2024

Solana

Evan

DeFi

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. 
<h2 id="sui-network-restored-after-downtime">Sui Network Restored After Downtime</h2> 
According to the official <a href="https://x.com/SuiNetwork/status/1859569509687849469" target="_blank" rel="noopener" data-wpel-link="external">announcement</a> 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. 
<blockquote>
 “The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved.”
</blockquote> 
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&nbsp;<a href="https://upbit.com/service_center/notice?id=4660" target="_blank" rel="noopener" data-wpel-link="external">suspend</a> SUI deposits and withdrawals temporarily. 
<h2 id="sui-the-solana-killer">SUI – The ‘Solana Killer’?</h2> 
Sui, a Layer 1 blockchain <a href="https://cryptopotato.com/what-is-sui-network/" target="_blank" rel="noopener" data-wpel-link="internal">founded</a> 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 <a href="https://x.com/juzybits/status/1859536864434073712" target="_blank" rel="noopener" data-wpel-link="external">responses</a> from industry observers, many of whom <a href="https://x.com/AlwaysBeenChoze/status/1859577658704810407" target="_blank" rel="noopener" data-wpel-link="external">highlighted</a> Sui’s aspirations to <a href="https://x.com/zhouKelvinZzzz/status/1859557241122422950" target="_blank" rel="noopener" data-wpel-link="external">rival</a> 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 <a href="https://cryptopotato.com/solana-outage-sparks-centralization-debate-network-reliability-questioned/" target="_blank" rel="noopener" data-wpel-link="internal">outage</a> on February 6th. No further incidents have been reported since. 
According to <a href="https://defillama.com/chain/Sui?groupBy=weekly" target="_blank" rel="noopener" data-wpel-link="external">data</a> 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 <a href="https://cryptopotato.com/sui-network-suffers-outage-due-to-bug-in-transaction-scheduling-logic/" rel="nofollow">Sui Network Suffers Outage Due to Bug in Transaction Scheduling Logic</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Sui Network Suffers Outage Due to Bug in Transaction Scheduling Logic

Table of Contents

CryptoPotato_News

Other articles published on Nov 21, 2024

Optimism (OP) Outperforming Crypto Market With 17% Surge

Cardano (ADA) to Kickstart New Uptrend if Price Closes Above This Key Level

Department Of Government Efficiency Price Prediction: DOGE Soars 19% As Investors FOMO Buy Pepe U...

Bitcoin Market Cap Approaches $2 Trillion, Targets Amazon and Alphabet

Bitcoin Hits All-Time High of $75,000 Amid U.S. Election Buzz

$1.29 Resistance vs. $0.95 Support: XRP’s Price Direction Hangs in the Balance

Join our free newsletter for daily crypto updates!