Evan Cheng, the creator of Sui, is the mastermind behind the Sui Network, one of Web3’s hottest blockchains. As CEO of Mysten Labs, this Taiwanese-born tech titan took the ruins of Meta’s Diem project and built Sui Network, a Layer-1 platform that’s fast, cheap, and stupid easy to use. Since its May 3, 2023, launch, Sui’s exploded to 21 million active accounts and $1.2 billion in locked value by May 2025.
From coding in Taiwan to running a blockchain empire from Palo Alto, Evan’s story is packed with hustle, smarts, and big wins. Here’s the full deal on the Sui creator, how he made it happen, the battles he fought, and why Sui’s taking over.
From Taiwan to Tech Titan: Who Is Evan Cheng?
Evan Cheng, the Sui creator, grew up in Taiwan, a kid who lived for computers. He dove into computer science, dreaming of building game-changing tech. After moving to the US, he joined Apple in 2003, spending over a decade as a senior engineer and manager.
His big flex? Helping create LLVM, an open-source compiler that makes code scream on devices like iPhones and servers. That work earned him the 2012 ACM Software System Award, a coder’s equivalent of an Oscar. Apple was where Evan learned to build systems that scale to millions—a skill he’d later unleash as the Sui creator.
In 2015, Evan hopped to Meta, leading engineering for developer tools. When Meta unveiled Libra in 2019—a blockchain for global payments—he became the R&D boss for Novi, their wallet project. He led a team that built Move, a language for hack-proof smart contracts.
But Libra got crushed by regulators, rebranded to Diem, and tanked in February 2022 when Meta sold it off. Evan saw gold in the wreckage, setting the stage for his role as the creator of Sui.
The Spark: How Evan Dreamed Up Sui Network
Evan didn’t let Diem’s flop kill his vibe. He knew blockchains like Ethereum and Bitcoin were struggling—slow transactions, crazy fees, and interfaces that felt like rocket science. Evan wanted a platform that could handle millions of users and feel as smooth as PayPal.
In 2021, he co-founded Mysten Labs in Palo Alto, California, with four Meta alums: Adeniyi Abiodun (product), Sam Blackshear (Move’s creator), George Danezis (security), and Kostas Chalkias (crypto). As CEO, Evan was the master plan, aiming for a Layer-1 blockchain that’s scalable, secure, and dead simple.
Evan’s hustle was unreal. He raised $336 million in 2022, including a $300 million Series B from FTX Ventures, Andreessen Horowitz (a16z), Coinbase Ventures, and more. Based in Palo Alto, he tapped Silicon Valley’s talent and investor networks to fuel Sui’s rise.
By November 2022, Sui’s testnet was live, letting devs mess with its features. He made sure everything was dialed in before the mainnet dropped on May 3, 2023, with 100+ validators and 400 nodes worldwide.
Also Read: He Sold His Litecoin, Kept His Vision – The Charlie Lee Story
Building the Beast: How Evan Created Sui Network
As the creator of Sui, Evan poured his soul into its tech and strategy. Here’s how he pulled it off:
- Object-Centric Innovation: Evan took Move and made it next-level. Instead of accounts like Ethereum, Sui Network treats data as “objects”—tokens, NFTs, whatever.
This lets Sui process transactions in parallel, hitting up to 297,000 transactions per second (TPS) in tests. Ethereum’s at 15 TPS, Solana’s max is 65,000. This was Evan’s fix for blockchain gridlock. - Blazing Speed, Tiny Fees: Evan built Narwhal and Bullshark, Sui’s killer combo. Narwhal uses a directed acyclic graph (DAG) to sort transactions like a champ. Bullshark seals them in under a second. Gas fees? Just $0.005 on average, while Ethereum spikes to $10-$50.
- Normie-Friendly Features: Evan wanted Sui for everyone, not just crypto nerds. zkLogin lets users sign in with Google or Apple accounts—no seed phrase drama. Sponsored transactions mean devs can cover gas fees, so newbies start free. This is the Sui creator making Web3 feel like Web2.
- Big-Name Partners: Evan’s clout landed gaming giants like Netmarble and NHN, turning Sui Network into a Web3 gaming hub. He also got exchanges like OKX and Bybit to trade SUI, keeping the token liquid. He knew partnerships were everything.
Evan ran the show from Palo Alto but built Sui for the globe. Validators span 50+ countries, and tools support non-Latin scripts like Mandarin and Hindi. The testnet was a masterstroke—Evan used it to squash bugs and get devs hooked, ensuring a smooth mainnet launch.
What Is Sui? The Blockchain Lowdown
Sui Network, crafted by Evan Cheng, is a Layer-1 blockchain—a base layer for apps, like Ethereum or Solana. But it’s built to outdo them. Here’s the deal:
- Move Language: Move, from Diem, makes smart contracts hack-proof, dodging bugs like reentrancy attacks. It’s dev-friendly, with Rust-based tools.
- Object Model: Sui Network treats data as objects means transactions run at once, not in a queue. This powers wild stuff like upgradable NFTs or complex DeFi apps.
- Consensus Magic: Narwhal’s DAG and Bullshark’s sub-second finality make Sui crazy fast. It handles 10,000 TPS in real use, with 297,000 TPS in tests.
- Ecosystem Fire: Sui’s got 220+ dApps, like DeepBook (a DEX with $500 million monthly volume), Cetus (an AMM with $200 million TVL), Cosmocadia (2 million gamers), and BIRDS (5 million Telegram users). NFT platforms like BlueMove have minted 10 million+ tokens.
