Sui Network Restarts Transaction Processing Following 2-Hour Downtime
Sui Network, a Layer-1 blockchain often dubbed the Solana Killer, has been restored after a two-hour downtime. The technical team behind the blockchain made the announcement that Sui Network is now back online, allowing validators to resume approving transactions.
This outage marks the first major network issue for Sui, with block production being halted for more than two hours due to an issue in transaction scheduling logic that caused the network’s validators to crash. The official X handle for Sui also acknowledged the problem and assured users that a quick fix was being implemented.
Despite the setback, the network was quickly restored, with validators working together to bring operations back to normal. Sui Network, launched in May 2023, is a decentralized blockchain allowing smart contract deployment and simultaneous processing of multiple transactions. It had previously been praised for its operational stability, leading it to be compared to Solana.
Solana, a blockchain that has faced multiple outages since its launch in March 2020, is known for technical issues such as mainnet outages and degraded performance. Sui experienced a price drop following the recent network outage but saw a rebound as operations were restored. Analysts project a potential rise above $4 for Sui in the near future, with long-term predictions suggesting a climb towards $10 based on strong on-chain activity and positive technical signals.
