Original author: Alex Liu, Foresight News

Explosive number of transactions on Sui

The media outlet Degen News, which focuses on the Solana ecosystem, recently sparked intense discussions with a news report: "The daily number of transactions on Sui has exceeded that of Solana." Doubts and criticisms quickly followed: "The data must be wrong, I haven't seen many people using it!" "Are they counting instructions as transactions again?" Sui had previously faced criticism for confusing instruction count with transaction count in its promotion. (One transaction may include several instructions)

Toly, co-founder of Solana, generously shared this news and offered congratulations, while Adeniyi, co-founder and CPO of Sui, clarified that "these are all independent transactions," emphasizing the authenticity of the data.

Why has the number of transactions on Sui's chain surged? Adeniyi pointed to the instigator behind all this—Juzy, the developer of Spam. What is Spam and how can one participate?

What is Spam?

In short, Spam is similar to Ore on Solana, a PoW project on a PoS chain. Users earn tokens by continuously sending transactions, and the more transactions they send, the more tokens they receive. Gas fees are the only cost to earn tokens.

The total supply of SPAM tokens is 100 billion, with 10 billion being mined daily for a total of 100 days. The daily inflation rate of the tokens gradually decreases.

It's clear that such tokens have no functional value, but they have gained popularity due to these characteristics: everyone can participate equally without a whitelist; the token supply is predictable and transparent; the team did not pre-mine tokens, ensuring fair distribution; and the cost is only gas.

So, it turns out that none of this is actually new. Fair distribution has been a hyped concept for the past six months, and the concept of Spam's gameplay seems quite similar to Ore.

However, there is one difference. Conducting PoW on a PoS chain sometimes serves as a "performance test" for the underlying chain. Solana exposed issues during Ore's testing, with the transaction success rate dropping to a low point, rendering the entire chain almost unusable for several days. Sui, on the other hand, seems to have withstood the stress test. Despite the surge in the number of transactions, the transaction success rate, confirmation speed, and fees all remain in good condition. Therefore, after the news of surpassing Solana's daily transaction volume, subsequent actions seem to have become a "joint marketing" effort by Sui and the project team. Sui's official accounts and co-founders have actively supported Spam, and even the SPAM-SUI LP on Turbos has begun receiving official subsidies in SUI token incentives.

To consume SUI Gas and mint SPAM, you need to go to its web minter, where a browser-based wallet will be generated for Spam.

The web minter will automatically handle everything: sending transactions, minting coins, and claiming SPAM. Simply transfer any amount of SUI for transaction fees to the wallet, click start, and you're done. Overall, the process is simpler than Ore's.

You can also use an existing wallet for Spam, but you need to load the private key into the web minter program for use. If you have other assets (such as NFTs), it is not recommended to do this, as storing the private key in the browser storage poses some risks.

Also, remember to register before using Spam! The Spam counter works on this principle: a new counter is created every day, and on the first day, you must send a transaction. You must register on the second day, and from the third day onwards, you can mint SPAM at any time.

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