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

Ergo is a type of secure blockchain based on DeFi functionalities and it combines the best features of Ethereum and Bitcoin. Find out about how it works here.

Deciding which crypto is right for your portfolio can be challenging when there are hundreds of options from which to choose. One project you might want to consider is 

, which is designed specifically to bridge the gap between 

. Investors have shown substantial interest in this altcoin, and it’s currently at a healthy price. If you’d like to place some of your money into ERG, it would behoove you to have a solid understanding of the Ergo platform and its many features.

 (DeFi) functionalities. Its purpose is to combine the best features of Ethereum with those that Bitcoin has to offer.

 (PoW) similar to the consensus protocol that Bitcoin uses to ensure its network is secure and 

 are available to accommodate DeFi. The security features were taken from Bitcoin, while the smart contracts and decentralized features came from Ethereum. If you want to 

 Ergo tokens, this platform uses a protocol referred to as "

," which is a substantially modified version of the Bitcoin mining protocol.

 created this crypto project. As a blockchain veteran who has been developing crypto-related software, Chepurnoy has written and published numerous papers on blockchain technology over the years. Prior to creating Ergo, he worked as a researcher at 

, an engineering and research company best known for creating 

, a fellow researcher at IOHK, to develop Ergo, which was officially launched at the beginning of July 2019. When this project first began, Chepurnoy stated that it was made to deliver extensive smart contracts as well as ample security features.

Ergo works by combining the top features of Ethereum and Bitcoin. The platform was designed to be a more efficient and secure financial contracts platform that offers comprehensive DeFi functionalities. Keep in mind that “decentralized finance” refers to applications that remove centralized banks from financial transactions.

The platform’s mining model is similar to that of Bitcoin and allows for the creation and validation of new coins. However, computer size is limited for mining operations, meaning that large mining farms that consume high amounts of carbon aren’t developed.

The Ergo platform also exists as a programmable blockchain similar to that of Ethereum. Since it’s programmable, the blockchain's able to host various 

 (DApps). Ergo provides this functionality without charging 

Developing DApps on Ethereum is challenging, since transaction fees differ, depending on current network congestion. This issue makes it practically impossible to estimate development costs. In comparison, developers know the exact amount they need to pay to develop an app on Ergo.

 smart contract language, allow for the creation of more complex and secure financial contracts, which Ergo’s team believes is necessary for the DeFi industry to advance in the coming years.

Every token that's hosted in a smart contract comes with an added layer of protection detailing when the token can be used, who can use the token and what conditions must be met before it’s used.

ErgoScript makes smart contract development simple with 

. The light nodes don't need to hold the full blockchain copy, or run on a 24/7 basis, which allows the platform to use less computing power and storage space. Because of these features, the platform is mobile-friendly.

Be aware that this platform doesn't use general-purpose programming languages, such as 

. Instead, ErgoScript makes code specifically for decentralized finance, which ensures the code is simplified and relatively easy-to-use.

Ergo offers an array of features that makes the platform a worthwhile investment. Along with the PoW model, Ergo also comes with no gas fees and a crowdfunding service known as ErgoRaffle. We discuss the latter below.

Ergo uses the PoW model to mine new coins and validate transactions. When it comes to this consensus mechanism, anyone who mines ERG can use multiple 

 on a single Ergo node. While the PoW model is effective, it also consumes a lot of energy, Bitcoin’s main issue.

Ergo, however, has mitigated this issue somewhat with its Autolykos mining algorithm. This algorithm is resistant to 

 and large mining pools, which makes the PoW model more efficient. In fact, anyone who wants to mine Ergo can do so with a standard computer and graphics card.

Ergo is set to mint its entire supply in the 26 years following its initial mainnet launch in 2019 — in other words, by 2045. Mining Ergo tokens is simple and straightforward. All that's required is for the mining to configure a standard node, which is possible if your graphics processor has at least 4GB of VRAM. However, 8GB of 

Since Ergo is based on the PoW consensus mechanism, miners are able to use multiple graphics processors on just one node. It's also possible to 

. However, the Ergo team recommends that miners select only small pools.

 types with full support. Two of them — 

 — are web-based. Only Yoroi supports native assets. The official 

 is likely the best one, since it provides 

 functionality, as well as scripts and native-asset support. A mobile version of the wallet can be found on 

Even though Ergo is a programmable blockchain that allows for the development of decentralized applications, its platform doesn't collect transaction fees. This feature has made Ergo popular among developers who create DApps.

As we previously stated, Ergo supports the creation of DApps that extend platform functionality. One DApp that was built on the Ergo platform is 

 protocol and is considered to be a decentralized 

 that effectively secures the privacy of each user by sending and receiving tokens in large batches before mixing them up. With this approach, tracking transactions is practically impossible. Another DApp built with Ergo is the 

, an NFT marketplace that runs hundreds of auctions.

