On November 21, the layer 1 blockchain Sui, designed to quickly deploy smart contracts, experienced a serious outage, causing the block production process to be suspended for more than an hour.
According to data from the Sui Network explorer, SuiVision, the Sui blockchain stopped operating as no blocks were created for more than an hour. The last transaction block was recorded at 9:15 UTC (16:15 Vietnam time), and until now, no new blocks have appeared.
Many industry experts quickly reacted to this incident, especially since Sui has been touted as a potential competitor to Solana, and one of the blockchains with ambitions to become the "Solana Killer", in the context of Solana being the fourth-largest cryptocurrency by market capitalization.
"The SUI blockchain has stopped working while they claim to be the 'Solana Killer'," YouTuber Ajay Kashyap criticized.
This incident also impacted the value of the network's native token, as SUI dropped nearly 11%, to around $3.41. However, this token has maintained an impressive growth of around 76% over the past 30 days.
Some major exchanges have taken action in response to this incident. The South Korean exchange Upbit has temporarily suspended SUI deposits and withdrawals due to network issues.
Meanwhile, as of now, the Sui Foundation has not issued any official statement about the cause or the time for the restoration of operations.
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Annie
According to Cointelegraph
