Fifth largest crypto asset by market capitalization Left (LEFT) reported to be facing another distributed denial of service (DDoS) attack. A DDoS attack usually sends multiple requests to the attacked web resource, resulting in exceeding the platform’s capacity to handle multiple requests and preventing the platform from functioning properly.
The Solana network has been subjected to similar DDoS attacks for the third time in the last six months, and the Solana network has collapsed. The downtime started early this morning and the network was back on at around 7am (UTC+8) and is now operating normally.
It was fixed after 7 o’clock (UTC+8) and returned to normal.
— Wu Blockchain (@WuBlockchain) January 4, 2022
The increasing number of DDoS attacks on the SOL network is believed to be due to fundamental flaws in the blockchain.
A December 2021 Grayscale security report highlighted that SOL uses a new blockchain technology that is not widely used and may not work as intended. LEFT NetworkThere may be flaws in the underlying encryption of the network, including flaws that affect the functionality of the network or make the network vulnerable to attacks.
Can Solana overcome the technical flaws?
The Solana network initially crashed for over 24 hours, and even after multiple attempts at fixes, the developers eventually had to reboot the network.
Although Solana’s core team has ignored these attacks, the community feels that Solana needs to work on the underlying flaws. The altcoin had a phenomenal year despite minor ups and downs, but a possible DDoS attack at the beginning of the year once again highlighted that the network is still vulnerable.
SOL hit an all-time high of $260 in November this year and is currently trading 35% below that level.
The altcoin is currently trading at $167, down 3% in the last 24 hours. The current bearish trend in Solana’s price comes across as a result of the overall bearish market, and the DDoS attack seems to have had little effect so far.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.