, previously known as ErgoDEX, is the decentralized exchange that exists on the Ergo platform. However, that’s not all: Spectrum is also meant to be a native cross-chain ecosystem with new offerings. This specific DEX allows users to transfer their liquidity between Cardano and Ergo. Remember that Spectrum uses the 

 model to ensure that liquidity sharing is possible between these platforms.

 protocol. When a user performs a transaction on this exchange, they’re provided with incentives. The ecosystem’s various users include user-interface (UI) providers, liquidity providers, traders, miners and off-chain executors.

Over the years, the Bitcoin platform has 

 that have either been misplaced or lost altogether. Other projects have issues with token flow, since tokens can remain in wallets for an extended period of time without being touched, which means there aren't as many tokens on the market.

Ergo aims to mitigate this issue with a feature known as 

. This feature recycles unused and lost tokens so they can be placed back into circulation. When tokens remain untouched for a period of four years, miners can collect fees, which are considered to be incentives for effectively securing the Ergo network when 

With this form of rent collection, unused data is no longer a problem. Users can remove or transfer tokens before being charged fees. If they don't, users would pay the fee every four years to allow unused tokens to be mined.

 is a type of crowdfunding service created by Ergo, which allows users to raise money for a wide range of different projects. Examples of these projects include a charity donation, an academic study or a business plan. Once a raffle takes place, a lottery will occur, which results in one of the participants winning a portion of the raffle.

, is a platform designed to accommodate P2P lending and borrowing via the Ergo blockchain. Still in development, the team behind EXLE is raising funds to assist with the progression of the decentralized application. When the platform is in place, anyone who contributed to EXLE’s development can fund a loan, making it possible to enter a pool of lenders and earn returns from interest on the loan. Lenders are set to receive returns of 5% for every loan they assist in funding.

Already, EXLE has started providing loans with funds from ErgoRaffle. The recipient of one loan, Margaret Mama Gibby, received $2,500, which she will repay over a period of 12 months beginning in September 2022. 

An additional loan of $3,000 recently reached that amount with funds remaining from the initial loan. The borrower, Grace Lotoom, is establishing a cyber cafe with the funds, and will also start to repay the funds in September on a 12-month term. The team behind EXLE believes that nearly 20,000 borrowers will seek loans in the coming year.

Ergo has many distinct use cases, the primary being the creation of DApps. As mentioned previously, DApps such as SigmaUSD, Ergo Auction House and ErgoMixer all have different uses. For instance, SigmaUSD is a decentralized stablecoin that has been pegged to the U.S. dollar. On the other hand, the Ergo Auction House supports NFT auctions. By allowing different types of DApps to be created, Ergo's use cases will expand over time.

ERG is the token for the Ergo platform and is considered to be deflationary. It has a maximum supply of 97,739,925 ERG tokens. 

Block rewards have consistently been decreasing by 3 ERG per block ever since 2021 — two years after the token was launched. At the launching of this platform, block rewards were at 75 ERG. According to the original emission schedule, once eight years have passed, these rewards will reach zero. After which, miners will be compensated with the fees collected from transactions and Storage Rent. 

 was introduced on June 22, 2022 with alterations to the original emission curve. This plan allows for a percentage of block rewards to be placed in a remission contract such that it extends the schedule by 17.38 years to 2045. Current block rewards are at 63 ERG per block, and once the emission schedule decreases to 3 ERG per block, miners will receive the same amount of rewards until the remission contract depletes.

The current ERG price is around $3.17, which is up significantly from the $2.0377 price on August 10. The current market cap for this coin is approximately $101 million. More than 32 million ERG are in circulation today.

Ergo, an ever-evolving crypto platform, is currently developing a crowdfunding platform as well as a decentralized exchange. Additionally, the platform wants to continue growing for the foreseeable future. Ergo's road map is a lengthy one, with potential refinements that include refundable ICOs, private swaps and an ErgoPay feature. Because of the large number of features the platform is adding on a regular basis, the Ergo team believes that new users will be attracted to the platform, which could result in the value of ERG increasing.

There are many reasons why Ergo can be considered a good investment. The platform takes its strongest features from both Bitcoin and Ethereum, which helps it minimize potential problems. If your main goal when investing in cryptocurrencies is to use a platform that offers transaction privacy, Ergo could be a great investment. It’s not supported by venture capitalists, who prefer transaction transparency, which indicates that the platform offers ample privacy.

The growth of its token largely depends on community engagement and support from DApp developers. If you're unsure about the future growth potential of this token, the somewhat low price of ERG means you can add it to your portfolio without needing to make a sizable investment.

Ergo is a unique platform that offers valuable features and functionality that aren't readily available with other crypto projects. While Ethereum is also a programmable blockchain, it comes with high gas fees, a problem that Ergo deftly avoids. Whether you want to make trades with or mine ERG, the Ergo platform has plenty of existing use cases — with more to come.

What Is Ergo Crypto: Combining the Best of Bitcoin & Ethereum

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards