Solana forced its way into the top 5 cryptos, offering one of the most functional blockchain technologies that provides an alternative to Ethereum’s decentralized finance (DeFi) solutions.
As Solana’s popularity grew, so did the number of users who were actively seeking an escape from Ethereum’s absurd gas fees. Unfortunately, Solana has been unable to efficiently manage its exploding ecosystem in 2021.
The Ethereum Killer is Killing Itself
Solana has fallen victim to a second DDoS attack. In such an attack, hackers often employ a botnet to send multiple requests to the target’s IP address, causing an overload and resulting in the denial of its service to users.
On Thursday, December 9th, users of the Solana Network began to complain of clogging and tokens taking too long to be distributed on the network – an unnatural phenomenon in the reputably high-speed blockchain network.
The Solana Network, famous for processing over 2,000 transactions per second, was seen stumbling along at speeds below 500 transactions per second on Thursday. However, the network remained online while users continued to struggle through transactions.
Solana’s troubles can be traced back to its Solana 1.6.25 Mainnet Upgrade. Before a DDoS attack shut down the Solana Network for 17 hours between September 14th and 15th, the network had been experiencing similar issues.
On the Flipside
- Despite recurring network issues, Solana (SOL) remains one of the best performing cryptos of 2021, having gained 1,000% in value year-to-date.
The year-to-date price chart for Solana (SOL). Source: Tradingview
Why You Should Care
The Solana Foundation needs to proffer a solution to such recurring network issues, or it risks stunting the growth of its ecosystem.
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