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

Bybit Learn

Blockchain

Composability refers to the ability to combine existing blockchain components in multiple ways and create something new. Learn more about it here.

If you like working with computers, you’ve probably encountered the term "composability" before. This concept is traditionally used to describe a certain type of software development. However, composability has gradually become a hot topic in the cryptocurrency world, too. More and more decentralized finance (

) organizations are becoming interested in composability. What is composability, and why does it matter? Keep reading to learn all about this intriguing 

Composability refers to the ability to combine existing blockchain components in multiple ways and create something new. If a blockchain is composable, developers who work with it can easily design things like decentralized applications (

Composability is a fairly broad topic, since there are many different ways to combine different components. To better understand how it works, it's helpful to take a close look at the main types of composability.

Morphological composability is one of the most common types. If a system is morphologically composable, then components such as 

 follow the same standard, and are compatible with each other. All of the existing 

 essentially speak the same language, so that disparate but composable elements can be used across different DeFi platforms.

When it comes to blockchain composability, 

 of morphological composability. This token standard is the basis for a variety of DApps, decentralized autonomous organizations (

 games and custom cryptos. The same base cryptocurrency seamlessly works in all sorts of ecosystems and programs, and allows these systems to work together if applicable.

Syntactic composability means that developers can combine existing components of a system to create brand-new systems. If a system has syntactic composability, its protocols are designed to work together. For example, consider the smart contract system on Ethereum: the contracts are all publicly available, and any 

. Developers can use this ability to build new systems with several different reusable software components working together in a complex and interoperable system.

Syntactic composability works best when a system is also morphologically composable. The main difference between syntactic composability and morphological composability is a matter of scale: while morphological composability focuses on being able to reuse the same component on different systems, syntactic composability is about being able to combine the building blocks of the blockchain to make brand-new systems.

Atomic composability is a little different from the other types. Instead of trying to combine existing components to make new systems and features, atomic composability mainly focuses on contract execution. An atomically composable system is one in which multiple types of transactions are processed as one. A user or developer can choose to join transactions into a single bundle that will only be finalized if each individual transaction is finalized.

A common example of atomic composability is a flash loan, in which the transaction combines a contract to give a borrower assets, invest the assets and repay the loan. Everything is executed at once, and the flash loan only succeeds if every aspect of the loan is confirmed.

How Does Composability Work in Cryptocurrency?

Since it's mostly a software term, composability traditionally involves a lot of careful coding. However, adding composability to crypto is a little more complex. Instead of simply making sure you're writing your programming language correctly, you have to consider all of the different elements that make up a DeFi ecosystem. Everything from tokens to smart contracts needs to be carefully designed.

 a cryptocurrency requires in order to be fully composable.

To make crypto more interoperable, it's important to avoid making systems too interconnected. Each component needs to have a single defined task. This allows future developers to combine smart contracts and other components without having unintended consequences. Since each item has its own unique use case, a developer can easily combine composable elements in order to create the precise system that they need.

Another key characteristic of composability is that each part of a blockchain is autonomous: it can work independently without having to get help from other parts of the system. For example, if you run a single smart contract with no other components, the contract should still be able to execute itself. By avoiding referential components, people can more easily mix and match existing building blocks.

The final mechanism in a composable system is discoverability, or the ability to view and see aspects of the system. A blockchain can't be composable if it relies on proprietary systems that no one else can access. Composable cryptos tend to be open source, so any user can deploy a contract, 

 or perform other actions. Everything from external contracts to software libraries needs to be fully accessible.

Why Is Blockchain Composability Important?

Industry experts believe that composability is the future of the industry because it leads to more interoperability. Composable DeFi protocols can easily communicate and work with each other to enhance connectivity. People can perform cross-chain functions and use the same infrastructure for multiple applications. For example, composability ensures that NFTs minted in a 

 game can easily be listed on another site's DeFi marketplace. The ability to create multi-chain ecosystems also provides users with better security and less centralization.

