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“Solana is the new EOS”, says investor after network suffers new attack

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Solana’s network (SOL) was the victim of yet another attack over the weekend. This time, the attack was confirmed by the network team on Friday (21) and was only resolved two days later.

Meanwhile, the network has spent around 48 hours experiencing more transaction instability, affecting decentralized finance (DeFi) users across the community.

Solana network suffers new attack

Solana’s team said they first noticed the hiccup on Friday, January 21, 2022, around midnight.

“The Mainnet-Beta cluster is experiencing some performance degradation. We are currently investigating the issue,” the team wrote.

The investigation lasted more than 24 hours before the team was able to identify the cause on Saturday (22) at 17:55. However, the solution came only on Sunday (23), when the network received a software update.

Then the SOL team released a brief report explaining the case. According to the document, the network received an “excess of duplicate transactions” made by robots (bots). In other words, these robots were able to overload the network, causing congestion.

This type of attack is known as denial of service (DDoS) and aims to disrupt the functioning of a website or system. It is the second such attack of this network in January.

After identifying the flaw, the team released an update titled V1.8.14, which was designed to “mitigate the worst effects of the issue”. According to the report, several features of the update have already been implemented on the SOL testnet.

“These upcoming releases are intended to improve the health of the network, with more improvements expected in the next eight to 12 weeks. Many of these features are currently live on the testnet, where they are being rigorously tested,” the team added.

The Solana network has experienced several issues in recent months, and this current incident is the second in January. But unlike other occasions, the most recent drop lasted around 48 hours.

“Solana is the new EOS”, says investor

The recent SOL failure has garnered a lot of criticism from developers and investors in the cryptosphere, including criticism of the network’s alleged “ETH Killer” status.

One such investor is Mark Jeffrey, an investor and author at Harper Collins, who compared SOL to the EOS network. For him, SOL lost credibility and left the fight for dominance in the DeFi market.

Another day, another 48 hour #Solana outage. This is like the sixth time this has happened in 3 months. I have zero faith in it now. It is the new EOS. The fight is now between ETH, BSC, Fantom, Avalanche and Terra..” he said.

In fact, SOL came to occupy the third position among the protocols with the highest value allocated in DeFi, but lost three positions according to the DeFi Llama. Now, Fantom, BSC and Avalanche have surpassed SOL, which occupies the sixth position.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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