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.

Nov 17, 2022 at 9:07 p.m. UTC

Updated Nov 17, 2022 at 9:16 p.m. UTC

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

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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).

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