Sui Network faced a two-hour outage caused by a scheduling bug, leading to a temporary halt in SUI transactions. Learn how the blockchain recovered and its impact on SUI tokens.
Author: Tanishq Bodh
Written On: Thu, 21 Nov 2024 13:18:38 GMT
The Sui Network (SUI), a rising blockchain platform, experienced a two-hour outage on Thursday due to a bug in its transaction scheduling logic, which caused the validator network to crash. The issue has since been resolved, and the network is fully operational.
The downtime stemmed from a transaction scheduling bug that disrupted synchronization among validators. This crash temporarily halted network operations, prompting exchanges like Upbit to suspend SUI transactions to protect users.
Blockchain outages, while rare, can occur due to various factors:
For Sui, this particular issue arose from the transaction scheduling logic, a crucial component for processing blockchain transactions efficiently.
During the outage, SUI tokens dropped nearly 7%, reflecting reduced trading activity and user concerns. However, following the resolution, SUI quickly recovered, showcasing resilience in the market.
While outages can tarnish trust in new blockchain projects, the Sui Network acted promptly to address the issue, restoring operations within two hours. The team is now likely to implement additional safeguards to prevent similar occurrences in the future.
Exchanges, too, were quick to respond, with trading suspensions minimizing potential risks for users. As Sui continues to grow, robust solutions to enhance network reliability will be critical to maintaining its credibility.
The incident underscores the challenges new blockchain networks face but also highlights the industry’s ability to recover quickly from technical setbacks.
Real voices. Real reactions.
Add your reaction to this story:
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
Ether.fi Joins HyperLiquid Ecosystem With New ‘beHYPE’ Liquid Staking Token
Anyone Protocol Expands to Base Ecosystem
Redbelly Unveils AI-Ready Blockchain Infrastructure for Tokenization and Compliance
GENIUS Act Heads to Trump’s Desk After House Passage
Ether.fi Joins HyperLiquid Ecosystem With New ‘beHYPE’ Liquid Staking Token
Anyone Protocol Expands to Base Ecosystem
Redbelly Unveils AI-Ready Blockchain Infrastructure for Tokenization and Compliance
GENIUS Act Heads to Trump’s Desk After House Passage