Real Vision x Sui: What Is Sui? (Episode 4)

0:13What is SWE? If we start with the headline summary, SWE is a layer one blockchain platform with a focus on high performance, scalability and improved user experience. It was created by former Meta employees who worked on the DM Libra blockchain project. Now that all sounds pretty impressive, but what if you don't know what a layer one blockchain platform actually is? Well, let's wind back a bit and explain it in simple terms. I'll start with blockchain. You'll often see blockchain described as an immutable ledger. But I find that many people don't have a clue what even that means. So maybe a simpler description is that blockchain is a special technology for keeping track of who owns what and who did what.

0:59And it's all done in a way that can't be cheated. Basically, it's a very good and very secure tracking system. So if that's blockchain, what's a layer one platform? Very simply, it's a way of implementing blockchain. And to bring that to life, I'm going to give you an analogy. Imagine the blockchain is the engineering and technology that you need to build a road. If that were the case, then you could think of layer one platforms as just being different kinds of road systems. Some of them are a bit old, slow and bumpy, with constant traffic jams and roadworks, while others are smooth, fast and easy.

1:40Each of these road systems has their own rules for how you can travel on them. So they'll set their own speed limits, which is about how fast you can do stuff on each platform. Each will have their own toll booths, which is what you pay to use that platform. They'll have their own police officers to check up on everything and make sure everyone follows the rules. And they'll each have their own ways to connect to other places. So you get the idea. Layer 1 platforms are all different versions of the same thing. They're all harnessing the power of blockchain technology, but in slightly different ways.

2:16Bitcoin was the first. Then Ethereum came along and did things slightly differently. Ethereum was followed by Solana and Polkadot. And then came SWE, which was built using lessons learned from earlier Layer 1 platforms to make things even faster, cheaper, smoother, and easier. That's why SWE is generally regarded as being the top dog when it comes to layer one platforms. And a big part of this is down to the fact that from a developer perspective, SWE is very user friendly, which of course accelerates usage and adoption even further. SWE is often the layer one platform of choice for applications that require lightning fast and secure transactions within a community such as in games and fintech.

3:02That's why many companies like Real Vision choose to work with SWE for their transition to Web3. Now, hang on a minute. What's Web3? I hear you cry. Sounds like you should watch the video that answers that very question, and which you'll find elsewhere in this educational explainer series. If you like this episode, I'd love for you to head over to realvision.com forward slash join for a free membership. Start your journey today to unfuck your future. Just one click away.