Key Takeaways:
- Mike Tyson tweets about Solana again.
- Fans have different views to share.
- Solana’s instability may pose it as a high risk.
- Continous DDoS attacks are feared.
Boxing legend Mike Tyson, aka “Iron Mike”, tweeted last week that he is “All in on Solana”. He is now curious if there will be a spike in price and wants his fan’s opinion.
Solana has been prey to several attacks, and its recent DDoS (denial-of-service) attack has surfaced on the internet. This incident has led to its instability regarding its price. At writing, SOL was trading at $141.82 with over 4.71% in weekly gains. This hike has come after a 15-week low seen on January 10. However, it should be noted that Solana was among the top five cryptocurrencies by market cap in the last quarter of 2021.
On January 15, Mike tweeted, “How high do you think Sol will go?” and his fans have mixed opinions to share. Some fans are not pleased with his advocacy; some think he is trying to “pump” the project because of his investments, whereas others consider SOL overpriced.
Even though Solana is the fastest blockchain out there with others nowhere around its transaction speed; it is too far from being decentralised. Moreover, if we go through its past, Solana has suffered a DDoS attack almost every other week. Referring to a Twitter thread by Justin Bons, the DDoS attack on 10th December 2021 exploited the fundamental design flaws which compromise decentralisation and security for speed.
Moreover, it should have been evident for creators of Solana why their predecessors didn’t take PoH as a preferred path. non-deterministic block creation adds to security and censorship resistance as you cannot predict who will create the next block. However, in SoL it is possible to predict and then attack the next block creator inline.
It surely does provide speed to SoL, but the attack can happen even after the speed, and this is the reason SOLs entire security is reduced.
