Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Sui Network Is Back After Experiencing Over Two-Hour Halt

Sui Network Is Back After Experiencing Over Two-Hour Halt

CryptotaleCryptotale2024/11/21 05:39
By:Gabriele
Sui Network Is Back After Experiencing Over Two-Hour Halt image 0
  • Block production on Sui Network stalled for over two hours, but was fixed eventually.
  • Onchain data confirmed no blocks were produced on Sui for 2 hours, prompting concerns.
  • Sui token declined 6.99% as the Sui network faced downtime and community complaints.

The Sui Network, a decentralized layer-1 blockchain designed for high-speed smart contract execution, experienced a major outage on November 21. Block production on the blockchain ceased for over two hours, disrupting transaction processing. The situation has however been fixed and blocks are already in production during this press.

According to onchain data from SuiVision, the last block after halt was recorded at 09:15:58 UTC, and no new blocks were produced for two hours. The incident has drawn significant attention, with the blockchain community raising concerns about its impact on the network’s reliability. 

Sui’s team acknowledged the issue in a public update. They confirmed the network was down and assured users that the problem had been identified. The team said, “The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved.” 

Notably, despite Sui’s reassurance, the prolonged downtime led to widespread discussion and scrutiny across social platforms, particularly X (formerly Twitter).

Community Concerns Over Reliability

Some users voiced concerns about the network’s ability to maintain reliability under stress. Observers noted the critical nature of the incident, suggesting that the response from developers, validators, and the broader community would play a pivotal role in determining user trust. Others likened the situation to early challenges faced by high-performance Layer-1 blockchains, emphasizing that these hurdles are not uncommon in the initial phases of blockchain projects.

This downtime has led to varied opinions within the community. While some speculated that technical setbacks like these could threaten the network’s operations, others remained optimistic. They framed it as a common issue in developing blockchain systems.

Market Impact and Validator Challenges

The outage has coincided with fluctuations in Sui’s market performance. The price of the SUI token dropped by 6.99%, with a trading volume exceeding $2 billion. After the fix, the token has since recovered, trading at $3.66 at press time, down by 1% in the last 24 hours.

Community members have suggested that some validators faced issues during the outage. The Sui team confirmed the investigation into the matter while it was reported. Validators play a critical role in the network’s block production and transaction processing, and their performance is central to maintaining uptime.

The post Sui Network Is Back After Experiencing Over Two-Hour Halt appeared first on CryptoTale.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Ripple announces tokenized money market fund launching on XRP Ledger

Ripple said a tokenized money market fund has launched on the XRP Ledger.The launch was made possible through a partnership with Archax, an FCA-regulated digital asset exchange.

The Block2024/11/25 21:23

The Daily: MicroStrategy buys record $5.4 billion in bitcoin, Sky Mavis cuts 21% of its workforce and more

Business intelligence firm and corporate bitcoin holder MicroStrategy purchased another 55,500 BTC for $5.4 billion between Nov. 18 and Nov. 24, according to an 8-K filing with the SEC on Monday.Axie Infinity crypto game developer Sky Mavis is laying off 21% of its workforce, affecting about 50 of its 250 global team, amid a “shift in priorities,” according to CEO and co-founder Trung Nguyen.Solana’s decentralized exchanges surpassed $100 billion in monthly trading volume for the first time, generating a r

The Block2024/11/25 21:23

Justin Sun's Tron buys $30 million of Trump-backed World Liberty Financial tokens

Tron founder Justin Sun said his firm has bought $30 million worth of World Liberty Financial tokens, the crypto project supported by newly-elected U.S. President Donald Trump.Sun said the purchase made Tron the largest investor in World Liberty Financial.

The Block2024/11/25 21:23