Solana (SOL), the fifth largest cryptocurrency by market capitalization and one of the biggest gains in 2021, is reported to have faced another distributed service (DDoS) attack.
A DDoS attack typically sends multiple applications to the attacked web resource – to override the platform’s ability to process multiple applications … and prevent the platform from functioning properly.
Solana’s network is said to have gone down again, the third such incident in six months. The downtime started earlier in the morning and the network came back around 8 am and is currently operating normally.
It was fixed after 7 o’clock (UTC + 8) and came back to normal.
– Wu Blockchain (@WuBlockchain) January 4, 2022
It is believed that the increasing number of DDoS attacks on a SOL network is due to fundamental flaws in its blockchain. Grayscale security report from December 2021 revealed that SOL uses new blockchain technology that is not widely used, and may not work as intended. There may be faults in the underlying cryptography of the network, including faults that interfere with the functionality of the SOL network or make the network vulnerable to attack.
Can Solana overcome technical flaws?
Solana’s network was initially down for over 24 hours, and even after multiple attempts to fix it, the developers finally had to restart it. While Solana’s core team played down these attacks, the public believes that Solana must work on the core faults. The altcoin had a great 2021, but a potential DDoS attack earlier in the year again showed that the network is still vulnerable.
SOL reached a new full-time high of $ 260 in November this year and is currently down 35% from the peak. The altcoin is currently trading at $ 167 with a 3% decrease over the last 24 hours. The current downward trend in the price of Solana is due to an overall bearish market and the DDoS attack seems to have had little impact so far.