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Yesterday, the market was raging with speculations of Solana facing yet another distributed denial-of-service (DDoS) attack. However, earlier today it was clarified that the network went down in lieu of “some congestion due to mis metered transitions, and some users experienced their txs timing out and had to retry.” As the time taken to process transactions went up, the transaction rate also saw a hike on the network. Nevertheless, the glitch has been fixed as of now.
Solana responded that it was not due to DDOS attacks and went down recently, because "some congestion due to mis metered transitions, and some users experienced their txs timing out and had to retry." https://t.co/ArRapGIHHT
— Wu Blockchain (@WuBlockchain) January 5, 2022
DDoS attacks highlight the fundamentally flawed blockchain
The faux DDoS attack would have been Solana’s third in six month’s duration. The network went down early in the morning yesterday, and was back up at around 7 o’clock (UTC+8) after the developers had to eventually restart it post several failed attempts to fix it. According to CoinGape’s reportage on speculations of a DDoS attack on Solana network, it was noted that a rise in DDoS attacks could potentially mean a fundamentally flawed blockchain.
Last year, during the month of December, a Grayscale security report mentioned that Solana works with a new blockchain technology that is not widely used, and may not function as intended. The report claimed that there is a possibility of underlying cryptography flaws, including flaws that affect the functionality of the SOL Network or make the network vulnerable to attack.
DDoS attacks have little to no effect on SOL prices
Despite consecutive downtimes levying to different reasons, Solana has come out as one of the top Alt-coins available in the market as of now. The coin ranked at no.5 on CoinMarketCap and has earned its credibility as one of the biggest gainers of 2021. At press time, SOL was trading at $170 with a 1.24 percent hike in the last 24 hours and a market cap of over $52 billion.
Even with a slightly upward trend, SOL price continues to be much lower than its all-time high of $260 in November 2021. Nevertheless, this downward sloping graph could easily be levied as the domino effect of the overall bearish market instead of accusing Solana’s reportedly flawed blockchain and the DDoS attacks.
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