Solana — whose native crypto, SOL, is the fifth-largest cryptocurrency by market capitalization — is main on-chain growth charts regardless of a latest distributed denial-of-service (DDoS) assault.
As per Santiment knowledge, Solana surpassed the every day GitHub submission charges of Polkadot and Cardano to change into the main blockchain over the previous month. The variety of every 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 development activity for Solana comes in the wake of a recent DDoS attack on Thursday that slowed down the network considerably. The fifth-largest blockchain managed to mitigate the issues with out a community shutdown, nevertheless it raised severe issues over community vulnerability.
A DDoS assault refers to a coordinated botnet-targeted exercise that overwhelms a community with pretend visitors. Many specialists blamed the coordinated DDoS assault on elementary 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 expertise that isn’t broadly used, and should 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 situation when a sudden surge in transaction quantity led to a network outage that lasted nearly 17 hours. The engineers on the time didn’t resolve the problem, and validators needed to ultimately restart the community.
The Solana blockchain has emerged as one of many fastest-growing sensible contract networks in 2021 and is a rising selection for upcoming decentralized finance and nonfungible token tasks. The undertaking’s rising reputation has usually drawn comparisons with Ethereum and has been dubbed the “Ethereum killer” by some. Nevertheless, rising issues over the basics of the community might 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 at the moment trading at $165.20 with a 1.3% decline over the previous 24 hours, in response to CoinGecko.