- Cardano faced a DDOS attack but merely slowed down, highlighting its robust, built-in resilience.
- The community assured Cardano’s founder that his attention was not needed, reflecting the decentralised nature of the blockchain.
- Despite the attack, no tokens were stolen, and Cardano’s response team worked effectively to mitigate the risks.
Imagine being hacked and the CEO of the hacked company doesn’t know or care what’s going on! It would be either a poorly run company or maybe not a company at all – at least not in the sense where centralised control can be assumed.
US Securities and Exchange Commission Chair Gary Gensler all too often claims that many blockchains are run by centralised entities; yet, this tweet from Cardano founder Charles Hoskinson suggests otherwise:
So, what happened?
Basically, a hacker tried to attack Cardano via a DDOS attack, but apparently “the chain just slow[ed] down”, as user Clark (@CryptoSchniz) posted on X.
Related: Introducing Blinks: Blockchain Links Arrive on Solana – Here’s Why It Matters
The attack started at Block 10,487,530, where the attacker executed 194 smart contracts per transaction, spending 0.9 ADA each time. They flooded the network by filling each block with numerous such transactions, all involving smart contracts categorised as REWARD type.
DDOS attacks typically aim to overwhelm a network with a flood of traffic to make it inaccessible. However, Cardano’s ability to slow down rather than stop functioning highlights the level of resilience built into its infrastructure.
The Cardano community reacted to Hoskinson’s tongue-in-cheek post by saying his attention wasn’t required — a testament to the decentralised nature of blockchains.
Another user said simply:
Network Experiences ‘Higher Load’, No Attempt to Steal Tokens
Cardano member-based organisation Intersect (@IntersectMBO) said that overall, the situation highlights the challenges faced by decentralised networks like Cardano in maintaining security and efficiency amidst potentially malicious external pressures.
The response from Cardano’s task force and the collaborative effort to improve the network’s defences illustrate a robust approach to managing and mitigating such risks.
And, unlike some early reports, no attempt had been made to steal any tokens. The main aim of the hacker seemed to be to halt the chain, which ultimately failed.
Instead, it looks like the fast-acting developers found a way to drain the developer’s wallet, much to the hacker’s embarrassment.
Polkadot-Cardano Bridge News Spurs Excitement
Meanwhile, Polkadot and Cardano are expected to collaborate through a bridge linking both ecosystems. The news comes after a Polkadot-Ethereum bridge named SnowBridge went live on June 20.
Related: Analysts Forecast $15 Billion in Net Inflows to Ethereum ETFs by 2025
Hoskinson said in a Lex Friedman interview back in 2022 how he valued the Polkadot ecosystem and its approach to careful commercialisation. A Polkadot-Cardano bridge could potentially benefit both ecosystems and drive further growth in the blockchain industry.
Get the most important crypto news delivered to your inbox by subscribing to the CNA newsletter
Credit: Source link
