BytePlus Collaborates with Mysten Labs for AI Integration on Sui Blockchain

14 views 2:19 pm 0 Comments May 17, 2024

Story Highlights

  • BytePlus, a division of ByteDance, the parent company of TikTok, is set to collaborate with Mysten Labs to incorporate AI algorithms into the Sui Blockchain.
  • This partnership will enable Sui to merge its entire nodes’ data with ByteHouse, a cloud-native data warehouse, facilitating real-time and batched analysis. This integration aims to enhance performance and ensure quicker delivery for users.
  • The alliance with BytePlus comes at a time when the Sui ecosystem is experiencing significant growth.

BytePlus, a subsidiary of ByteDance, the company behind TikTok, is joining forces with Mysten Labs to introduce AI algorithms to the Sui Blockchain. This move towards Web3 and AI technology aligns with the increasing interest from consumers and users in the industry.

BytePlus Collaborates With Mysten for Web3 Expansion

Mysten Labs, the creators of the Sui layer-1 blockchain, have strategically partnered with BytePlus, the enterprise tech arm of ByteDance, to venture into the Web3 sector.

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Through this collaboration, BytePlus will explore various services such as data warehousing, content creation, recommendations, and augmented reality within Web3 gaming platforms and socialFi projects in conjunction with Mysten Labs.

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Diverse Services Offered by BytePlus to Sui

The collaboration signifies that Sui will integrate its node data with ByteHouse, a cloud-native data warehouse, for both real-time and batched analysis. This integration is expected to enhance performance and ensure swift delivery for users.

Another aspect of the collaboration with Sui involves the utilization of BytePlus products like recommendation systems and BytePlus CDN, a network of content distribution platforms for faster content delivery. This partnership is likely to boost the exposure of major game developers and other key partners through the potential utilization of these services on Sui.

Upward Trajectory of Sui Network Boosts SUI Token

The partnership with BytePlus coincides with the recent growth of the Sui ecosystem. Recently, First Digital Trust, a stablecoin issuer based in Hong Kong, announced the extension of its $3 billion dollar-pegged FDUSD token to the Sui blockchain.

Following the announcement of the collaboration with BytePlus, the price of the SUI token surged. As of the latest update, SUI is priced at \(1.3, with a total 24-hour trading volume of \)329 million. The token has witnessed a 7.37% price increase in the last 24 hours, fluctuating between \(1.3 and \)1.2 per token. Moreover, the current market capitalization of Sui (SUI) amounts to $1,656,339,214.

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The content shared above reflects the author’s personal opinion and is subject to market conditions. It is advisable to conduct thorough research before making any cryptocurrency investments. The author and the publication do not bear any responsibility for individual financial losses.