The blockchain landscape is evolving at breakneck speed, and Sui is emerging as a transformative force. With its mainnet launch just a year ago, Sui has rapidly gained momentum, culminating in a landmark moment at Sui Basecamp 2024—a global gathering that solidified its position as a leader in next-generation blockchain innovation.
Held in Paris, Sui Basecamp attracted over 1,100 attendees from 65 countries, bringing together developers, entrepreneurs, and industry leaders to explore the future of decentralized technology. Over two dynamic days, participants engaged with more than 100 speakers across 44 sessions, diving deep into Sui’s advancements in gaming, DeFi, enterprise integration, and developer tooling.
At the heart of the event was a clear message: Sui isn’t just another blockchain—it’s redefining how humans interact with software.
👉 Discover how Sui is powering the next wave of blockchain innovation.
Redefining Human-Software Interaction
Evan Cheng, CEO and co-founder of Mysten Labs, set the tone during his keynote address. “We are not just here to build a blockchain, we’re not just here to build decentralized software,” he declared. “Why we are all here today is to fundamentally reimagine human and software interaction.”
This vision goes beyond technical upgrades—it’s about creating a digital environment where speed, scalability, and user experience converge. Sui’s architecture is built for the modern internet, supporting high-performance applications that can scale to meet global demand.
With record-breaking transaction speeds and sub-second finality, Sui outpaces many existing blockchains. But the innovation doesn’t stop there. The introduction of Mysticeti, a next-generation consensus protocol, promises even lower latency—achieving consensus in just 390 milliseconds in internal tests.
Dmitri Perelman, Head of Engineering at Mysten Labs, explained: “Mysticeti reimagines the consensus engine by optimizing message propagation and leader selection. In practice, this means faster finality without sacrificing decentralization or security.”
This leap forward makes Sui uniquely suited for real-time applications—from financial systems to multiplayer gaming—where speed is non-negotiable.
Breaking Technical Barriers with Move and Object-Centric Design
What sets Sui apart is its foundational architecture. Unlike traditional blockchains that rely on account-based models, Sui uses an object-oriented data model, allowing developers to treat digital assets as first-class entities. This approach simplifies complex logic and enables seamless composability across apps.
Complementing this design is the Move programming language, which prioritizes security and resource integrity. Move prevents common smart contract vulnerabilities like reentrancy attacks and ensures that digital assets behave predictably—critical for enterprise-grade applications.
Together, these innovations empower developers to build secure, scalable, and user-friendly dApps without the friction typically associated with blockchain development.
Enoki: Bridging Web2 and Web3
One of the most anticipated announcements at Basecamp was Enoki, a new service platform from Mysten Labs designed to help Web2 companies adopt blockchain capabilities without overhauling their infrastructure.
Enoki lowers the barrier to entry by offering plug-and-play tools such as:
- zkLogin: A passwordless authentication system that lets users sign in with their Google or Apple accounts while maintaining privacy.
- Sponsored Transactions: Enables businesses to cover gas fees for users, removing onboarding friction.
These features make it easier than ever for mainstream companies to integrate digital ownership, verifiable asset provenance, and tokenized incentives into their existing products.
👉 See how businesses are leveraging blockchain through seamless integration tools.
For example, a retail brand could use Enoki to issue loyalty tokens that are securely stored on-chain but managed through a familiar mobile app interface—no crypto wallet knowledge required.
Powering DeFi Growth with Native Innovation
In less than a year since mainnet launch, Sui’s DeFi ecosystem has surged, reaching nearly $700 million in Total Value Locked (TVL). This rapid growth is fueled by high-performance protocols like Navi, Scallop, Turbos, and Bluefin, which leverage Sui’s speed and low fees to deliver seamless trading experiences.
A major catalyst for this expansion came from First Digital, which announced it will bring its $3.3 billion FDUSD stablecoin natively to Sui. This move provides DeFi users with a reliable, non-volatile asset for trading and value storage—accelerating liquidity and adoption across the ecosystem.
Vincent Chok, CEO of First Digital, emphasized their confidence in Sui’s trajectory: “As a new company, we believe newer protocols like Sui will overtake established ones. We aim for a $10 billion market cap by end of 2024—with $1 billion deployed on Sui.”
Additionally, DeepBook, Sui’s native order book-based liquidity layer, revealed plans to launch its governance token, DEEP, later this year—further decentralizing control and incentivizing participation.
Gaming on Sui: The Web3 iPhone Moment
If DeFi showcases Sui’s financial potential, gaming reveals its cultural impact. At Basecamp, the Gaming Arcade gave attendees hands-on access to titles like Panzerdogs and E4C: Fallen Arena, demonstrating how Sui’s performance enables truly responsive on-chain gameplay.
But the real headline was the debut of SuiPlay0X1, a mobile gaming device developed by Playtron in collaboration with Mysten Labs. This handheld console runs a lightweight OS optimized for blockchain games and integrates directly with the Sui network.
Kirt McMaster, Playtron’s CEO, called it “Web3’s iPhone moment—but not an iPhone.” The device gives players instant access to onchain games where assets are truly owned and transferable across ecosystems.
Adeniyi Abiodun, CPO and co-founder of Mysten Labs, highlighted how Sui’s infrastructure supports this vision: “From dynamic NFTs to real-time economies, Sui gives game developers the tools to innovate without compromise.”
With partners like NHN and Baby Shark also entering the space via Sui, the foundation is set for mass-market gaming adoption.
A Global Builder Movement
Beyond keynotes and product launches, Basecamp reflected the energy of a thriving community. From first-time builders to seasoned entrepreneurs, the event fostered collaboration through workshops, networking sessions, and live demos.
Initiatives like Builder Houses and Sui Connect have already helped thousands learn Sui’s tools and experiment with new use cases—from tokenized real-world assets to decentralized identity systems.
As one attendee put it: “It feels like we’re not just building apps—we’re shaping the future of computing.”
Frequently Asked Questions (FAQ)
Q: What makes Sui different from other blockchains?
A: Sui combines an object-centric data model, the Move programming language, and a high-performance consensus engine to deliver unmatched speed, security, and scalability—ideal for gaming, DeFi, and enterprise applications.
Q: How fast are transactions on Sui?
A: Sui achieves sub-second finality with throughput capable of handling hundreds of thousands of transactions per second. The upcoming Mysticeti upgrade further reduces latency to around 390 milliseconds.
Q: Can non-crypto companies benefit from Sui?
A: Yes. Through Enoki, Web2 companies can integrate blockchain features like digital ownership and verifiable data without requiring users to manage wallets or pay gas fees.
Q: What is zkLogin?
A: zkLogin is a privacy-preserving authentication method that allows users to log in using their Google or Apple accounts while generating cryptographic proof on-chain—eliminating passwords and seed phrases.
Q: Is FDUSD coming to Sui?
A: Yes. First Digital announced it will launch FDUSD natively on Sui, bringing $3.3 billion in stablecoin liquidity to support DeFi growth.
Q: What is the SuiPlay0X1?
A: It’s a handheld gaming device built by Playtron that runs onchain games directly on the Sui network, offering players true ownership of in-game assets and instant access to decentralized experiences.
The momentum behind Sui is undeniable. From technical breakthroughs to real-world adoption in gaming and finance, Basecamp 2024 marked a turning point—not just for the network, but for the broader blockchain industry.
Builders everywhere now have the tools to create applications that were once impossible. And with continued innovation on the horizon, Sui is poised to lead the next era of decentralized computing.
👉 Join the movement and explore what’s possible on a high-speed blockchain platform.