Sui Network, a New Blockchain From Ex-Meta Employees, Launches Its Testnet
The competitor to the Aptos blockchain said that developers can continue to use its devnet.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/KCUS3RQDPRFJ5AFEA62VATWLGM.jpg)
(SpaceX/Unsplash)
Sui Network, a layer-1 blockchain created by ex-Meta (nee Facebook) engineers got a step closer to going live by announcing it has opened its testnet – a place where the viability of the technology can get a more thorough examination.
The testnet “Wave 1” will be used for validators and full nodes to “improve decentralized coordination + incident response, and identify a core group of operators who have experience in deploying, monitoring, and debugging,” the company shared over Twitter.
Sui has gained a lot of momentum over the past few months and is seen as a competitor to the Aptos blockchain – another layer 1 that was founded by ex-Meta employees. Aptos and Sui both use the same programming language called Move.
In September, Mysten Labs, the company behind the Sui Blockchain, raised $300 million in a funding round led by the now defunct FTX Ventures. The funding round also valued Mysten labs at $2 billion. In October, developers of the Sui blockchain launched Mist units to improve the network’s payment system.
Sui’s developer network (devnet) will stay live and be used by developers to test and build their decentralized applications (dapps).
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.