Sui Network, a layer-1 blockchain created by ex-Meta (formerly Facebook) engineers, moved one step closer to going live by announcing the launch of its testnet – a place to examine the technology’s viability more thoroughly.
According to the firm’s tweet, “Wave 1” of the testnet will be for validators and full nodes to enhance decentralised coordination and incident response and identify a core set of operators with expertise in installing, monitoring, and debugging.
Sui has gained significant traction recently and is viewed as a rival to the Aptos blockchain — another layer 1 developed by ex-Meta personnel. Both Aptos and Sui employ the same programming language, Move.
🎉🥳Hello Validators! A milestone for the #Sui history books: Sui Testnet Wave 1 is live!🌊
This is a huge step towards a decentralized Sui Mainnet, as this is the first instance of a Sui Network with non-Mysten Labs operators.
Builders: continue building on Devnet 🧵(1/8)
— Sui (@SuiNetwork) November 17, 2022
In September, the now-defunct FTX Ventures led a $300 million fundraising round for Mysten Labs, the startup behind the Sui Blockchain. The valuation of Mysten laboratories during the fundraising round was $2 billion. In October, the Sui blockchain’s developers released Mist units to enhance the network’s payment mechanism.
Developers will continue to use Sui’s development network to test and build decentralized applications.