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.

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

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Polyhedra Network is a blockchain protocol that provides scalable interoperability. Learn more about how it works in this article.

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 networks, it's necessary to design a framework that supports cross-chain asset transfer no matter how many users are present. The Polyhedra Network hopes to provide this service to other networks. By combining 

 and highly efficient interoperability solutions, Polyhedra Network claims to create a scalable cross-chain system. To see how this unusual design works, explore this guide to the Polyhedra Network and its crypto tokens.

 is a blockchain protocol that provides scalable 

. Other networks and decentralized applications (

) can use the Polyhedra technology to handle large numbers of cross-chain asset transfers in an efficient and affordable manner.

Polyhedra Network is a Singapore-based company that was launched in 2022. It was founded by Tiancheng Xie and James Zhang. Xie has a background in cryptography and algorithms, while Zhang previously worked at Meta and Alibaba Cloud. The team also contains engineers and developers from Stanford University, University of California, Berkeley and Tsinghua University.

Polyhedra Network’s founders met while studying zero-knowledge proofs (ZKPs) in their doctoral programs and decided to create a company based on ZK interoperability. Their mission — to create a company capable of providing zero-knowledge technology — has proved very popular, with the company raising 

 from Binance Labs, Animoca Brands and other investors.

Polyhedra Network Changes Ticker From ZK to ZKJ

On May 30, 2024, Polyhedra Network announced that it has opted to change its ticker from "ZK" to "ZKJ" following a dispute with zkSync. The new ticker, standing for "ZK Join," represents a call for unity within the zero-knowledge community. This decision coincides with a broader appeal from Polyhedra and its allies, including notable figures from Polygon and StarkWare, urging that the "ZK" designation should be considered a communal resource rather than a corporate trademark. The controversy escalated when zkSync attempted to claim the "ZK" ticker for its upcoming token launch, leading to significant community backlash and discussions about the ethos of web3 values.

What Does Polyhedra Network Aim to Achieve?

A major problem for various blockchain systems right now is their inability to handle large numbers of customers. Often, chains that provide a secure and decentralized network can’t easily manage a large volume of transactions without compromising user privacy. The founders of Polyhedra Network use cryptographic proof generation to process transactions quickly and affordably without having to sacrifice data-sharing security.

While searching for scaling solutions, Polyhedra Network's developers also realized there was a need for data interoperability. Right now, users often struggle with finding compatible products. Polyhedra Network plans to address this issue with its interoperability protocols. By creating a framework through which vastly different blockchains can pass information back and forth, it hopes to create a system whose applications are compatible with several different systems.

The core of Polyhedra Network is the zero-knowledge proof. Zero-knowledge proofs are a type of cryptographic method for verifying credentials and confirming transactions. They allow a sender to transmit proof that a state transition occurred, without requiring them to provide any other information or rely on external assumptions. Polyhedra Network uses a type of advanced zero-knowledge proof called zkSNARKs that requires no interaction between the prover and verifier, so it’s especially secure and private.

Using the concept of the advanced zero-knowledge proof, Polyhedra Network turns it into the zkBridge, a scalability solution that uses a custom set of ZK interoperability protocols to transmit information between blockchains while also accelerating transactions. Data transfer and message passing on the zkBridge begin with a block header relay network that transmits the evidence of a state transition on a sender chain. The zkBridge then generates a zero-knowledge proof to generate block headers and bundle information into a more efficient design. The more compact transaction proof is then passed to the receiver chain, resulting in an interoperable and scalable system.

Polyhedra's block header relay network and next-generation zkSNARK protocols provide various helpful services. Following are the main features people can access on Polyhedra Network.

The zkBridge token feature simplifies asset transfer between blockchain systems, allowing users to 

 between ten different blockchains. In addition to maintaining a decentralized identity across multiple chains, the token bridge also provides asset security and helps to reduce slippage.

The Polyhedra NFT bridge provides a secure way of transferring valuable 

. Multiple NFTs can be placed in one NFT container and transferred simultaneously. This eliminates the need for external assumptions and lowers NFT verification costs.

This feature makes message passing a lot easier. The interface is as easy to use as a standard email service provider, but your data is fully protected by 

, people can maintain a decentralized identity while still quickly communicating with each other.

Polyhedra has many applications for gamers. Its system is ideal for developers looking for ways to run projects affordably and easily. People who build on Polyhedra Network have access to the best features of various blockchains, and can be confident that the system won't lag if there are a lot of players.

The zkLightClient technology helps Polyhedra create a suite of developer tools. People interested in designing applications can use its extensive tooling to build cross-chain products that run on the Polyhedra LayerZero system.

Polyhedra Network started by designing large-scale ZKP systems that could efficiently prove many different transactions. It has successfully launched the 

 that helps to make its zkBridge protocol more efficient. Polyhedra Network currently supports a variety of sender and receiver chain options, including 

Now that it’s refined proof generation, Polyhedra Network plans to focus more on cross-chain interoperability, planning to add more chains to the system and expand it beyond cross-chain messaging and NFT transfers. In the long run, Polyhedra Network aims to find more efficient ways of verifying credentials without compromising user privacy. There is no defined road map, but the team has discussed plans to improve user interfaces and offer more features to blockchain users.

The ZKJ token (previously known as the ZK token) is named after Polyhedra Network's commitment to zero-knowledge technology, and helps to smoothly manage asset transfers between blockchain networks. With a 

 and a current circulating supply of 91 million, Polyhedra Network plans to distribute its ZKJ tokens in the following manner:

Since its airdrop in mid-March 2024, the ZKJ token’s price has fluctuated considerably. Its price reached an all-time high of $4.01 before steadily falling. Its current price is $1.11 (as of Jun 11, 2024). After examining past pricing data, DigitalCoinPrice concludes that the 

 $2.43 by the end of 2024, $5.06 by 2027 and $8.26 by 2030.

Some analysts have also pointed out how impressive Polyhedra's large scale ZKP systems are, suggesting that the need for highly efficient interoperability solutions will drive ZKJ’s price higher. 

Looking to trade Polyhedra Network tokens? Bybit now offers the ZKJ/USDT Spot trading pair. To get started, you’ll first need to 

, fund it with cryptocurrency and navigate to the 

The Polyhedra Network is backed by some promising technological concepts. The fact that it supports cross-chain asset transfer while also using next-generation zkSNARK protocols to improve scalability could make it highly useful for various blockchain systems. Therefore, it's a useful investment for those interested in innovative ZKP-based offerings.

However, there are quite a few other projects working on data interoperability and efficient data-sharing right now. Polyhedra Network is only likely to stand out from the competition if it can lower its fees and attract more users. Furthermore, the ZKJ crypto launch has included some uncertainty and volatility. This might provide some great opportunities for traders, but it can also lead to higher risks. Common wisdom dictates that you invest in it only if you’re willing to 

 beforehand, and have enough money to bankroll riskier investments.

Polyhedra Network's ability to provide next-generation cross-chain interoperability is exciting. The zkBridge protocol could make it much easier for blockchain systems to pass information back and forth in a timely manner. However, Polyhedra Network still needs to fine-tune its fee system and add more networks to its protocol. Only time will tell whether its innovative ZKP-based offerings will lead to impressive crypto returns.

Polyhedra Network (ZKJ): zk-Proof Innovations to Advance Web3

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