The Sui Network is a Layer 1 blockchain designed to support scalable decentralized applications, low transaction fees and fast processing. First developed by Mysten Labs, Sui uses an object-centric architecture, the Sui Move programming language and parallel transaction execution to reduce unnecessary bottlenecks.
Since its mainnet launch on May 3, 2023, Sui has attracted developers building DeFi platforms, blockchain games, payments and digital assets. Its architecture differs from conventional account-centric blockchains: assets and application data are represented as individual objects, helping the network identify transactions that can be processed independently.
This guide explains Sui network fundamentals, including how the blockchain works, how its consensus operates, what Sui transaction fees cost, the meaning of Sui TPS, token supply and network usage as of November 2026.
Sui is a permissionless Layer 1 blockchain with its own validator network, transaction execution and smart-contract environment. Its key architectural building blocks include an object-based data model, programmable transaction blocks (PTBs), Sui Move and delegated proof-of-stake (DPoS) security.
Sui represents assets and data as objects with a unique identifier, version and ownership rules. Some objects are owned by a single address, while shared objects can be accessed by multiple users or applications. This distinction helps determine whether operations can be executed concurrently or need coordination.
For example, two users transferring unrelated NFTs may have transactions that execute in parallel. By contrast, several traders interacting with the same liquidity pool can compete to update shared state and require ordered processing. Parallel execution increases efficiency, but it does not remove the need to coordinate conflicting updates.
Figure 1. How Sui handles object-based transactions — An explanatory illustration, not a network performance benchmark.
Source / data basis: Official Sui transaction documentation
Sui uses DPoS: validators stake SUI, and token holders can delegate to validators. Validator voting power reflects the stake associated with them. The consensus system must reach agreement on accepted transactions, and an epoch lasts approximately 24 hours on mainnet.
Sui uses Mysticeti, a directed acyclic graph (DAG)-based consensus protocol. Its design allows validators to propose blocks in parallel and reduces communication overhead. Low-latency benchmarks illustrate the design’s potential but do not guarantee that every live user transaction completes in the same time.
Programmable Transaction Blocks (PTBs) allow multiple actions to be combined into a single on-chain transaction. A user could, for example, interact with a DeFi protocol and manage tokens within one atomic workflow. The operations either commit together or fail together, subject to transaction rules and execution limits.
Sui aims to handle high transaction demand without requiring unrelated operations to execute one after another. In April 2023, the Sui team reported a peak throughput range of 10,871 to 297,000 transactions per second (TPS) on a test network containing 100 globally distributed validators. The result varied across test workloads.
That 297,000 TPS figure is a controlled testnet benchmark, not Sui’s sustained live mainnet throughput. This distinction matters when comparing Sui blockchain TPS with other networks, because different tests may count and measure transactions differently.
On October 7, 2026, Sui demonstrated more than 40 million transactions per second through Sui Tunnels. CertiK later verified a peak of 40,682,328 tunnel TPS. Tunnels execute individual actions off-chain and settle outcomes to Sui; the result is not a measurement of Sui base-layer on-chain TPS.
Source / data basis: 2023 Sui performance report; see also CertiK, 14 October 2026
Independent tunnel verification: CertiK report
Because transactions involving independent objects can be processed simultaneously, Sui can use validator computing resources efficiently. This is especially relevant for high-frequency activity in gaming, digital collectibles and applications with many independent state changes. Operations that access the same shared object still face coordination and potential contention.
Sui Move is a resource-oriented smart-contract language adapted for Sui’s object model. It emphasizes explicit ownership and rules governing how digital assets can be transferred or modified. This helps developers build contracts involving tokens, NFTs and other on-chain resources without treating those assets as ordinary, freely copyable values.
Move also supports modular code that developers can organize and reuse. Its language-level safeguards do not make every application immune to bugs: audits, testing and secure operational practices remain essential.
Sui separates computation and storage costs, using a reference computation gas price selected through validator coordination for each epoch. This can make fees more predictable than systems that rely only on continuously fluctuating fee auctions.
In a comparison published on October 20, 2026, the Sui Foundation described average Sui transaction costs as being below $0.02. This was a foundation-published comparison, not an independently verified average for every day or transaction. Actual costs change with workload, storage use and fee conditions. A detailed explanation follows below.
