The Sui (SUI) testnet has been dormant for almost 24 hours. The status of the testnet for the altcoin remained in the “sync” option for a while. Here are the details…
Transactions stopped in new altcoin project
Sui had a pause in the past few days. The testnet of the new cryptocurrency got stuck in the sync process for a while. According to the platform’s official Discord account, this appears to be related to a protocol version upgrade. It is stated that although the testnet is affected as a result, DevNet is not affected. As we have also reported as Kriptokoin.com, it is reported that Sui will go to the mainnet on May 3, 2023. Sui was introduced as the first “permissionless” layer-1 blockchain that allows developers and manufacturers to create experiences with instant certainty, inexpensive costs, and horizontal scalability.
Sui, the first product of Web3 infrastructure firm Mysten Labs, is a rapidly expanding platform. As we have reported as Kriptokoin.com, Sui Blockchain aims to support Web3 and NFTs. Sui is backed by Mysten Labs, the Web3 infrastructure organization founded by Meta’s former senior executives of Novi Research. It consists of experts in cryptography, programming languages and distributed systems. Created by the leaders of the team behind Meta’s Diem project, Sui stands out as “Diem’s successor” according to some. The unique features and programming language of this network are believed to solve the problems of scalability, security and gas fees. The fact that Sui recently announced a successful $300 million Series B funding round shows that the blockchain platform is not just a trend.
Sui offers a seamless integration process
Sui Network has its own programming language called Move, which is designed to be safe and effective for smart contract development. In March 2022, Sui Network launched a permanent testnet. Thus, it hosted various events to develop developers. Sui Network also has a browser extension called Sui Wallet.
According to Evan Cheng (Mysten Co-Founder and CEO), Web3 is currently in the “dial-up” phase where processes are slow, expensive, insecure and difficult to create. This is why altcoin Sui is being launched with the aim of eliminating middlemen and allowing users to seamlessly integrate and interact with their favorite products across apps.
Sui powered by OKX
Meanwhile, OKX Web3 Wallet has reached a cooperation agreement with Layer1 public chain Sui Network, making OKX Web3 Wallet the first multi-chain wallet to support Sui Mainnet. Sui Network official website now supports OKX Web3 wallet and has included it on its ecological viewing page along with Ouyi NFT marketplace among others for users to discover and experience. In addition, users can also use the OKX Web3 wallet to switch to the Sui mainnet for transactions.
As a result, the lack of post-processing on Sui Network’s testnet may be due to a protocol version upgrade, and the network’s mainnet is scheduled to launch on May 3, 2023.
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