insidebitcoins.com
Decentralized layer-1 blockchain Sui, known for its rapid smart contract deployment and goal to become a Solana-killer, experienced an outage today with no blocks being produced for more than 2 hours.
Data from the Sui blockchain explorer SuiVision shows that the last block on the network was produced at 9:15 a.m. UTC, with no new blocks being appended to the network’s chain since.
The Sui status page shows that the network is experiencing a “major outage” and that mainnet validators are down.
Industry Observers React To Sui Network Outage
Several industry observers have reacted to the project’s network outage. Many noted the project’s goal to be one of Solana’s biggest competitors.
“SUI blockchain is down,” said crypto YouTuber Ajay Kashyap on X, before adding,“ And they claimed to be a Solana Killer.” Many are also calling SUI “this cycle’s Solana,” referring to the numerous outages the Solana network has experienced in the past.
“It is with great pause, I declare $SUI officially the next $SOL,” said Ben Armstrong, who was formerly known as BitBoy.
It is with great pause, I declare $SUI officially the next $SOL.
How many times do I have to say it?
Can't wait to hear from the team on this one. Solana has taught us that its way better for a blockchain to be overwhelmed than not used. https://t.co/NaZBtqXrTj
— The BitBoy (@BenArmstrongsX) November 21, 2024
A few major crypto exchanges have also reacted to the outage by halting withdrawals and deposits via the Sui blockchain. Among these platforms is the South Korean platform Upbit.
Sui Team Says A Fix Will Be Deployed “Shortly”
The outage had a negative impact on the price of SUI, which dropped more than 4% to trade at $3.49 as of 8:03 a.m. EST. Despite this pullback, the crypto is still over 78% in the green on the monthly time frame. Meanwhile, Solana’s SOL gained 2%.
Service Announcement: 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.
— Sui (@SuiNetwork) November 21, 2024
The project’s team recently responded to the outage on X, stating that the team has already identified the issue and will deploy a fix shortly.