Sui Network’s explorer failed to record transaction activity on the platform.
The daily number of transactions and addresses on the network showed a positive trend.
The Sui Network [SUI] recently shaken things up by taking a unique approach to its token launch, which attracted media attention. However, the latest update is not pleasant, as the network’s explorer failed to accurately capture and display transactions on the platform.
This setback has become a cause for concern among users and stakeholders.
Stop transaction records on Sui Network
Based on data from the Sui Network scanner, there has been a worrying lack of activity over the past 24 hours, with no records of block production or transactions on the platform.
The scanner revealed that the last recorded block transaction took place in Epoch 766, more than a day ago.
Source: Sui Explorer
However, there were indications that transactions were still going on on the platform, although the explorer did not reflect these updates. It is essential to note that while the Sui network has received a lot of attention, the current version remains a testnet.
The current explorer glitch appears to be due to a recent Sui network update. The information displayed on the scanner indicated that the network was currently syncing, which may be the cause of the data update failure.
The state of Sui Network
According to the Sui scanner, the total transaction volume on the testnet reached 341 million at the time of writing. Further examination of the transaction data also revealed a positive trend in daily network transactions since April 10.
The average number of transactions on the platform was 500,000 per day, sometimes over 1 million. However, on April 19, there was a significant peak with more than 10 million transactions.
Source: Sui Explorer
Unfortunately, the recent outage of Explorer halted transaction activity, causing numbers to stagnate ever since.
In addition, data from the Sui scanner indicated a continuous increase in the number of addresses on the platform. At the time of writing, there were more than 15.4 million addresses on the Sui network.
The chart revealed that the daily total number of addresses rose to over 137,000 on April 19, as did the transactions chart. Unfortunately, the bug in the explorer has caused the daily address count to remain static.
Source: Sui Explorer
A look at the SUI token
SUI’s tokenomics outlined that the total supply of the token is limited to 10 billion. It serves multiple purposes on the network, including payment for gas fees, staking and governance, and providing on-chain liquidity for the Sui economy.
In addition, according to a report by Wu Blockchain, OKX has started its SUI Initial Exchange Offering (IEO) subscription. The public sale for the IEO is 225 million tokens, with each SUI selling for $0.1.
This post Sui Network is experiencing a worrying outage, but there’s more to it
was published first on https://ambcrypto.com/sui-network-undergoes-an-outage-raising-concerns-but-theres-more-to-the-story/
