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The Sui Foundation revealed a collaboration with Franklin Templeton Digital Assets on November 22 aimed at fostering blockchain innovation and strengthening its ecosystem.
A press release distributed to Cryptonews.com indicated that Franklin Templeton has been actively investing in the Sui ecosystem. This partnership is centered on generating opportunities for developers to create solutions utilizing the Sui blockchain protocol.
Strategic Partnership with Franklin Templeton
Franklin Templeton Digital Assets has previously participated in the Sui ecosystem by endorsing blockchain technologies and operating node validators. The firm’s engagement has included utilizing data analysis and industry knowledge to inform its development strategies.
HOLY SHIT!!!
$SUI JUST PARTNERED WITH $1.7 TRILLION FRANKLIN TEMPLETON!!!
pic.twitter.com/tDXCHhEPml
— Kyle Chassé / DD
(@kyle_chasse) November 22, 2024
pic.twitter.com/tDXCHhEPmlThe statement noted that the ecosystem has drawn a variety of projects, including DeepBook, which aims to operate as a decentralized central limit order book for DeFi applications.
The release emphasized the combination of Franklin Templeton’s asset management expertise with Sui’s blockchain framework. This partnership is anticipated to assist developers in launching decentralized applications across multiple sectors, such as finance and technology.
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“Sui was initially inspired by some of the issues Franklin Templeton Digital Assets is addressing, particularly those present in decentralized finance today,” stated Sui Head of Ecosystem Development Jameel Khalfan.
“For the last decade, blockchain technology has garnered attention from both technologists and economists, yet often encounters technical challenges. We are eager to see what the Sui team is developing,” remarked Franklin Templeton Director of Digital Asset Management Tony Pecore.
Sui Network Experiences Significant Crash
The Sui Network faced its first significant outage yesterday due to a flaw in its recently updated congestion control code. The update was meant to enhance shared object utilization but instead led to a disruption that halted block production for over an hour.
Earlier today, Sui encountered its first network outage due to a bug in congestion control code, which had been recently upgraded to improve shared object utilization.
Sui contributors swiftly implemented a fix, restoring normal network activity in 2.5 hours. The rapid,…— Sui (@SuiNetwork) November 21, 2024
An official statement indicated that the network outage was resolved within three hours through a coordinated effort involving contributors and validator operators. The team identified and applied a fix, reinstating normal activity across the blockchain.
The post Sui Partners with Franklin Templeton for Blockchain Development appeared first on Cryptonews.