Composability also helps to streamline and democratize development. With composable blockchains, people can easily turn their own blockchain concepts into a reality. Almost anyone can make decentralized exchanges (

), games, lending programs and other systems without needing extensive, in-depth education on building blockchains. Furthermore, people can make systems quickly and conveniently instead of having to waste time building basic tools that already exist in other programs.

Blockchain composability is more than just a fun novelty, as it has a lot of important applications that make it an essential part of web3 development. 

Following are some of composability’s main benefits.

In the modern blockchain community, there are countless people with fantastic ideas who don't quite know how to implement them. Composability makes development a lot easier for anyone who’s technologically-minded, but who might not be an expert on blockchain. Composable systems essentially work like LEGO®: they give you the building blocks that you can then assemble yourself to make anything you like.

When a lot of people are building on the same composable blockchain, you end up with many similar cryptocurrencies that can easily send information to other compatible blockchains. The reliance on the 

 has demonstrated just how useful it is to have cross-chain communication. Users can send and receive data more easily, and then use the same information to perform tasks on multiple blockchains, DEXs and DApps. 

For example, composability allows a DAO to obtain a loan from a second system and then invest the funds in a third system to earn money and fund the DAO's liquidity pool.

With composability, using DeFi ecosystems becomes a lot easier. Since composable systems operate on the same standards, users don't have to create new accounts and learn new tasks each time they want to work with a new system. You can do things like use the same crypto wallet to load the same web3 identity for multiple DApps and games. Composability can also be used to bundle transactions and existing smart contracts, which simplifies things for users.

Like any other feature, composability has both pros and cons. Though it's certainly a useful tool, it's not entirely foolproof. Here are a few challenges to be aware of.

Composability works well for designing small-scale DApps and other projects. However, it can lead to some issues when a DeFi ecosystem ends up becoming wildly popular. There are a lot of DeFi protocols that work well for a small number of users, but fail to function well when there are hundreds of thousands. Composability often incentivizes developers to stick to outdated methods only designed for a few users, instead of coming up with new techniques that can better handle large numbers.

In theory, composability is a great way for developers to make new blockchain systems. However, it leads to one major problem: Who designs the reusable software components and existing building blocks that all developers work from when making new blockchain technology? 

It can be hard to incentivize composability because the person who creates the underlying structure may not profit from it. Instead, others who use the initial code may end up making all the money. Many organizations prefer to use a proprietary construction method that cannot be shared or copied by others, as this is more likely to guarantee their system is profitable.

How does blockchain composability work in the real world? To answer this question, let’s check out the following exciting examples of crypto and blockchain projects that have used composability to create fantastic products.

 is a financial system that has created the Dai (DAI) crypto stablecoin. It runs on Ethereum and mints a stable, decentralized currency with a 1:1 value to the U.S. dollar. Thanks to composability, MakerDAO allows for very convenient access to Dai. Instead of requiring people to purchase coins directly with funds from a bank account, they can instantly acquire Dai in exchange for crypto collateral. Dai can also be used with over 400 different DeFi platforms.

 (AMMs) are one of the most intriguing applications of 

’s blockchain technology. It’s a decentralized exchange whose users can trade with algorithmic mechanisms, instead of having to trade with each other. Not only does Curve use composable technology to integrate with other protocols, but it also uses it to simplify transactions. Unlike other AMMs, Curve bundles similar assets, such as stablecoins, into liquidity pools. This allows for a faster, more straightforward trade.

 is a financial system that uses composability to help maximize investments for its users. Once you sign up for Yearn, the composable elements combine to distribute your tokens to several other DeFi applications. By working with multiple platforms, users can make the most of lending, trading and liquidity incentives across several different DeFi ecosystem types.

Composable blockchains are one of the most promising types of blockchain technology. Systems with disparate but composable elements make it easy for developers to design their own projects, or to create different DeFi platforms that work together. Most commonly found in the ERC-20 system, composability is an increasingly popular feature. Expect to see more DeFi applications, gaming DApps and other composable blockchain ecosystems in the future.

Blockchain Composability: The Building Blocks of DeFi and Web3

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