{"id":27754,"date":"2022-11-18T11:58:36","date_gmt":"2022-11-18T06:28:36","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=27754"},"modified":"2022-11-18T11:58:36","modified_gmt":"2022-11-18T06:28:36","slug":"aptos-competitor-sui-network-launches-testnet","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/aptos-competitor-sui-network-launches-testnet\/","title":{"rendered":"Aptos competitor Sui Network launches testnet"},"content":{"rendered":"

Sui blockchain, a Mysten Lab product that focuses on creator incentivization, announced the launch of its testnet today via Twitter.<\/a> With the testnet live, it will be possible for the developers to get a closer look at the features associated with Sui, which is supposed to pose as a competitor for the newly launched Aptos blockchain network.<\/p>\n

Every blockchain requires a testnet before going at full throttle. Testnets help developers test the dApp, check for bugs, and try the chain out in real-world conditions. Sui\u2019s testnet, called Wave 1, is also intended to identify operators for a core group that can deploy, monitor, and debug as and when required. It will focus on improving incident response and decentralized coordination between the validators and nodes.<\/p>\n

Earlier this month, Mysten Labs, the crypto company behind Sui, received<\/a> funds worth $15 million from NCSoft, a firm that specializes in gaming. The company first managed to attract VC funds worth $300 million<\/a> in September this year.<\/p>\n

Sui and Mysten Labs: The background story<\/h2>\n

The aforementioned $300 million funding was meant to get Sui up and running. Leading the funding round was the now-bankrupt FTX. The funding round did work wonders for Sui, and as a result, the value of Mysten Labs rose to $2 billion.<\/p>\n

Then, in October, in an attempt to improve the blockchain\u2019s payment setup, the developers concerned introduced<\/a> Mist units. Mist units are similar to Satoshis in the case of Bitcoin. They make divisibility possible within the payment system and enable lower transaction fees.<\/p>\n

With the arrival of the testnet, Sui has taken one step closer to an official launch.<\/p>\n

Sui and Aptos<\/h2>\n

Sui and its potential competitor Aptos share many similarities. Like the recently launched and much discussed Aptos blockchain, Sui too is a layer-1 chain. Ex-Meta stalwarts were behind Aptos. The creators of Sui also have a similar background.<\/p>\n

Both blockchains also use the Move programming language.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sui blockchain, a Mysten Lab product that focuses on creator incentivization, announced the launch of its testnet today via Twitter. With the testnet live, it will be possible for the developers to get a closer look at the features associated with Sui, which is supposed to pose as a competitor for the newly launched Aptos […]<\/p>\n","protected":false},"author":76,"featured_media":27755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-27754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-11-13T20:17:51+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Sunil Paul\",\"description\":\"Sunil Mathew Paul brings the best of both worlds, combining his flair for writing with expertise in delivering niche content for the investment community.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/sunil-pcoinswitch-co\/\",\"sameAs\":[\"sunilmathewpaul\",\"https:\/\/www.linkedin.com\/in\/sunil-mathew-paul-382302a\/\"],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/98e19e7160d41179bbf77157108dfaf6?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/IG-1024x731.jpg\",\"width\":1024,\"height\":731}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer","key_takeways":false},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=27754"}],"version-history":[{"count":2,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27754\/revisions"}],"predecessor-version":[{"id":27758,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27754\/revisions\/27758"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/27755"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=27754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=27754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=27754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}