- Sui blockchain integrates SCION to offer secure alternative to Border Gateway Protocol, marking a first in blockchain technology.
- Cardano founder Charles Hoskinson praises Sui on social media, recognizing the network’s advancements and team effort.
The Sui blockchain network recently integrated SCION, a technology designed to provide a secure alternative to the Border Gateway Protocol for its validators. This integration marks Sui as the initial blockchain network to adopt this technology. SCION is operational on Sui’s testnet, aiming to improve network security by mitigating unauthorized traffic redirection by attackers.
Charles Hoskinson, expressed approval of Sui’s technological progress on the social media platform X. He commented on the development efforts of the Sui team, noting their success in enhancing the blockchain. His post garnered positive reactions from his followers, with discussions hinting at potential future collaborations between Sui and other blockchain networks.
Reading about Sui. It’s good to see George’s work come to life. They deserve great success in the space
— Charles Hoskinson (@IOHK_Charles) October 4, 2024
Sui’s recent update with SCION addresses security concerns inherent in the Border Gateway Protocol by preventing potential network hijacks. This technological advancement is intended to protect the blockchain from common fraud tactics that involve rerouting network traffic to unauthorized infrastructure.
The crypto community has reacted positively to Sui’s development, focusing on its potential for broader applications and partnerships within the blockchain sector.
Sui Network experienced a 115% increase in its value over the past month after integrating the USDC stablecoin into its blockchain. This growth corresponds with heightened activity on the network, particularly within its memecoin sector.
Memecoins such as AAA cat and Suiba Inu have shown substantial gains, with tokens based on the Sui blockchain performing better than those in the wider cryptocurrency market.
This rise in Sui Network’s value is also linked to an increase in both the number of transactions and the total value transacted on the network.
The current market capitalization of SUI is approximately $4.774 billion, with a decline of 2.53%. Over the past month, it has seen a significant increase of 120.36% and has grown by 216.60% over the year. The day’s range is between 4.678 billion USD and 4.942 billion USD.
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