November 21, 2024 Sui Network .cwp-coin-chart svg path { Stroke: ; line width: ; }
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– a new layer 1 and potentially 10x platform famous for its rapid smart contract deployments – experienced a two-hour network outage. Uh-oh.
We’ve spent much of this year praising Sui as ‘the next Solana,’ but is it also the next Solana in terms of network outages?
The surprise outage halted block production for more than an hour, sparking concerns and discussions about its reliability and what’s next.
Understanding the cause of the Sui network outage
The disruption in Sui blockchain operations is attributed to a bug in the transaction scheduling logic. This bug caused validators to crash, leading to a temporary halt in block production. Cryptocurrency security companies including ExVul identified the issue as a DOS (Denial of Service) bug caused by an integer overflow. ExVul further highlighted the bug’s potential location on GitHub, which helped formulate a quick fix.
The outage affected block production and had a significant impact on the blockchain’s native cryptocurrency, SUI. The token saw a sharp decline of almost 11%, falling to around $3.36.
Big ouch for all the bag holders. (Me! Guilty as charged)
Despite this setback, SUI remained up 75% over the past month, indicating resilience in the face of adversity.
Major exchanges, like South Korea’s Upbit, responded by temporarily suspending SUI deposits and withdrawals to protect users from possible disruptions. The move highlighted the interconnected nature of blockchain reliability and cryptocurrency market stability.
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The Sui Network’s response to downtime
The Sui Network is back up and processing transactions again, thanks to the rapid work of the incredible Sui validator community.
The 2 hour downtime was caused by a bug in the transaction scheduling logic that caused validators to crash, which has now been fixed.
– Sui (@SuiNetwork) November 21, 2024
This was Sui’s first big issue on the mainnet, but earlier in 2024 the testnet experienced similar issues: network downtime and RPC node outages that were fixed in a jiffy.
Lessons learned and hopefully Sui can avoid more outages in the future. Because otherwise, why not just invest in Solana?
Tim Kravchunovsky, founder and CEO of Sui-based decentralized network Chirp, noted that the problems are only part of the blockchain landscape, just like any internet outage. He noted that while downtime is undesirable, it reflects the occasional disruptions we experience with internet connectivity.
“Any blockchain aims to completely avoid such incidents, but sometimes breakdowns are inevitable,” Kravchunovsky noted.
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Outlook for Sui Crypto after an outage
In the future, Sui’s ability to maintain network stability, coupled with transparent communication, will be crucial to building trust between users and investors.
As the blockchain landscape continues to evolve, Sui’s experience with this outage will likely illuminate its path to greater reliability and innovation.
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Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.
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