Solana — whose native crypto, SOL, is the fifth-largest cryptocurrency by market capitalization — is main on-chain growth charts regardless of a current distributed denial-of-service (DDoS) assault.
As per Santiment knowledge, Solana surpassed the day by day GitHub submission charges of Polkadot and Cardano to grow to be the main blockchain over the previous month. The variety of day by day GitHub submissions for Solana reached 90 between Nov. 12 and Monday, adopted by Polkadot at 76 and Cardano at 65.
The surge in on-chain growth exercise for Solana comes within the wake of a current DDoS assault on Thursday that slowed down the community significantly. The fifth-largest blockchain managed to mitigate the issues without a network shutdown, but it raised serious concerns over network vulnerability.
A DDoS attack refers to a coordinated botnet-targeted activity that overwhelms a network with fake traffic. Many experts blamed the coordinated DDoS attack on fundamental design flaws and Solana’s proof-of-history (PoH) consensus mechanism. Earlier, a Grayscale Funding report additionally flagged Solana’s PoH use and stated:
“The Solana consensus mechanism makes use of a brand new blockchain know-how that isn’t broadly used, and will not operate as supposed. There could also be flaws within the cryptography underlying the community, together with flaws that have an effect on the performance of the Solana Community or make the community susceptible to assault.”
In September, the Solana community confronted an identical concern when a sudden surge in transaction quantity led to a community outage that lasted almost 17 hours. The engineers on the time did not resolve the problem, and validators needed to finally restart the community.
The Solana blockchain has emerged as one of many fastest-growing good contract networks in 2021 and is a rising alternative for upcoming decentralized finance and nonfungible token tasks. The challenge’s rising recognition has typically drawn comparisons with Ethereum and has been dubbed the “Ethereum killer” by some. Nevertheless, rising considerations over the basics of the community may show problematic in the long term.
SOL was eyeing a brand new all-time excessive above $200 earlier than the DDoS assault however slumped to a weekly low of $164.15. It’s presently trading at $165.20 with a 1.3% decline over the previous 24 hours, in response to CoinGecko.
