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Cardano DDoS Attack: Network Stability Reassures Community Ahead of Chang Hard Fork

Published June 26, 2024 8:45 AM
Teuta Franjkovic
Published June 26, 2024 8:45 AM

Key Takeaways

  • Cardano’s blockchain successfully withstood a DDoS attack.
  • The attack was thwarted, and the attacker lost funds.
  • Cardano’s ADA, experienced a 7% price surge following the news of the attack, reaching a high of $0.3968.

Late Tuesday, the Cardano blockchain faced a distributed denial of service (DDoS) attack intended to steal tokens staked on the network.

Despite the attempt, the attack was effectively thwarted  with no damage incurred, allowing the network to continue its operations uninterrupted.

Cardano Successfully Mitigates DDoS Attack, Reveals Hacker’s Strategy

A DDoS attack involves overwhelming a server or blockchain with excessive traffic, thereby disrupting user access to online services and sites.

Fluid Token’s chief technology officer mentioned  on X that the attack commenced at block 10,487,530, with each transaction executing 194 smart contracts. The attacker used 0.9 ADA per transaction and filled each block with multiple transactions to stress the network.

Cardano Network Unfazed by DDoS Attack, ADA Price Climbs 7%

Dan Gambardello, Founder of Crypto Capital, pointed out  that Cardano continued to function normally despite the attack. This resilience is due to the network’s decentralized nature, which distributes the load, preventing a single point of failure. Although such decentralization is a common feature in blockchain networks, Cardano recently demonstrated its effectiveness against such attacks.

Philip Disarro, founder of Cardano development firm Anastasia, suggested  that the DDoS could be stopped by deregistering the attacker’s stake credential. The attack ceased shortly after Disarro’s advice. He noted that the attacker halted the assault to protect their funds, but it was too late as the funds were already being seized.

Despite the ongoing attack, Cardano has experienced no chain halt or congestion. Surprisingly, the price of ADA , the network’s native token, has surged by 7% to $0.3964 at the time this was announced. Over the past 24 hours, ADA’s price has climbed to a high of $0.3968.

Cardano Withstands DDoS Onslaught, Prepares for Chang Upgrade

Cardano is experiencing a unique evolution within its ecosystem, making significant disruptions costly. Founder Charles Hoskinson mentioned that the Chang hard fork is on schedule to launch by the end of the month.

Although Hoskinson has not provided a recent update, the community remains hopeful. If the network had failed to manage the DDoS attack, it could have raised concerns about the planned upgrades later in the year.

The Chang hard fork marks Cardano’s transition into a self-governing protocol. Having successfully weathered this attack, proponents are confident that the network is prepared for this significant advancement.

Cardano, despite its strong technology, struggles with mainstream awareness compared to rival blockchains. This issue is often attributed to inadequate marketing, with a recent survey  showing a majority of respondents viewing Cardano’s marketing efforts as inferior.

The success of “Cardano Girls”  suggests a potential solution: engaging a wider audience through relatable and creative strategies. While focusing on fundamentals is important, solely relying on this approach might alienate potential users who are attracted to emerging trends and less technical aspects.

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