With the crypto space experiencing some form of shutdowns and blackout since its’ inception and acceptability, Solana have been the recent victim to this. The network is said to have been spammed after receiving over 400,000 transactions per second on its system just days after experiencing it’s all time high.
After going offline for an estimated 17 hours, the network (SOL), have claimed that the reason for the outage which it encountered has been as result of a Denial of service(DOS) attack which was targeted at its initial DEX Offering, on the 14th of September.
According to the Solana foundation post on its blog today, it has been reported that there was a Bot spam act on its network after they kick started the Initial DEX Offering (IDO) on its Decentralised system.
After experiencing 400,000 per second transactions on its network, SOL has stated that the rapid growth and heavy demand of its token had caused the foundation to demand for more forks to be carried out by its network.
Recovering from an Unnew kind of attack in the crypto space which led to it shutting down as a result of memory loss and the network running out of ideas on the nights of this event, the system was said to have been restored back to live after its engineers and just over a thousand validators helped in bringing it back to life.
With the token said to have gotten to an all time high market value of $50 billion dollars after it was said to have been valued at just $3 dollars around last year September. This token is currently ranked 7th on the marker cap after overtaking Dogecoin with its all time highs figure attained.
“We have upgraded, restored, refixed and put things in place properly this time around after the attack on our network,” – statement made by the foundation in its blog.
