Sui Network dubbed the ‘Solana (SOL) killer,’ suffered a major outage on November 21, which halted block production for over an hour.
The outage was reportedly caused by a bug in the network’s transaction scheduling logic, which caused the validator network to crash, an issue confirmed by Sui through an X post.
The platform stated that the incident has been resolved. However, the outage raised questions after Sui went silent for almost two hours, during which no blocks were produced.
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This lapse led to a price decline for the platform’s native token, SUI, which dropped by almost 7% at one point.
“The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved,” Sui noted.
Further analysis by ExVul, a cryptocurrency security platform, revealed that the outage was likely caused by a DoS (Denial of Service) bug in the system.
Following the downturn, several exchanges, including Upbit, temporarily suspended SUI transactions.
Can Sui compete with Solana?
Interestingly, this development has fueled doubts about Sui’s ability to compete with Solana, which is currently ranked as the fourth-largest cryptocurrency by market capitalization.
It’s worth noting that Solana has faced similar outages in the past, which cast doubt on its ability to compete with established networks like Ethereum (ETH).
This outage is significant as it marks the first major downturn on the Sui mainnet. While Sui had experienced similar outages, they were primarily observed on the testnet.
All in all, over the past 90 days, Sui has maintained an uptime of over 99%.
Meanwhile, Sui has garnered significant attention recently, driven primarily by meme coin activity on the network, with tokens like Sudeng (HIPPO) leading the way.
SUI’s valuation also surged due to other initiatives, such as integrating USDC into its blockchain, which boosted user and network activity.
SUI price analysis
As of press time, SUI was trading at $3.63, dropping by about 2.6% in the last 24 hours. Over the past seven days, however, the token has gained nearly 10%.
All in all, Sui Network’s outage raises concerns about its ability to compete with Solana. While Solana has overcome similar challenges in the past, the same cannot be guaranteed for Sui, highlighting the need for the network to strive for greater stability.
Featured image via Shutterstock
