Decentralized Layer-1 blockchain Sui Network confronted a serious downtime with no blocks produced in the previous few hours. The information from Suivision confirmed that the community confronted a “major outage” as some validators confronted issues with approving transactions. SUI worth tumbled 10% however recovered because the community began processing transactions once more.
Sui Network Faced Major Outage
The Sui Network has been down for greater than two hours, in response to studies from Suivision. The blockchain didn’t produced any blocks since 09:15 UTC at this time.
The Sui group members have reported points with some validators, and the crew is presently investigating the reason for the disruption. The official deal with on the X platform has acknowledged this downtime:
“The Sui network is currently experiencing an outage and not processing transactions. We’ve identified the issue and a fix will be deployed shortly. We appreciate your patience and will continue to provide updates.”
Dubbed the Solana-killer, that is the primary time that the Sui Network has been going through such an outage. Referring to the previous outages for Solana, the crypto group members have been taking jabs at Sui. Some wrote “No wonder Sui is the next Sol” whereas others referred to as it a “Solana moment. Bullish”. It has additionally triggered a meme frenzy with “first time?” tags on the X platform.
Solana people to Sui people proper now: pic.twitter.com/jJFY6i2vju
— juzy (@juzybits) November 21, 2024
According to SanXz, the Sui Network is definitely not down. The analyst added that the Sui crew is actively investigating an RPC difficulty associated to validators, which has brought about disruptions.
However, one consumer ‘reisen’ responded to this evaluation by saying: “Having nodes/validators operational is useless when no blocks are produced – So not producing blocks for 1:50h is equivalent to being down”.
The Sui community is again up and processing transactions once more, because of swift work from the unbelievable group of Sui validators.
The 2-hour downtime was attributable to a bug in transaction scheduling logic that brought about validators to crash, which has now been resolved. https://t.co/TJh2zwvQcD
— Sui (@SuiNetwork) November 21, 2024
Price Tumbled 10% During Downtime?
While the SUI worth may see some volatility because the community resumes transactions, the group hasn’t turned bearish but. One X platform deal with Bullishify.sui wrote:
“Sui pulling a Solana? Remember when $SOL went down in Dec 2020, then ripped 1000% right after? $SUI like, ‘Yeah, we’re following the script too.’ Buckle up, fam!”
The SUI worth recovered after dropping 10% over the past 24 hours, and presently buying and selling at $3.63. As per CoinGape evaluation, SUI price can rally to $18 with 750% positive aspects on the month-to-month timeline and greater than 500% positive aspects on the yearly timeline.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of economic markets. His curiosity in economics and finance has led him to give attention to rising Blockchain know-how and cryptocurrency markets. He is dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and infrequently explores his culinary expertise.
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