• Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021
No Result
View All Result
CryptoABC.net
No Result
View All Result

Sui Dubbed Next Solana as Blockchain Outage Lasts 2 Hours

November 22, 2024
in Australian Crypto News
Reading Time: 3min read
0 0
A A
0
Sui Dubbed Next Solana as Blockchain Outage Lasts 2 Hours
0
SHARES
7
VIEWS
ShareShareShareShareShare
  • The Sui Network, a Layer-1 blockchain, experienced its first major disruption since its May 2023 launch, with block production halted for two hours on November 21, 2024, due to a critical bug in the transaction scheduling logic.
  • The bug, triggered by a specific transaction type, caused all validators to crash, but the Sui development team and validators swiftly deployed fixes, restoring block production and stabilising the SUI price, which had fallen by 10% during the downtime.
  • The incident highlighted vulnerabilities in blockchain scalability and prompted Sui to commit to improving testing systems and optimising response times to prevent future disruptions.

On November 21, 2024, the Sui Network, a Layer-1 blockchain, faced its first major disruption since launching in May 2023. 

Block production was halted for approximately two hours, from 1:15 AM to 3:45 AM PT, due to a critical system bug.

Related: Bloomberg: Trump Considers Establishing First-Ever White House Crypto Role

The Solana Killer Goes Down

The issue was traced to a bug in the transaction scheduling logic. Specifically, an error in the congestion control code caused all network validators to crash. The problem was triggered when a transaction with both a mutable shared object input and zero MoveCall commands entered the system. 

This unusual combination exposed a vulnerability in the transaction handling process, leading to the unexpected shutdown. The Sui development team, alongside its validator community, promptly identified the source of the issue and deployed a fix. 

Version 1.37.4 of the Sui software was released to the Mainnet, while Testnet received version 1.38.1. Thanks to their swift response, block production resumed within two hours, restoring normal network operations.

However, that didn’t stop SUI, Sui’s native currency, from experiencing massive price swings throughout the day. 

The SUI price fell approximately 10%, dropping from US$3.70 (AU$5.68) to US$3.35 (AU$5.15) during the downtime. Once the outage was fixed, the price stabilised and even rebounded to US$3.66 (AU$5.62).

SUI’s daily price, source: CoinMarketCap

The incident sparked mixed and humorous reactions from the crypto community. Some users drew comparisons between Sui and Solana, another Layer-1 blockchain known for its history of outages. 

Sui, often seen as a potential competitor to Solana (and even dubbed the Solana Killer), had been recognised for its network stability, so the downtime highlighted vulnerabilities that many blockchains face as they scale.

While as bad as this was for the Sui community, at least we can crack some jokes about it, right?

Related: XRP, ADA Rank as Top Weekly Gainers; Here’s Why

In response to the outage, the Sui team has committed to enhancing its testing systems and optimising incident response times. These measures aim to prevent similar disruptions in the future and to ensure quicker resolution of unexpected issues.

Credit: Source link

ShareTweetSendPinShare
Previous Post

BTC Eyes $100K as US Spot ETFs Break Through $100 Billion

Next Post

XRP Price 25% Rally: Breaking Barriers and Surpassing Odds

Next Post
XRP Price 25% Rally: Breaking Barriers and Surpassing Odds

XRP Price 25% Rally: Breaking Barriers and Surpassing Odds

You might also like

Kalshi and Polymarket Each Eye $20B Valuations as Prediction Markets Hit $18B Monthly Volume

Kalshi and Polymarket Each Eye $20B Valuations as Prediction Markets Hit $18B Monthly Volume

March 9, 2026
Ripple Expands Stablecoin Payments Push to Challenge Legacy Banking Rails

Ripple Expands Stablecoin Payments Push to Challenge Legacy Banking Rails

March 4, 2026
Uniswap (UNI) Price Rallies 6.53% – Is Now the Time to Buy? Comprehensive Analysis & Trading Insights

LDO Price Prediction: Targets $0.32 Breakout as Technical Indicators Signal Potential Recovery

March 7, 2026
Institutional Accumulation: US Bitcoin ETFs and MicroStrategy Drive $1.2B Demand Surge

Institutional Accumulation: US Bitcoin ETFs and MicroStrategy Drive $1.2B Demand Surge

March 4, 2026
SUI At Decision Point: RSI Trendline Could Trigger A Drop Or Bounce

SUI At Decision Point: RSI Trendline Could Trigger A Drop Or Bounce

March 9, 2026
What’s Happening With The Bitcoin, Ethereum, And Dogecoin Prices Recently?

Why Did Bitcoin Price Crash To $67,000, And Ethereum Price Fell Below $2,000?

March 9, 2026
CryptoABC.net

This is an Australian online news/education portal that aims to provide the latest crypto news, real-time updates, education and reviews within Australia and around the world. Feel free to get in touch with us!

What's New Here!

Bitcoin Stabilizes, But Glassnode Warns Spot Demand Is Still Weak

Bitcoin Stabilizes, But Glassnode Warns Spot Demand Is Still Weak

March 10, 2026
Bitcoin Price Shows ‘Signs of Improvement’ as Iran Conflict Fears Ease

Bitcoin Price Shows ‘Signs of Improvement’ as Iran Conflict Fears Ease

March 10, 2026

Subscribe Now

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 cryptoabc.net - All rights reserved!

No Result
View All Result
  • Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021

© 2021 cryptoabc.net - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter CoinGecko Free Api Key to get this plugin works.