Solana, the fifth-largest cryptocurrency by market capitalization, is main on-chain growth charts regardless of a current 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 Dec. 13, 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 Dec. 9 that slowed down the community significantly. The fifth-largest blockchain managed to mitigate the issues and not using a community shutdown, but it surely raised severe issues over community vulnerability.
A DDoS assault refers to a coordinated botnet focused exercise that overwhelms a community with faux site visitors. Many consultants blamed the coordinated DDoS assault on basic 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’s not extensively used, and should not perform as meant. 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 problem when a sudden surge in transaction quantity led to a network outage that lasted nearly 17-hours. The engineers on the time did not resolve the difficulty and validators needed to ultimately restart the community.
The Solana blockchain has emerged as one of many fastest-growing good contract networks in 2021 and a rising selection for upcoming decentralized finance and nonfungible token tasks. The venture’s rising reputation has usually drawn comparisons with Ethereum and has been dubbed the “Ethereum-killer” by some. Nonetheless, rising issues over the basics of the community might show problematic in the long term.
Solana was eyeing a brand new all-time excessive above $200 earlier than the DDoS assault however slumped to a weekly low of $164.15. SOL is at present trading at $165.20 with a 1.3% decline over the previous 24 hours, based on CoinGecko.