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

Altcoins

and Protocol is a decentralized, cross-chain data oracle that acts as a bridge between smart contract platforms and real-world data sources to ensure secure and scalable interoperability.

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Oracles played a crucial role in ancient Greece and Rome. They were the supernatural link between the gods and humans. If you’ve heard of 

, the concept isn’t far from the above description — minus the deity drama!

, with their immutable storage and ability to verify transactions, are at the core of blockchain technology. However, their scalability has been limited by access to real-time data and accurate price feeds from off-chain sources.

 and Band Protocol come in — to connect real-world data to blockchains. While Chainlink may have gotten a head start in this niche, Band Protocol has risen as its worthy competitor. 

Let’s explore the Band Protocol ecosystem and its role in the decentralized economy.

Part of the reason why blockchain as a technology has caused such a stir around the globe is due to its closed data system. Each blockchain ensures its security and operational efficiency by creating in-house data silos.

While such a design has its merits of privacy and anonymity, challenges arise when there’s a need to communicate with other blockchains or receive external data.

Let’s look at smart contracts briefly. One of their strengths is that they automatically execute, based on the code fed into them during deployment. Such programmable functionalities have opened a world of opportunities, such as 

However, these smart contract–powered applications have to depend on third-party sources to obtain real-world data. For example, a DeFi application such as 

 needs accurate data for users to engage with its crypto lending platform.

Most of this data needs to be sourced from traditional web sources and 

. Unfortunately, the majority of these data solution providers are faced with the limitations of centralization, network congestion and high operation costs. Such limitations pose a threat to trustlessness and decentralization, which are the pillars of blockchain.

 Fortunately, oracles such as Band Protocol were created to fill that void of precise, accurate and reliable data exchange between blockchains. As a decentralized oracle network, it leverages consensus to provide a middle layer that links blockchain applications with external information sources.

Band Protocol is a decentralized, cross-chain data oracle that acts as a bridge between smart contract platforms and real-world data sources to ensure secure and scalable interoperability.

 It plays a critical role in sourcing and aggregating data from multiple blockchains, cryptographically verifying it, and then packaging it into an easy-to-use format.

Founded in 2017 by three experienced MIT builders — Soravis Srinawakoon (CEO), Sorawit Suriyakarn (CTO) and Paul Nattapatsiri (CPO) — Band Protocol is on a mission to provide a decentralized oracle framework for 

With features such as monetized data provision, verifiable random function and real-time price information, Band Protocol is at the forefront of the decentralized oracles powering blockchain.

Initially built on the Ethereum blockchain, Band Protocol migrated to Cosmos in 2020 using its 

 to leverage the network’s low gas fees and optimized costs. Through the integration with 

, developers can unlock cross-chain functionalities using the Cosmos Inter-Blockchain Communication (IBC) protocol.

Using its native token, BAND, to incentivize and secure the protocol, Band Protocol seeks to provide a high-performance and dependable blockchain oracle for smart contract platforms. Some of the notable DApp projects that have partnered with Band Protocol include Celo, Moonriver, Astar, Oasis and Cronos.

 is a data oracle public blockchain built on Cosmos SDK that acts as a medium between data sources and smart contract platforms powering DApps. Its blockchain is operated by over 72 validators, who ensure the chain remains decentralized. It relies on the 

 BFT consensus algorithm to ensure immediate block finality. 

The roles of BandChain are to handle requests raised by DApps and to query data from respective providers, then relay the results back to the DApp as shown below:

Let’s look at some of the unique features that make BandChain stand out.

BandChain’s design uses two separate layers of decentralization to ensure maximum 

. First, the data oracle is operated by a pool of validators distributed around the globe. Their performance can be easily monitored and verified.

(DPos) mechanism ensures that validators are incentivized to report data properly and accurately. The flow of data from request to submission is available to be viewed and audited by the public.

BandChain’s oracle scripts are customizable in multiple programming languages, and flexible for the user to curate the data feed they desire. BandChain’s data source scripts allow validators to freely determine where they’ll source their data.

Unlike other mainstream blockchains, such as Bitcoin and Ethereum, BandChain is built exclusively to compute and request oracle data.

As such, the average block validation time on the oracle is only 3 seconds, while it can take up to 10–15 seconds on Ethereum and around 10 minutes on Bitcoin to confirm a transaction. Such speed ensures that data requests are received and processed quickly.

Another benefit of an oracle-focused blockchain such as BandChain is that it helps offload heavy oracle computations from the requester’s blockchain. Hence, oracle operations don’t need to be duplicated onto a new chain, which enhances integration with DApps for greater scalability.

Through BandChain, users requesting data only need to pay the associated fees (depending on the request). BandChain’s pay-per-request model is very economical, especially when you don’t need data for an entire set of assets.

Band Protocol’s architecture consists of a thriving ecosystem of a fully-dedicated public blockchain, data providers, a standard dataset aggregator and verifiable random function (VRF).

These components provide a scalable interplay of strategic functionalities to provide DApps with access to real-world, off-chain data. Let’s look at each of these components for a better understanding of how Band Protocol works.

At the core of Band’s operations is BandChain, with a design that focuses on speed, scalability, cross-chain compatibility and flexibility. BandChain curates off-chain data using a system consisting of data sources, network participants, and 

A data source on BandChain describes the procedure of retrieving raw data and the fees applicable to the data query. Anyone can register as a data source on BandChain.

