Sui Network To Split SUI Tokens Into Mist Units

In order to facilitate more efficient micropayments, Sui Network developers implemented Mist units for the project’s native SUI tokens.

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MIST is not a distinct token, but it works in the same way as 100 pennies create $1. According to the creators, each SUI will be divided into 1 billion units, allowing for cheap gas expenses while completing transfers worth a few dollars.

Gas costs are fees that users pay to execute any function on a blockchain. Depending on demand or the underlying network, this can range from a few cents to several hundred dollars.

Using MIST will also help to alleviate the insufficient gas issues created by coin dust, a phenomenon in which coins of very little value that are held in a user’s wallet accumulate to tens of dollars over time and become worthless owing to excessive gas prices.

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Previously, the SUI coin balance in the Move or Sui protocol was regarded as SUI directly. An SUI coin with a balance of 100, for example, was formerly understood as 100 SUI. According to developers, the amount will be regarded as 100 MIST or 10-7 SUI with the MIST upgrade.

The revised SUI and MIST values will be presented on the Sui Wallet and Sui blockchain explorer in the near future.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.