its place as a leader in blockchain speed and scalability, ensuring a smooth experience for both developers and users on a large scale.

"The release of Mysticeti is the outcome of a successful partnership among our research team, engineers, and the validator community," stated Dmitri Perelman, who leads Engineering at Mysten Labs. "Our experiences with developing and refining earlier consensus systems in real-world applications gave our researchers the background and motivation needed to devise the new protocol. Once the initial Mysticeti prototype showcased clear performance advantages, the engineering team fully committed, and now, with the validators' backing, the next-generation consensus is set to be deployed to the Mainnet within a few months."

Kevin Nelson, Co-Founder of Aftermath Finance, remarked, "Mysten's Mysticeti has demonstrated that a DAG-based architecture can exceed current leading standards in both consensus throughput and, critically, latency. At Aftermath, we are thrilled to witness Mysticeti's deployment on the testnet, and even more excited for its upcoming Mainnet release when it will become available to our users. Additionally, we anticipate leveraging Mysticeti’s innovative design to enhance the overall user experience on Aftermath."

Greg Siourounis, the Managing Director of the Sui Foundation, stated, "Sui has always prioritized low latency and high transaction speeds, making it a prime choice for developers. With the introduction of Mysticeti, the developer experience is further enhanced. This advancement highlights our continuous dedication to innovation, opening up new opportunities for the variety and quality of decentralized applications that can be developed on Sui."

The recently released paper, “Mysticeti: Low-Latency DAG Consensus with Fast Commit Path,” outlines the major advancements of Mysticeti, demonstrating the scalability of this novel technology and is open for examination.

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Sui Foundation

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