The Solana network was hit by a fresh DDoS attack that took the network down, the use of Solana’s novel blockchain technology is thought to be the reason for the weaknesses leading to the rising number of DDoS attacks.
Solana (SOL), the fifth-largest cryptocurrency by market capitalization and one of the best-performing in 2021, has apparently been hit by another distributed denial-of-service (DDoS) attack.
A DDoS attack delivers repeated requests to the targeted web resource in order to overwhelm the platform’s capacity to handle multiple requests… and prevent it from working properly.
The Solana network is said to have gone down yet again, marking the third such event in the last six months. The outage began earlier this morning, and the network was restored about 7 a.m. (UTC+8) and is currently operational.
It was fixed after 7 o’clock (UTC+8) and returned to normal.
— Wu Blockchain (@WuBlockchain) January 4, 2022
The escalating number of DDoS attacks on the SOL network is thought to be the result of weaknesses in the network’s blockchain. SOL employs a novel blockchain technology that is not commonly utilized and may not perform as intended, according to a Grayscale security study dated December 2021.
The encryption underlying the network may have weaknesses, including faults that undermine the SOL Network’s functionality or make it subject to attack.
Solana’s 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 Solana’s core team has downplayed the attacks, the community believes Solana needs to address the basic issues. Despite small ups and downs, the 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 presently trading at $167, representing a 3% drop in the last 24 hours.
The present price decline in Solana is due to the overall negative market, and the DDoS attack appears to have had minimal influence up to this point.