Validators participate in securing the network and are rewarded according to the staking and validator incentive rules. Sui combines DPoS, cryptographic signatures, consensus agreement and resource-oriented smart contracts to help protect on-chain state. Security nevertheless depends on the correctness of applications, wallet custody and network infrastructure as well as the blockchain protocol itself.
Sui blockchain transaction fees are generally denominated in SUI. Fees depend on the computation required to execute an operation and the resources needed to store data on-chain. There is no permanent, universal average fee for every type of transaction.
A transaction’s computation fee is based on computation units and the gas price. Its storage fee reflects storage units and the storage price. Eligible storage rebates can lower the final net payment when previously stored data is removed or changed.
Net transaction fee = computation fee + storage fee − applicable storage rebate.
The precise accounting is detailed in Sui’s gas documentation. The smallest SUI denomination is MIST: 1 SUI equals 1,000,000,000 MIST. A submitted gas budget limits what the transaction may spend; the budget is not necessarily the fee ultimately paid.
Source / data basis: Official Sui gas-fee documentation
The Sui average transaction fee changes according to the activity observed and the measurement window. A basic transfer can be cheaper than a complex operation involving multiple contracts or data changes. The Sui Foundation reported a network average below $0.02 in October 2026, but that figure should not be presented as a fixed November 2026 network fee.
For a current fee estimate, look at a transaction of the same type on a Sui explorer such as SuiVision or Suiscan. Compare actual gas amounts in SUI and note the relevant date and transaction complexity. A single explorer transaction is not a network-wide average.
The dollar value of a fee is the amount of SUI charged multiplied by SUI’s market price in USD at the time being examined. For example, a hypothetical 0.002 SUI fee at a hypothetical SUI price of $0.70 would cost $0.0014. This is an illustration, not the current average fee.
They can vary. Parallel processing reduces conflicts between unrelated transactions, but highly demanded shared objects can experience localized competition. Users can also choose a gas price above the reference level where applicable. Therefore low fees are a design objective rather than an unconditional guarantee.
Sui supports gasless transfers for protocol-allowlisted stablecoins under restricted transaction rules. Qualifying peer-to-peer transfers do not require the sender to hold SUI for gas. The protocol documentation states a minimum transfer amount of 0.01 units of the eligible stablecoin; transfers below this minimum do not execute.
The feature does not make every transaction free: ordinary SUI transfers, swaps, NFTs and unsupported smart-contract actions are outside these gasless transfer rules unless they use a separate sponsorship arrangement. Under congestion, gas-paying transactions may be prioritized over gasless stablecoin transfers.
SUI is the native token used for network gas fees, staking, participation in certain governance processes and use within Sui applications. It has a maximum supply of 10 billion tokens; the amount in circulation changes as scheduled allocations become available.
The original allocation of the 10 billion SUI supply was: 50% community reserve, 20% early contributors, 14% investors, 10% Mysten Labs treasury, and 6% community access programs and app testers. These are original distribution categories, not a map of current ownership.
Source / data basis: Original token allocation documented in SEC filing
The Sui Foundation’s official circulation API lists 4,139,043,544.13 SUI for November 2026, equal to approximately 41.39% of the 10 billion maximum supply. This monthly figure replaces the outdated 2.76 billion circulating-supply claim in the original article.
Not-yet-circulating tokens are scheduled for release under the project’s published supply framework, which may be updated. Investors should monitor unlock schedules because additional liquid supply can affect market conditions. An unlock does not, by itself, prove immediate selling pressure.
Source / data basis: Official SUI circulation API, November 2026
SUI holders may delegate tokens to validators participating in network consensus. Validator commission, performance, staking pool exchange rates and network reward rules can affect the amount earned. Rewards vary and should not be described as guaranteed investment returns.
Network activity is useful when assessing Sui fundamentals, but any individual metric has limitations. DeFi TVL, stablecoin capitalization, active addresses and transaction counts measure different aspects of activity and should not be treated as interchangeable indicators of investment demand.