However, upon requesting data on BandChain, users don’t interact with data sources; instead, oracle scripts cater to their requests. BandChain’s oracle scripts are quite similar to smart contracts in that they’re 

, and programmable in multiple languages.

Oracle scripts are encoded to outline the data sources necessary to respond to a data request. Once the request is fulfilled, the scripts aggregate data reports from validators and provide a final result.

To function, BandChain relies on three groups of participants:

Before we proceed to the other components of Band Protocol, let’s look at how an oracle data request flows through BandChain’s network.

 Before a data request is addressed, data sources and oracle scripts have to be published.

Once published, a user broadcasts their data request, which initializes the oracle script’s execution process.

 On initialization, the scripts fetch and emit raw data, which is inspected and confirmed by randomly selected validators.

Once the raw data is received, the oracle scripts aggregate the validator’s reports and request storage of the final result.

 is an exhaustive reference dataset on Band Protocol that consists of frequently updated and highly customizable price feeds. This product provides developers with comprehensive and extensible price feeds to integrate into their DApps.

With real-time price information of 90 cryptocurrencies and 14 forex rates and commodities, Standard Dataset is heavily optimized and low-cost, with end-to-end flexibility.

The Band Verifiable Random Function (Band VRF) is a cryptographic operation powered by Band Protocol that allows verifiable and tamperproof randomness in DApps. As the newest feature on Band, VRF is packed with security properties, such as unpredictability, uniqueness and collision-resistance to ensure valid random outputs.

This product is particularly suitable for 

 DApps that depend on pseudorandom values, such as lottery and NFT minting.

Band Protocol has an on-chain revenue feature that lets data providers supply data and earn in real time. In this way, Band Protocol helps ensure DApps have ready access to a wide range of data to develop DeFi products.

To start earning, a data provider needs to set up a wallet (which takes less than two days) and deploy a data source. Data providers have 100% control over their revenue, since the wallet is decentralized.

When you mention blockchain oracles, the two names that always top the list are Chainlink and Band Protocol. The two are playing a crucial role in providing oracle data solutions to power the DeFi economy.

Chainlink was launched in 2017 and commands the largest market share in the data oracle niche, with its 

 by the end of 2021. Band Protocol was launched two years later, and has been right on the heels of Chainlink.

That said, there’s always a debate on which is better suited to build DApps.

Well, there’s no clear-cut answer to that question — since each of them possesses different features and approaches data oracle provision in diverse ways.

A key difference between the two oracles is that Chainlink is built on the 

 blockchain, while Band migrated to the Cosmos blockchain. When sourcing data from Chainlink, the fee conversion is done on Ethereum, which — at least pre-

However, Cosmos-powered Band Protocol enjoys almost instant transaction confirmations at a much lower cost.

Another major difference lies in the network design. While Band Protocol has developed BandChain to act as its public blockchain, Chainlink doesn’t have its own blockchain. Oracle nodes have the extra task of acting as block validators on the network, which may lead to increased operating costs. Oracle nodes on Chainlink are quite lightweight since their only focus is data delivery.

BAND is the sole native token powering BandChain. As of the time of writing (Oct. 27, 2022), it is priced at $1.14 and has a total supply of 100 million tokens with a circulating supply of 41,591,943.

It’s worth mentioning that the BAND token uses an inflationary model to encourage network participation by holders through staking. The inflation parameters are similar to those of Cosmos, where the inflation rate is between 7% and 20%, with a target of having 66% of BOND tokens staked.

Band Protocol is making a mark in the data oracle niche, which is a critical component of the DeFi ecosystem. Demand for data solutions by smart contract platforms and DApps is growing as more projects enter the space. Band Protocol’s vibrant ecosystem of a blockchain-focused solution to data oracles with monetized data provision is strategic and impactful.

BAND tokens were launched in September 2019 through an 

(ICO) at $0.63. However, BAND’s price didn’t have much traction, and traded in the range of $0.20–$0.50 for most of 2019 and early 2020.

In a buildup to the release of Phase 0 of its Mainnet, BAND’s price began to pump in May 2020, crossing the $1 level. The price increase continued into June, when the Mainnet was released. BAND experienced phenomenal growth after the launch, with major price spikes in July and August 2020 seeing the token touch $14.

However, BAND's price gradually fell for the rest of that year — yet performed incredibly well at the beginning of 2021, when it hit its highest price of $22.83 in April of that year. In mid-2021, Band Protocol's price plunged to a low of around $5. It continued to decline in the months that followed, stagnating at around $1. 

Market price experts hold a fairly bullish outlook for the BAND token. 

believe that BAND could range between $3.60 to $18.73 in 2025. Price Prediction 

of $3.45 by 2025, which could hit $21.46 in 2030.

 is somewhat less bullish in comparison to the two forecasts above. It anticipates BAND will hit $2.55 in 2025, with its growth rate slowing down to reach $5.59 in 2030.

You can buy BAND tokens from various top cryptocurrency exchanges, such as Bybit, which offers 

Data oracles are a critical link in the growth of DeFi. By providing a medium through which smart contracts and the decentralized economy can access off-chain data, the Band Protocol network helps in the scalability and growth of the sector.

As Band Protocol continues to roll out its Mainnet in phases and to scale, it’s expected to grow into a truly decentralized and reliable data oracles provider, and may even beat out its strongest competitor — Chainlink — due to its low cost and high speed.

What Is Band Protocol: Real-World Data For All

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