Sui Launches Mysticeti Testnet, Becomes World's Fastest Consensus Mechanism Blockchai

Sui has officially introduced Mysticeti on its Testnet, enhancing performance by reducing consensus time to just 390 milliseconds, thereby setting a new standard for transaction speed in blockchain upon its Mainnet launch.

Sui Launches Mysticeti Testnet, Becomes World's Fastest Consensus Mechanism Blockchain

Currently, blockchains are fiercely competing to solve the Blockchain Trilemma (the three infeasible aspects of blockchain), including decentralization, transaction speed, and low costs.

Sui may now be the blockchain that solves most of these issues, as on May 21, the Sui Foundation announced the successful deployment of the Mysticeti consensus layer on its Testnet.

With the new Mysticeti upgrade, Sui has taken another step towards solving the Blockchain Trilemma. Users can now trade "as fast as lightning" across all applications within the Sui ecosystem.

This innovation marks a significant advancement, drastically reducing the time to achieve consensus in Sui to just 390 milliseconds, an 80% decrease from the Narwhal-Bullshark consensus algorithm deployed on the Mainnet a year ago. This not only enhances processing efficiency but also solidifies Sui's position as the blockchain with the fastest consensus mechanism today.

Mysticeti is a Byzantine Fault Tolerance (BFT) protocol developed for the Sui network, based on a Directed Acyclic Graph (DAG). This technology not only enables unprecedented transaction speeds for Sui but also reduces CPU requirements for validators.

Some highlights of Mysticeti include:

Validators validate blocks without proof, reducing the necessary communication by 50% to achieve block consensus.
Transactions are processed rapidly within blocks with the potential to reach 100,000 transactions per second (TPS).
The new consensus rules designate multiple leaders in each round, speeding up transaction consensus.

Comparison of TPS across consensus mechanisms on Sui

Mysticeti is designed to maximize network bandwidth and minimize communication between validators to maintain high data throughput while ensuring high performance and low computational costs. This helps minimize latency to the lowest possible level while maintaining high processing capability and low computing costs.

In simpler terms, Mysticeti can be likened to a smart traffic system that operates efficiently without requiring many traffic police officers to regulate, ensuring smooth traffic flow with minimal operational costs.

Co-founder of Mysten Labs, George Danezis, stated:

"Mysticeti represents a major leap forward, not just for Sui but for blockchain technology as a whole. This technology minimizes consensus latency to the lowest limit while maintaining high performance and low computational costs. Mysticeti is another example that Sui is pushing the boundaries of what blockchain technology can achieve."

According to Certik, TON Blockchain currently holds the position of the fastest blockchain in 2023 with 104,715 transactions per second. With the Mysticeti upgrade, Sui can competently vie to establish a new benchmark for transaction speed in blockchain.

Comparison of TPS across blockchains

The price of SUI is slightly rising following the launch of the Mysticeti testnet. At the time of writing, SUI is trading at $1.14 USD, up 1.43% in the past 24 hours.

1H chart of SUI/USDT pair on Binance at 04:00 PM on May 22, 2024