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SUI Price Faces Potential 10% Drop Due to Market FOMO SUI Price Faces Potential 10% Drop Due to Market FOMO

Sui Network Resolves Bug After Two-Hour Blockchain Outage

Sui, decentralized Layer-1 blockchain. faced a two-hour outage early on November 21 before recovering.

The company addressed the disruption on its X account, attributing the issue to a scheduling bug.

Sui Network Experiences Two-Hour Crash After User Surge

Sui’s blockchain cited their two-hour downtime due to a scheduling bug. This issue caused its validators to stop producing new blocks, leading to a temporary halt in network operations. Interestingly, the crash comes after the blockchain experienced a surge in active users. From November 7 to 19, their number of daily users jumped from 668,000 to 826,000.

Sui Network Active Accounts. Source: SuiVision

The outage was met with mixed reactions from the community. Some were impressed with how quickly validators were able to nip the issue in the bud. In contrast, others had reasonable concern over the stability of the blockchain and their SUI investments.

“Two hours of downtime for Sui Network? That’s a massive red flag for a blockchain that’s supposed to be cutting-edge,” one X user said.

Users were quick to draw parallels between Sui’s outage and the similar situation Solana’s blockchain experienced in February. On the sixth of the month, Solana had an outage that lasted nearly five hours. Considering that Sui’s blockchain was dubbed as the ‘Solana killer’ for its stability, this recent outage may very well put that nickname in danger.

“SUI, the famed Solana killer, just had a 1-hour outage today. And contrary to what common sense may dictate, this is BULLISH!! It’s truly following the footsteps of the Blockchain its looking to replace. And we know how that went,” another X user added.

Right before the outage, SUI was trading at approximately $3.70, falling to a steep decline of just $3.35 during the incident time. On its road back to recovery, it has nearly reached its pre-crash price, resting at $3.54 at press time.

SUI price
SUI 1D Price Performance. Source: BeInCrypto

Incidents like this highlight the challenges of creating a reliable digital system in the evolving cryptocurrency industry. It also serves as a lesson for other networks to improve their resilience and reliability.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Farah Ibrahim

https://beincrypto.com/sui-resolve-bug-after-outage/

2024-11-21 15:53:28

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