SUI network again after failure online

• SUI, a layer 1 blockchain network that supports decentralized finances, has resumed block production.
• The team says that a mistake was fixed that led to the crash of the validators.

The Sui (SUI) team announced the resumption of transaction processing after the network was offline for almost two hours due to a "large failure".

On November 21, the SUI team confirmed that the network could not produce new blocks and explains that the team was working on a solution. The special failure that occurred when the cryptom market was grumbling with increased activity had taken almost two hours.

Suis Team had noticed beforehand:

"Service announcement: The SUI network is currently unusual and does not process transactions. We have identified the problem and will shortly provide a solution. We would like to thank you for your patience and will continue to provide updates."

However, SUI is now online again after being repaired.

"Thanks to the quick work of the incredible community of the SUI validators, the SUI network is back into operation and processes transactions. The two-hour downtime was caused by an error in the transaction planning logic, which led to the crash of validators, which has now been remedied" Noopener "Target =" _ Blank "href =" https://x.com/suinetwork/status/1859569687849469 "> Posted on X.

SUI price

Following the message, the price of SUI, the native token of the L1 blockchain network, dropped strong. Market dates show that the price of high levels fell from $ 3.62 to $ 3.36

However, the SUI/USD couple was traded by about $ 3.49 at the time of writing this article, which corresponds to a decrease of 5 % after a slight increase than Bitcoin broke through the $ 98,000 mark. Sui wanted to further reduce this loss.

important developments in the SUI network

SUI recently welcomed the native support for the First Digital USD StableCoin and thus contributed to the expansion of the ecosystem. FDUSD on SUI is intended to strengthen the liquidity and transaction efficiency of the network and bring the traditional finance further advantages of decentralized financing.

The Total Value Locked (TVL) of the Layer 1 blockchain has recently increased to over $ 1.3 billion due to several important developments. This included the introduction of the native USDC in the network and the idea of ​​the Sui Trust by Grayscale. The introduction of a SUI-based financial product by the investment company Vaneck also increased optimism.

according to defillama suis tvl is over 2.4 billion US dollars. The SUI token Prize rose by 78 % last month and last year by over 520 %.