Sui suffers outrage scare but recovers strongly
Sui suffered its first significant outage, with the network unable to process transactions for about two hours but recovered strongly. A “bug in transaction scheduling logic caused validators to crash was the reason for the outage’, according to Sui’s official account on Twitter.
‘Since then, a patch for the problem has been released”, Sui continued, and the network’s validators have swiftly embraced it.
Sui’s token early dropped as low as $3.36, but as of this writing, it has risen to $3.64, indicating a 5% price gain over the previous day. The token has a market valuation of $10.34 billion and is ranked the 17th most valuable crypto asset by market valuation. SUI, like that of many digital assets, has increased since Election Day, rising by about 82% since Donald Trump won the presidency this month.
Suiscan’s latest data shows that block production on the Sui network has successfully resumed. Suiet, the Sui ecosystem wallet on platform X, also formally confirmed the network’s recovery. Block production resumed, an important step in stabilizing the Sui network after it was disrupted and its functionality was affected. Restoring the network is essential to preserving the dependability and integrity of transactions and activities inside the Sui ecosystem.
Sui had maintained steady uptime since the network went live in May 2023 until the bug forced its validators offline. The digital asset ranks eighth out of all chains in terms of total value locked (TVL), or the value of assets locked in smart contracts on Sui’s network, according to DefiLlama.
The ability of the Sui network to start producing blocks again is encouraging for both its users and the larger blockchain community. It highlights the network’s infrastructure’s adaptability and resilience in handling and resolving technical issues. Stakeholders will closely observe the network’s performance as it stabilizes to guarantee dependability and effectiveness in its ecosystem.
Sui dubbed a “Solana killer” for its emphasis on quick transaction speeds, had an outage Thursday that mirrored issues Solana occasionally encountered. The most recent outage occurred in February of this year, and Solana had five significant outages in 2022.
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