Sui, a layer-1 blockchain developed by Mysten Labs, experienced its first major outage when the network was unable to process transactions for two hours.
The outage was caused by a “transaction scheduling logic error that caused validators to fail,” Sui's official account said. He explained. On Twitter (aka X). Since then, a patch for the problem has been rolled out, Sui added, which has been quickly adopted by the network testers community.
Since the network went live in May 2023, Swi has experienced it. Consistent working hours The error was until I knocked the validators offline. The last incident that happened to Sui was in June, when his testnet experienced a temporary outage.
Created by the team behind Meta's now-defunct DEM project, Sui uses a modified version of the Move programming language. Basically, an open source programming language is centered around “objects” with user-level properties.
In terms of the value of assets locked in smart contracts on the Sui network, also known as Total Value Locked (TVL), the project ranks eighth among all chains. Depilama. Totaling $1.6 billion, the figure is up 55 percent over the past month, along with a jump in Sui prices.
The Sui token fell to $3.36 at the time of the outage, but this has risen to $3.56 by the time of writing, representing a 5% drop from the previous day. The price rose to $3.68 after the decline, but then fell again.
Like many digital assets, the value of SUI has surged since Election Day, jumping roughly 80% this month after Donald Trump's White House victory.
It was billed as “Solana killer” Focused on a faster trading pace, his exit Thursday paralleled Solana's occasional struggles. In the year In 2022, for example, Solana experienced five major outages, with the most recent outage occurring in February of this year.
Armani Ferrante, CEO of Backpack, a Solana-based wallet for NFTs; It is described Sui's outage is par for the course on Twitter. He said projects with occasional disruptions push the limits of what can be chained.
“Downtime is just a fact of life,” he wrote. “If you're not going down, you're not pushing the limit.”
Sui did not immediately respond to a request for comment. Decrypt.
Edited by Andrew Hayward.
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