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

Blockchain

If you're into crypto, you may well have heard of hard forks. But what are they, and are they important? In this piece, we'll discuss what hard forks are and more.

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, you may well have heard of hard forks. But what are they, and are they important? In this piece, we’ll discuss what hard forks are, why they happen, the difference between hard forks and soft forks, and why they are an important part of the 

Additionally, we’ll also discuss some examples of hard forks that have happened, such as 

 splits a blockchain into two, with a change in the blockchain’s code meaning there are now two versions.

A hard fork creates two versions of the blockchain which are not compatible with each other. This means that nodes running on the new version of the blockchain will not recognize transactions being made on the old version, and vice-versa. All nodes on the blockchain must agree to the change for the hard fork to happen.

Generally, blockchain hard forks occur as a way to meet the needs of the community using/

 a particular cryptocurrency. They may be necessary because of faults on the older version of the software, to add new functionalities, or because of disagreements among the cryptocurrency’s community over the direction that the cryptocurrency is headed.

Indeed, at the time of writing, many in the world of crypto are looking forward to the long-awaited 

hard fork, which is set to deliver several upgrades to Ethereum 2.0, such as giving nodes the capability to run on mobile devices.

On the other hand, hard forks can also be a part of the promotion campaign to attract attention to a new cryptocurrency. For example, everyone who owned Bitcoin in October 2017, were eligible to bag the same amount in Bitcoin Gold in the way of an 

. This was to mark the Bitcoin Gold hard fork.

A hard fork can occur in any blockchain, not only in the Bitcoin network or on Ethereum, for instance, as was the case with the 

There are actually various reasons that hard forks can happen, aside from the reasons mentioned above.

Another reason a hard fork occurs is to refund users if a security breach or hack happens on a blockchain network. In such an occurrence, transactions made from a specified date by attackers are no longer valid. This happens because normally developers quickly fix newly-exploited vulnerabilities after the hack. 

 project was actually the reason why Ethereum Classic hard-forked — we’ll discuss in detail later.

In a popular protocol such as Bitcoin, various coders from all over the world work on its improvements constantly by proposing specific upgrades. In the case of Bitcoin, there’s a whole 

 (Bitcoin Improvement Proposals). As for Ethereum, there is a 

A good example of what’s going on during these forks 

 in 2019 by Ethereum’s founder Vitalik Buterin himself: “

Over the course of the next one to two years, we’re going to be on this interesting journey together of taking the Ethereum ecosystem and upgrading it to a new and more secure … on top of it, so things coming soon, more developments to rollup, more developments to scaling technology, improvements to security, including wallets, including clients, including a lot of things, improvements to usability, improvements to privacy

Moving on to the next part of the discussion, let’s take a look at the difference between hard forks and soft forks now, but first – what are soft forks?

 is a software upgrade that is backwards compatible with older versions of the blockchain. This means that those miners who haven’t yet upgraded to the later version of the software are still able to participate in validating and verifying transactions.

It is much easier to implement a soft fork than a hard fork as only a majority of miners need to upgrade.

Keep in mind, however, that a miner who hasn’t upgraded yet will be affected by the soft fork anyway. 

Say, you produce a 1 megabyte block as a non-upgraded miner. You’re still able to validate incoming transactions. However, the update allows only for 8 megabyte blocks to be added to the ecosystem, so you can’t add your blocks – sorry.  

With that in mind, you can say that soft forks act as an incentive for miners to upgrade their software, or face being hindered in their functionalities.

In general, three possible case scenarios are most likely to happen when a community decides to hard-fork:

 are supported by very small groups of mining pools these days, whereas good old 

“, as Shania Twain would sing – it’s the king of cryptos amongst the crypto community and beyond.

OK, no really good examples here, yet, a moderately appropriate example is Roger Ver’s 

, the blockchain that implemented an increased block size of 8 MB in 2017 (and a 32 MB block size in 2018). Now the digital asset on top of this platform, 

, is comfortably inside the top 20 cryptocurrencies by 

, and so it’s fair to say that it has been a success in its own right.

Of course, BCH is not Bitcoin in terms of the price but look at the other hard forks that we mentioned here – they’re selling for under a dollar!

Now, this is where the example of Ethereum Classic is fitting, so let’s look at it in more detail.

In April 2016, a digital decentralized autonomous organization, DAO, was installed on the Ethereum blockchain in order to create a form of investor-directed venture capital fund. 

In July 2016, hackers exploited a vulnerability in the DAO code , stealing $50 million worth of ETH. As a result, the Ethereum blockchain was hard-forked at block 1,920,000 to restore all the funds of those who had suffered losses in the hack. This was controversial and led to maintaining the original unforked blockchain as Ethereum Classic (ETC), thus breaking the network into two separate active blockchains, each with its own cryptocurrency. 

Without any doubt, Ethereum is the dominant force here. Ethereum is by some distance the 2nd biggest cryptocurrency by 

, while at the time of writing, Ethereum Classic doesn’t even make the top 50.

Talking about dominance – as we all know and have already mentioned, Bitcoin is the most popular cryptocurrency out there.

Over recent times, the interest towards ‘digital gold’ has been only growing. As a result, so has interest towards its history, including its hard forks.

Let’s briefly look at the history of Bitcoin hard forks:

So, how many Bitcoin improvement proposals, do you think, have been already made over the past decade? 

The answer is a lot. 350 to be exact, but not all of them made it to hard forks, of course.

However the night is young, blockchain is a teenage technology 

, and we’ll no doubt see a lot more hard forks in the future.

So, in essence, a hard fork is a far-reaching change of the blockchain that requires all the nodes running in the distributed network to move to the newer version (that supports readjusted functionality). 

On the other hand, a soft fork is a software upgrade that is backwards compatible with older versions of the blockchain. This means that those miners who haven’t yet upgraded to the later version of the software are still able to participate in validating and verifying transactions (although they are incentivized to upgrade).

Hard forks and soft forks are important in the context of network development. They allow the community to make sufficient changes and upgrades despite the lack of centralized governance.

Thanks to hard forks, blockchains and cryptocurrencies integrate new features and improvements as they’re developed. Without those, the ecosystem would have needed a centralized server to control everything that’s happening in the network. Luckily, we’re not stuck with the centralized servers — but we’re definitely stuck with hard forks. 

Explained: What Is a Hard Fork & How Does it Work?

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