From Blocks to Standstill: Sui Mainnet Outage Freezes Onchain Activity

TL;DR:

On Wednesday, the Sui blockchain is grappling with a mainnet outage tied to a consensus malfunction impacting validators networkwide, bringing block production to a standstill and leaving transactions frozen in place. So far, the chain has been offline for nearly three hours, after going down just b...

Key Points:

Background:

Protocol upgrades involve changes to a blockchain's underlying code to add features, improve performance, or fix security issues. Major upgrades like Ethereum's transition to Proof-of-Stake or Bitcoin's Taproot activation represent significant technical milestones in blockchain evolution.

Why It Matters:

Protocol upgrades can fundamentally change how a blockchain operates, affecting scalability, security, and functionality. These technical improvements drive long-term value and competitiveness of blockchain networks in the rapidly evolving crypto ecosystem.