Sui supports exchanges, lending protocols, staking applications and other forms of decentralized finance. Protocols such as Suilend, NAVI and DeepBook participate in different parts of this ecosystem. Total Value Locked (TVL) measures the value of assets recorded within covered DeFi protocols under a data provider’s methodology.
The original blog described Sui nearing $1 billion in DeFi TVL during 2024; that was historical context, not a current market estimate. As of November 15, 2026, DefiLlama reported approximately $371.37 million in DeFi TVL and $544.13 million in stablecoin market capitalization on Sui. Its 24-hour DEX volume was approximately $42.31 million. These are separate measures and should not be added together.
Source / data basis: DefiLlama Sui dashboard, 15 November 2026
Active addresses count blockchain addresses observed participating in transactions or activity, depending on the provider’s definition. They are not the same as unique human users: one person can operate several addresses, and bots also participate in blockchain activity.
DefiLlama reported 70,268 active addresses in its 24-hour Sui snapshot on November 15, 2026. The original article’s 2024 claim of growth from 488,000 to 1.4 million referred to a different dated period and should not be reused as if it were current.
Source / data basis: DefiLlama Sui dashboard, 15 November 2026
Daily transaction counts provide another view of network activity. They may include activity from applications and automated processes, and their interpretation depends on the data provider’s counting methodology. They must not be confused with a sustained transactions-per-second benchmark.
DefiLlama’s 24-hour network snapshot on November 15, 2026 displayed approximately 73.39 million transactions. This replaces the original article’s undated comparison of 3.6 million versus 17.4 million daily transactions, which reflected activity in 2024.
Source / data basis: DefiLlama Sui dashboard, 15 November 2026
Higher application use can contribute to fee demand, staking activity and a larger ecosystem. Yet token price depends on additional forces such as circulating supply, liquidity, broader market sentiment and risk appetite. Network usage does not establish that the SUI token will appreciate. Historical price gains or comparisons with Bitcoin should always include the measurement period and verified price source.
Also Read: Is Sui Coin a good Investment?
Sui combines object-centric data, the Move programming language, parallel transaction execution and DPoS consensus to support decentralized applications at scale. Its technical architecture helps explain why Sui fees and transaction throughput attract attention from developers and users.
The strongest assessment of Sui network fundamentals considers actual network activity, transaction costs, token circulation and application security—not only a peak benchmark. Understanding the difference between a tested TPS record, live transaction counts and off-chain tunnel activity makes those comparisons more useful and accurate.
For the current token quote, check Mudrex’s SUI market page. For instructions on purchasing the token, see the Mudrex SUI buying guide.
Sui is a Layer 1 blockchain using an object-centric model, Sui Move smart contracts, parallel processing and delegated proof-of-stake validators.
The fundamentals include its object-based architecture, Mysticeti consensus, validator economics, SUI tokenomics, fee mechanism and observed on-chain usage.
There is no fixed universal average. The Sui Foundation reported average costs below $0.02 in October 2026, but the fee for a particular transaction varies with computation and storage needs.
A 2023 testnet performance report recorded up to 297,000 TPS under particular test conditions. It is not the sustained mainnet figure. Sui Tunnel benchmarks measuring off-chain operations should also be kept separate.
Its object model supports parallel execution, while an epoch-based reference gas price and computation/storage accounting aim to make fees efficient and predictable.
Use an explorer that reports observed network TPS and review its definition and time window. Live TPS should not be confused with historical testnet or tunnel benchmarks.
Yes. Sui has its own validator consensus and executes base-layer transactions instead of relying on another blockchain for settlement.
The maximum SUI supply is 10 billion tokens. The official November 2026 circulating supply was approximately 4.139 billion.
No. Certain approved stablecoin transfers can qualify under protocol rules; many other transactions still require gas or sponsorship.
No. Network activity may be a useful fundamental indicator, but price also reflects liquidity, token supply, competition and market sentiment.
Anush is a crypto researcher dedicated to making blockchain insights clear and accessible. A proud Solana maxi who still appreciates a good Layer 2 debate, he dives deep into market trends so others don’t have to (but really should). Passionate about simplifying crypto, he strives to make the space less intimidating and a lot more relatable, one report at a time.
