Sui Network Officially Launches Testnet – Sui Testnet Wave 1

Sui Network, a layer-1 blockchain created by former Meta (formerly Facebook) employees, begins testing the testnet.

Sui Network – the blockchain of the “old man” Meta – launches testnet

The Wave 1 testnet is intended for validators and all nodes, as a “training” environment to improve decentralization, problem response, and find the core node operation team with experience. implementation testing, monitoring and error handling, according to the announcement.

The blockchain has gained a lot of momentum in the past few months and is considered a serious competitor to Aptos, another layer-1 also founded by former Meta employee. Aptos and Sui both use the same Move programming language.

If Aptos made waves with its airdrop right after the unexpected mainnet decision, this network has stated that there are no plans to reward users anytime soon.

In September, Mysten Labs, raised $300 million led by FTX Ventures, raising the company’s valuation to $2 billion. Recently, the development team launched Mist units, roughly equal to a smaller denomination of SUI tokens, to improve the network’s payment system. In addition, the Foundation also sponsors the project through the Developer Grant Program up to 100,000 USD and plans to pay more in SUI.

However, the devnet will continue to function and be used by developers to test and build their decentralized applications (dApps).

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