Sui Network, a layer-1 blockchain created by former Meta (formerly Facebook) employees, began implementing the testnet.
Testnet Wave 1, intended for validators and all nodes, is an “exercise” environment aimed at improving decentralization, incident response, and finding a core node operator team with experience deploying, monitoring, and handling errors, according to the announcement.
🎉🥳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
Sui has gained a lot of momentum over the past few months and is considered a serious competitor to Aptos, another layer-1 also founded by Meta’s former employee. Aptos and Sui both use the same Move programming language.
If Aptos took the airdrop by storm shortly after the surprise Mainnet decision, Sui said it had no plans to reward users anytime soon.
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In September, Mysten Labs, the company behind Sui Blockchain, raised $300 million led by FTX Ventures, raising the company’s valuation to $2 billion. Recently, the Sui development team has launched Mist units, roughly understood as the smaller denomination of SUI tokens, to improve the network’s payment system.
In addition, the Sui Foundation also funded the project through the Developer Grant Program up to 100,000 USD and plans to pay additional rewards in SUI.
However, the devnet will continue to work and be used by developers to test and build their decentralized applications (dApps).
