Sui Network, a layer-1 blockchain developed by Mysten Labs, faced its first significant outage, halting transactions for two hours due to a bug in transaction scheduling logic that caused validators to crash. Following the incident, a patch was promptly implemented and accepted by the validator community. Since launching in May 2023, Sui had not experienced downtime until now, with a previous temporary outage occurring during a testnet phase in June. The total value locked (TVL) in Sui's network reached $1.6 billion, marking a 55% increase in the past month. During the outage, SUI token prices plummeted to $3.36 but later recovered to $3.68 before declining again, reflecting nearly a 5% decrease over the day. The outages are reminiscent of past issues faced by other blockchains like Solana, with discussions highlighting the challenges of maintaining uptime while pushing technological boundaries. Sui did not provide immediate comments following the outage announcement.

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