The Sui Network aims to simplify web3 access, enabling user registrations on its apps without managing an external crypto wallet or seed phrase.
In a press release dated Sept. 13, the Sui Foundation revealed that users can now access decentralized applications (dapps) using their Google, Facebook, and Twitch login credentials, facilitated by the newly introduced zkLogin (Zero Knowledge login) feature.
This latest move is expected to allow users to navigate the web3 space with the same familiarity as other online platforms, bypassing the complexities of managing web3 wallets.
“By enabling users to access dapps with the social logins they have grown comfortable using, zkLogin removes a major hurdle for bringing the benefits of blockchain-based applications to billions of mainstream users.”
Greg Siourounis, managing director of the Sui Foundation.
The blockchain sector has historically faced challenges in user onboarding, with many individuals finding the process cumbersome and complex. These issues range from the necessity to sign transactions and maintain seed phrases to providing extensive, often confusing information to utilize certain dapps.
Adeniyi Abiodun, the co-founder and CPO of Mysten Labs, echoed this sentiment, highlighting the frustration many face when attempting to navigate the installation of web3 wallets and managing seed phrases.
The Sui Foundation emphasizes that the zkLogin feature does not compromise security while offering privacy and ownership preservation features inherent to blockchain-based applications.
The underlying technology, known as zero-knowledge proof, enables one entity to verify the authenticity of a statement without disclosing any information beyond verifying the statement’s truth.
The latest development comes as the Sui token [SUI] prepares for a significant unlocking event that might influence its market valuation.
According to Token Unlocks, a substantial SUI token unlock scheduled for October could potentially influence the token’s market behavior, with over 1.9 million tokens valued at over $800,000 to be released.
Recent data from DefiLlama highlighted a surge in trading activity within the Sui network. The trading volume has seen a noticeable increase, with the current figures at roughly $3.03 million, nearly doubling from $1.57 million recorded on Sept. 8.
At the time of reporting, the SUI token was trading at around $0.438, marking a 0.46% increase in the last 24 hours, according to data from CoinMarketCap.
