Sui Network suffered a major disruption on November 21st after failing to produce blocks on its mainnet, which effectively brought the blockchain to a standstill.
Following a two-hour downtime, the network resumed operations, once again processing transactions.
According to the official announcement by the team behind the Layer 1 network, the outage was caused by a bug in the transaction scheduling logic that led to validator crashes.
Meanwhile, SUI experienced a drawdown of almost 10% in response to the outage from $3.7 to $3.35 before climbing back up to the press time price of $3.64. The network issues also prompted South Korean crypto giant Upbit to suspend SUI deposits and withdrawals temporarily.
Sui, a Layer 1 blockchain founded by Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias – former engineers from Meta’s Novi division – was developed under the umbrella of Mysten Labs.
The recent downtime has drawn responses from industry observers, many of whom highlighted Sui’s aspirations to rival Solana as a leading blockchain. Solana itself has faced scrutiny over frequent hours-long outages in the past, prompting several fixes to its infrastructure. While these issues helped Solana to operate seamlessly for a year, the streak ended with a 5-hour outage on February 6th. No further incidents have been reported since.
According to data from DeFiLlama, the total value locked (TVL) within Sui’s DeFi ecosystem breached the $1 billion mark in October 2024 surging to a new all-time high of $1.65 billion on November 17th. The figure has slightly dipped to $1.60 billion, at the time of writing.
The post Sui Network Suffers Outage Due to Bug in Transaction Scheduling Logic appeared first on CryptoPotato.
Following a two-hour downtime, the network resumed operations, once again processing transactions.
Sui Network Restored After Downtime
According to the official announcement by the team behind the Layer 1 network, the outage was caused by a bug in the transaction scheduling logic that led to validator crashes.
Meanwhile, SUI experienced a drawdown of almost 10% in response to the outage from $3.7 to $3.35 before climbing back up to the press time price of $3.64. The network issues also prompted South Korean crypto giant Upbit to suspend SUI deposits and withdrawals temporarily.
SUI – The ‘Solana Killer’?
Sui, a Layer 1 blockchain founded by Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias – former engineers from Meta’s Novi division – was developed under the umbrella of Mysten Labs.
The recent downtime has drawn responses from industry observers, many of whom highlighted Sui’s aspirations to rival Solana as a leading blockchain. Solana itself has faced scrutiny over frequent hours-long outages in the past, prompting several fixes to its infrastructure. While these issues helped Solana to operate seamlessly for a year, the streak ended with a 5-hour outage on February 6th. No further incidents have been reported since.
According to data from DeFiLlama, the total value locked (TVL) within Sui’s DeFi ecosystem breached the $1 billion mark in October 2024 surging to a new all-time high of $1.65 billion on November 17th. The figure has slightly dipped to $1.60 billion, at the time of writing.
The post Sui Network Suffers Outage Due to Bug in Transaction Scheduling Logic appeared first on CryptoPotato.
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