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

web3

Explainers

ERC-5169 is an Ethereum token standard that facilitates the creation of tokens with embedded scripts that contain executable programming logic.

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The year 2015 witnessed a true revolution in the blockchain industry when 

 they’re based on, DApps introduced the capability to execute programming logic directly on the 

. Over the following few years, Ethereum’s platform continued to drive innovation by unveiling a succession of crypto token standards.

The foundational ERC-20 standard, which underpins DApp functionality, was formally endorsed in 2017. That same year, the platform announced another game-changing innovation — the ERC-721 

 (NFT) standard. Two years later, the ERC-1155 multi-token standard was introduced on the blockchain by the 

 (ENJ) gaming platform. These advancements in token standards and their underlying technologies continue to support the functionality of the world's largest smart contract chain.

Ethereum’s dedication to token standard innovations hasn’t diminished. In 2023, a new standard — ERC-5169 — was adopted specifically to support smart tokens. The ERC-5169 token has executable scripts and programming logic embedded within it. Its potential to completely change the way Ethereum tokens and DApps are used could lead it to emerge as a key bridge between the worlds of 

ERC-5169 is an Ethereum standard for the development of tokens that include embedded executable scripts. 

The script code within an ERC-5169 token turns it into a truly “smart token.” Such tokens are capable of executing complex actions, such as interacting with external platforms and devices, or carrying out rule-based operations which were previously only possible via the use of smart contracts.

The ERC-5169 token standard was first proposed in May 2022 by Smart Token Labs, an Australian blockchain technology startup founded in 2017. Smart Token Labs has also introduced a couple of associated technologies — the TokenScript development framework and the Smart Layer distributed network — to facilitate the launch and management of smart tokens.

ERC-5169 is a unique token standard because it represents the first proposal in the history of Ethereum — or the entire blockchain industry, for that matter — to attach executable code to a single token. The standard has the potential to drastically alter the way that entire ecosystems of DApps, smart contracts and blockchain crypto tokens are utilized. That’s because ERC-5169 essentially enables tokens to act as self-contained mini DApps, without the need for smart contract–based apps we’re accustomed to.

Thanks to the executable programming logic attached to individual ERC-5169 tokens, the standard can be used to create crypto assets that can interact not only with other tokens and blockchain platforms, but also with external Web 2.0 websites, devices and products.

ERC-5169 can also facilitate the development of dynamic and complex crypto tokens, such as dynamic NFTs. While such NFTs currently utilize smart contracts for their functionality, the ERC-5169 standard makes it possible to embed the entire code responsible for dynamic changes into a token. This lets an NFT travel across different platforms that might not be compatible with each other, while still retaining all of its dynamic properties.

How Does the ERC-5169 Token Standard Work?

The ERC-5169 standard adds a new function, 

, to the token’s smart contract — the piece of code on the blockchain that allows you to issue and manage the token. This scriptURI() function contains a reference to an executable code that the ERC-5160 token can include. In this way, the token becomes a self-contained asset with embedded programming logic — essentially a mini-DApp.

The standard’s creator, Smart Token Labs, also offers two critical technologies that allow ERC-5169 tokens to interact with external web3 and Web 2.0 environments — TokenScript and Smart Layer.

TokenScript is a code framework that provides tools to create a front-end interface and functionality for external apps and programs to interact with ERC-5169 tokens. While the actual token contains the necessary code and programming logic, TokenScript translates these into usable functions and interfaces, adjusted for the app that utilizes the token. In essence, TokenScript is a middle layer between the end-user and the ERC-5169 token they interact with.

As a connecting layer between users and ERC-5169 tokens, TokenScript also provides additional functions to extend and modify how users interact with their tokens.

The fundamental goal behind the introduction of TokenScript is to facilitate the use of ERC-5169 assets on different platforms.

Smart Layer is another technology designed to expand the adoption of ERC-5169 tokens by external platforms. Essentially it’s a distributed set of 

 that monitor and process smart token interactions with various environments — Web 2.0 platforms, blockchain-based smart contracts, mobile apps and more. Along with TokenScript, it can be used to set up smart layer tokens that conform to ERC-5169 specifications.

Smart Layer isn’t a blockchain by itself. Instead, it’s a layer of distributed nodes that acts as a connecting medium between blockchains and external platforms, such as websites or mobile apps. While TokenScript facilitates user interfaces and interactions with underlying ERC-5169 tokens, Smart Layer serves as a core processing hub, enabling seamless communication between tokens and external platforms.

