By announcing the opening of its testnet, a location where the viability of the technology may get a more in-depth study, Sui Network, a layer-1 blockchain developed by ex-Meta (nee Facebook) engineers, moved one step closer to going live.
In order to "enhance decentralized coordination + incident response, and identify a core group of operators who have experience in deploying, monitoring, and debugging," the testnet "Wave 1" will be utilized for validators and complete nodes, the business said on Twitter.
Sui is viewed as a rival to the Aptos blockchain, another layer 1 that was established by former Meta personnel, and has garnered a lot of traction in recent months. Sui and Aptos both employ the Move programming language.
The Sui Blockchain's creator, Mysten Labs, earned $300 million in a fundraising round led by the now-defunct FTX Ventures in September. Mysten Labs was likewise valued at $2 billion in the fundraising round. Mist units were introduced in October by the Sui blockchain's creators to enhance the network's payment infrastructure.
Developers can continue to use Sui's developer network (devnet) to test and create their decentralized applications (dapps).