- Solana blockchain has undergone such an incident for the third time in a few months.
- According to the latest incident, it happened less than a month after the attack, and most of the experts said that it could be due to the initial DEX offering on solar-based exchange platform Radium, which is also decentralized.
- One user stated that it is one of the reasons why people should choose their status page to jump to conclusions, especially if it is a mask to the decentralized blockchain.
Solana blockchain has undergone such an incident for the third time in a few months. According to recent news, 16 nodes wen offline for about four hours on Jan 4. So even though they show that there have been no issues in the status, the performance has been hampered for sure. That means most of the transactions have failed, and the network was clogged, raising a concern whether another DDOS attack caused it or it is just another case of a network issue. According to the latest incident, it happened less than a month after the attack, and most of the experts said that it could be due to the initial DEX offering on solar-based exchange platform Radium, which is also decentralized.
Wu Blockchain says that the Solana network went off for about 4 hours in Jan. 4. Also, the users of the telegram community said that an attacker was using spam to conduct an attack. But there has been no news from Solana itself because the status showed that the network was fully functional up to 100% uptime. But there were numerous cases of failed transactions, so the users were pretty concerned about that.
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Several screenshots of Solana (SOL) users reporting issues with unsuccessful SOL transactions around the time of the alleged DDoS and network unavailability were also uploaded on the r/CryptoCurrency community on Reddit yesterday. In addition, Coinbase also released an incident report detailing the Solana network’s “degraded performance” during the previous 24 hours, which attempted SOL withdrawals on the crypto exchange.
One user stated that it is one of the reasons why people should choose their status page to jump to conclusions, especially if it is a mask to the decentralized blockchain. Then Solana and other platforms like this would not be able to glorify its database.
But some other users are stating contradictory comments and questioning the validity of the claims. They ask Solana to show the charts instead of relying on public opinion. They believe that the attack and the downtime will be shown in the chart, and people will get to know the truth.
On Twitter earlier today, Solana Labs co-founder Yakovenko supported this sentiment, saying that the network troubles weren’t caused by a DDoS and were simply the “pain of getting a new runtime marketed.” Yakovenko also remarked that the “cost model for computation is still a [bit] wacky, real remedy to deal with this is in 1.9, when TXs have to identify all the resources they consume up front” in a separate Twitter conversation.
Austin Federa, head of communications at Solana Labs, told Cointelegraph on Dec. 22 that developers are presently working to address the network’s shortcomings, particularly concerning enhancing transaction metering.
“The Solana runtime is a brand-new concept. It doesn’t employ EVM [Ethereum Virtual Machine], and a lot of innovation was done to ensure that customers pay the least amount of money feasible, but the runtime still needs improvement,” he stated.
Is Solana capable of overcoming the technical flaws?
The Solana network was down for more than 24 hours at first, and despite several attempts to fix it, the developers had to restart it. While the core team of Solana has downplayed the attacks, the majority of the community believes Solana needs to address the basic issues. Despite small ups and downs, altcoin had a fantastic year in 2021, but a potential DDoS attempt at the start of the year demonstrated that the network is still susceptible.
SOL hit a new all-time high of $260 in November of this year and is now down 35% from that peak. The altcoin is currently trading at $167, representing a 3% drop in the last 24 hours. The recent price decline in Solana is due to the overall negative market, and the DDoS attack seems to have had nominal influence up to this point.