As an alternative to blockchain-based smart contracts, the ERC-5169 standard presents virtually limitless opportunities within blockchain environments as well as at the intersection of blockchain and Web 2.0. Some of the major use cases for the standard include the following.

As the ERC-5169 standard is still fairly new, most of its actual applications started to emerge only in late 2023 to early 2024. Perhaps the most well-known and publicized project that makes use of ERC-5169 tokens is the 

 (POL), a collection of dynamic NFTs with a complete game embedded in each token. Owning a Smart Cat enables you to participate in a game where you care for your digital pet by grooming, feeding and cleaning it. 

You can also interact with other Smart Cat owners — and take your pet on play dates with theirs!

 game are of the xNFT (executable NFT) type, a variation of NFTs made possible thanks to the ERC-5169 standard. As of February 2024, Smart Cats remains the most popular application of the ERC-5169 technology in the blockchain world. Nevertheless, as this technology is relatively young, expect more practical use cases and applications to emerge throughout the year.

ERC-5169 is among the latest token standards to drive innovation on Ethereum. As it becomes more popular, it’s inevitable that it will be compared to other token standards utilized on the chain. The three most commonly used among these are ERC-20, ERC-721 and ERC-1155.

 is the leading Ethereum standard for creating fungible cryptocurrencies, and has been instrumental in the growth of Ethereum DApps. First introduced in 2015, ERC-20 was formally adopted by Ethereum’s blockchain in 2017.

While ERC-5169 is largely designed for unique, non-fungible tokens, the ERC-20 standard is applicable strictly to fungible crypto assets.

ERC-721 is Ethereum’s primary standard for NFTs, crypto assets that feature non-fungibility (i.e., uniqueness) as a key property. It was introduced in 2017, quickly leading to an explosion in the popularity of Ethereum-based NFTs.

Similar to ERC-721, the ERC-5169 standard is primarily used for distinct, non-fungible tokens. However, ERC-721 NFTs are typically static, rely on on-chain smart contracts for their functionality, and don’t feature any of the embedded scripts or executable logic found in ERC-5169 NFTs.

 Ethereum standard can be used for creating both fungible and non-fungible crypto tokens via the same smart contract. It’s widely used by applications that need to have dual-mode (fungible and non-fungible) functionality within the same environment or for the same operational purpose. For instance, 

 platforms may choose to use the standard to enable fungible in-game crypto assets for loyalty points, and NFTs for loyalty categories.

Similar to ERC-20 and ERC-721 (but unlike ERC-5169), the ERC-1155 standard doesn’t provide a function to embed executable scripts within tokens. 

The Future of the ERC-5169 Token Standard

ERC-5169 might change the blockchain industry in the same profound ways as ERC-20 and ERC-721. For the first time in Ethereum’s history, executable and self-contained smart tokens are now an option for developers. In a way, such functionality could actually cannibalize further adoption of smart contracts and DApps: let’s not forget that smart tokens aren’t an enhancement for these technologies, but rather a complete, self-reliant alternative to them.

With ERC-5169, we might just be starting to move away from Ethereum’s blockchain being a DApp hub to its becoming a web of individual smart tokens. Moreover, this technology isn’t limited to Ethereum alone, as the Smart Layer network enables the use of smart tokens on any 

 chain. For example, the most prominent ERC-5169 application, 

, has chosen Polygon as its primary hosting environment. In the future, it’s likely that the standard will be expanded to include the majority of EVM platforms. We might also see the replication of ERC-5169’s executable token concept on other, non-EVM smart chains. 

But the most radical transformation that will arise from the ERC-5169 standard is the convergence of web3 and Web 2.0 technologies. Because all of their programming logic can be contained within one token, ERC-5169 assets will easily be able to traverse blockchains and interact with Web 2.0 platforms. 

For years, discussions have centered on the lack of effective interaction and interoperability between web3 and Web 2.0. The ERC-5169 standard is a major step toward resolving these issues. The standard will help combine web3's security and tokenization advantages with the widespread usage and popularity of Web 2.0.

Thanks to this versatile token standard, the distinction between web3 and Web 2.0 may soon blur, and these two distinct digital worlds might even converge into a unified entity, powered by the ERC-5169 functionality. 

Moreover, who wouldn’t like to own an NFT that’s a complete game or application in itself? This prospect alone is so enticing that it’s hard to see ERC-5169 not gaining popularity and widespread adoption in the blockchain industry.

ERC-5169: Bridging Web 2.0 and Web3 With Dynamic Tokens

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