- Cross-Chain Vibes: Sui links to Ethereum and others via Wormhole and LayerZero. Native USDC, added in October 2024 via Circle’s CCTP, makes transfers seamless.
- Dev Love: The Sui Foundation funds builders with grants and hackathons like Sui Overflow 2024. The SUIHub program offers up to $200,000 per project. The dev portal’s stacked with SDKs and guides.
Sui’s built for scale—billions of transactions, no sweat. It’s his dream of a blockchain that doesn’t make you pull your hair out.
Obstacles the Sui Creator Faced
Evan, the creator of Sui, didn’t have a chill ride. He tackled some gnarly challenges:
- FTX Crash: In November 2022, FTX Ventures, a major backer, went belly-up. That could’ve killed Sui’s funding, but Evan’s other investors—a16z, Coinbase Ventures—had his back. He stayed transparent, keeping the team and partners cool.
- Crowded Market: Sui’s up against Ethereum, Solana, and Aptos (another Diem kid). He made it shine with low fees, high speeds, and a gaming focus.
- Regulatory Ghosts: Diem’s regulatory nightmare haunted Evan. He built Sui with decentralized governance and clear tokenomics to dodge SEC trouble.
- Tech Struggles: Scaling a blockchain for millions while keeping it fast and secure is brutal. Evan’s team spent months perfecting Narwhal and Bullshark, with the testnet catching bugs early.
Evan leaned on his Apple and Meta chops, rallied his team, and kept investors hyped. That’s how he turned chaos into victory.
How Popular Is Sui Now?
Sui’s a Web3 superstar, and Evan’s work is paying off big. As of May 2025:
- 21 Million Users: From 1 million accounts in July 2023 to 18 million in September 2024, Sui’s now at 21 million, driven by gaming hits like BIRDS and Cosmocadia.
- $1.2 Billion TVL: It crossed $1 billion in October 2024, now at $1.2 billion across 220+ dApps. That’s huge for a chain under two years old.
- Market Clout: The SUI token’s at ~$2.10, with a $7.35 billion market cap, trading on OKX, Bybit, and more. It’s not Ethereum’s $400 billion, but it’s climbing.
Sui’s massive presence in Web3 gaming and DeFi, with events like Sui Basecamp and hackathons drawing global devs. He has made a name for watch.
Where Has Sui Reached in 2025?
Sui’s killing it as of May 2025, thanks to Evan’s vision:
- Ecosystem Wins: 220+ dApps, with DeepBook and Cetus leading DeFi, and Cosmocadia and BIRDS owning gaming. Over 10 million NFTs minted on BlueMove and Hyperspace.
- Tech Flex: Stable at 10,000 TPS in real use, with 297,000 TPS in tests. Fees stay under $0.01, even during spikes, making it a user favorite.
- Partnerships: Gaming deals with Netmarble and NHN, plus the SuiPlay0X1 device (set for 2025), cement Sui’s gaming cred. Cross-chain bridges and USDC integration tie it to Ethereum and Solana.
- ETF Momentum: Institutional hype is spiking, with Canary Capital filing for the first SUI ETF in March 2025, followed by 21Shares in May. If the SEC greenlights these, billions could pour in, letting investors track SUI’s price without owning tokens.
- Global Reach: Nodes and validators in 50+ countries, with non-Latin script support for markets like Asia and Africa. The Sui Foundation’s grants keep the dev scene thriving.
- Community Hype: Sui Basecamp 2025 will showcase new dApps, and hackathons like Sui Overflow 2024 have devs buzzing.
Sui’s a cultural and tech force, especially in gaming and DeFi, with a growing fanbase driving its momentum.
SUI Token: The Money Game
The SUI token, crafted by Evan, powers fees, staking, and governance in a delegated proof-of-stake system. May 2025 stats:
- Total Supply: 10 billion, capped.
- Circulating Supply: ~3.5 billion.
- Allocation: 50% Sui Foundation (ecosystem growth), 20% early contributors, 14% fundraising, 10% Mysten Labs, 6% community.
- Staking: 130+ validators, ~4% annual yield.
- Market: $2.10 price, $7.35 billion market cap.
The Sui Foundation runs governance, with community votes on upgrades, keeping it decentralized and regulator-friendly.
Also Read: How To Buy SUI Tokens: A Beginner’s Guide
The Future: Evan’s Big Dream
The Sui creator isn’t slowing down. Evan’s gunning for 100 million users by 2030, with Sui powering games, DeFi, social apps, and real-world use cases like supply chain tracking. What’s next:
- SuiPlay0X1: A 2025 gaming device where players own their in-game loot on-chain, a game-changer for Web3 gaming.
- Sui Basecamp 2025: A global dev conference to unveil new dApps and hype the community.
- Enterprise Moves: Pilots with supply chain and finance firms, leveraging Sui’s speed for real-world impact.
- Global Push: Evan’s Taiwanese roots drive him to make Sui inclusive, with support for languages like Mandarin, Hindi, and Arabic.
The Sui creator is keeping Sui compliant, learning from Diem’s regulatory mess, to go mainstream without drama.
Why Evan’s a Legend
Evan Cheng, the Sui creator, turned a Meta failure into a Web3 triumph. His Apple days gave him the tech chops to scale systems; Diem taught him how to bounce back. He’s not just a coder—he’s a leader who raised $336 million, built a killer team, and got partners like Netmarble to bet on Sui.
From Palo Alto to the world, the Sui creator made a blockchain that’s fast, cheap, and easy, with 21 million users and counting. Sui’s not just tech—it’s Evan’s vision of a Web3 that actually works for everyone.
