Title: The Importance of Resilience in the Face of Technical Challenges: Lessons for Insurance Executives
The recent outage of the Sui network due to a congestion control bug serves as a reminder of the importance of resilience in the face of technical challenges. As insurance executives, you understand the importance of being prepared for unexpected events that can disrupt operations and cause financial losses. The Sui engineering team’s response to the outage provides valuable lessons for insurance builders on how to respond to similar situations.
The root cause of the outage was a congestion control system bug in Sui, built in recent updates in the TotalGasBudgetWithCap mode. The congestion control mechanism is one of the fundamental aspects of Sui’s architecture, allowing the system to properly distribute the transaction load and control it by preventing a large number of transactions per second from writing to a single object. However, the new system created a new vulnerability that caused validators to freeze and stall the whole network.
The outage affected all the functions of the SUI ecosystem, as transaction processing and all validators stopped. The Sui engineering team was alerted by notifications from the network, as well as the report received from the community that forced action. The team traced the delay-based problem to the congestion control bug and solved the issue once diagnosed by releasing a simple code correction.
To get back to operations, the engineering team deployed a new code update for the Mainnet and Testnet. The fix was released in versions 1.37.4 of Mainnet and 1.38.1 of Testnet. Validators reacted promptly, and the network could be activated in a mere 15 minutes after the fix’s release. According to the Sui team, a large portion of the outage time was dedicated to waiting for the release binaries to build and deploy. That called for the optimization of the network workflows to provide fixes during some critical incidents faster.
Despite the technical issues and the temporary disruption of the network’s activities, SUI, the token native to the Sui network, has proven rather stable. The token remained within its recent range as it was trading at $3.55 at press time. That represented a 0.88% daily rise. Fluctuating at $10.11 billion, SUI maintained a strong 24-hour trading volume of $1.88 billion at the time of writing.
As insurance executives, you understand the importance of being prepared for unexpected events that can disrupt operations and cause financial losses. The Sui network outage serves as a reminder of the importance of resilience in the face of technical challenges. With Riskwolf, you can turn real-time data into insurance. Using unique real-time data and dynamic risk modeling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast. Contact us today to learn more.
Source: The Coin Republic