DDoS Attack Hits Solana Network 3rd Time In A Row! Will Theis Impact Its Growth in 2022!
The Solana ecosystem has been receiving a major backlash from the crypto fraternity for its failure in properly handling network-related bugs. However, the platform was hit by a major DDoS (Distributed denial-of-service) attack earlier this day as it has failed to handle multiple requests to prevent a network from the attack. The fifth-largest cryptocurrency by market cap has reported a DDoS attack for the third consecutive time over the past six months.
Why is SOL Vulnerable To Any Attacks?
The platform has experienced downtime earlier this day and the platform has managed to quickly troubleshoot the network congestion. Grayscale building blocks have recently been covered the same, pointing out potential risks of network security.
The report has clearly mentioned that the SOL ecosystem works on a Proof-of-History consensus mechanism which is not widely accepted. Further, it may not function as intended. Also, it has shed light on the defects in the cryptography underlying the platform, including bugs that adversely impact the functionality of the web or make it weak to attack.
Although the project has gained groundbreaking profits in 2021, a DDoS attack at the commencement of the mega year damaged its reputation. A great beginning is half done, in converse, the year might turn out completely challenging for the platform if it fails to resolve the bug completely.
However, the Solana ecosystem is thriving hard to fix the prevailing fundamental flaws. The On-chain development activity is on the rise after it has faced a major DDoS attack in December. A crypto metric platform Santiment reveals that SOL’s developer activity has been on the rise. Hence, as the development is in progress the platform would soon resolve all the existing glitches to boost the price action.
Collectively, a recent DDoS attack on the SOL price has plummeted the price by over 3% in the last 24 hours. Especially when the platform experienced the attack for the first time in September, the price experienced a heavy fall from $220 to $140. Although the other two didn’t impact the price, it is a threat to the overall ecosystem growth.Source