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.

AccessTimeIconNov 17, 2022 at 9:07 p.m. UTC
Updated Nov 17, 2022 at 9:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Margaux Nijkerk

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.


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.