Solana Announces What Was Really Behind Last Week’s “Frustrating” Outage
Solana Foundation posted a detailed post-mortem explaining what they believe was a denial-of-service attack.
#Altcoin #CRYPTO Crypto billionaire Sam Bankman-Fried calls solana’s 17-hour outage sad and frustrating – and says a stablecoin ban would hurt the industry | Currency News | Financial and Business News https://t.co/f3UL2lYEBN
— BitcoinPress (@bitcoinpressuk) September 20, 2021
Last week Solana suffered an almost 17-hour network outage. According to the Solana Foundation, “The cause of the network stall was, in effect, a denial of service attack.”
Recommended: Check out our detailing of the Solana blackout.
- According to their blog, during Grape protocol’s IDO launch the network became overwhelmed by bots battling for the coin offering.
- The community noticed the problem in real time, and “took steps to help the network recover,” but were ultimately unsuccessful.
- FTX CEO and major Solana investor Sam Bankman-Fried isn’t concerned about Solana’s security moving forward: “If it were to happen again today, it would be fine. I think that that has been patched. It’s always sad when these happen, it’s always frustrating — but I don’t think that it’s particularly a security thing.”
- It appears based on Solana Foundation’s analysis that a malicious attack has been ruled out.
- Solana’s SOL token is down 5% trading in the $138 range.
For more on Solana check out our guide.
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Text source: CryptosRus
