The Sui Network, a layer 1 blockchain developed by Mysten Labs, is experiencing a network outage on Thursday after the project said its mainnet had “crashed,” temporarily halting transaction processing.
“Sui Mainnet is currently experiencing a network outage. The Sui Core team is actively working on a resolution,” the project wrote on
The disruption appeared to interrupt activity on the network, although the team had not yet disclosed the cause of the problem at the time of writing.
The incident marks yet another in a series of technical disruptions for Sui. The blockchain has previously experienced periods of performance degradation and outages, including one earlier this year.
Launched in 2023, Sui is among a group of newer layer 1 blockchains that compete with Ethereum and Solana by offering fast transactions and low fees. The network’s native SUI token is down 8% in the past 24 hours, although broader crypto market conditions were mixed.
Blockchain outages remain a closely watched issue for traders and developers, especially for networks that market themselves as high-performance infrastructure for decentralized finance and gaming applications.
The Sui team said it would provide additional updates as the investigation continues.
Read more: Crypto for Advisors: Breaking Down the Sui Blockchain