The Cardano network recently faced a distributed denial of service (DDoS) attack, a malicious attempt to disrupt its operations. However, Cardano’s decentralized mechanisms and structure effectively mitigated the attack, ensuring uninterrupted stability and functioning.
This show of resilience received praise from bullish investors and renewed confidence in the price appreciation prospects of Cardano’s native token, ADA.
DDoS attack drives bullish sentiment
Jaromir Tesar, sector expert, highlighted that most services, including SundaeSwap, which processed many orders, continued to operate effectively during the attack.
The attacker incurred transaction fees resulting in financial losses without causing significant disruption. According to Tesar, this incident demonstrates Cardano’s ability to resist and prevent malicious activities, establishing it as a winner in terms of network resilience.
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In an in-depth analysis of Cardano’s security, Tesar highlights the complexity of executing a DDoS attack on the network when compared to traditional client-server networks.
Cardano distributed structure includes multiple nodes, each with its own memory pool, making simultaneous attacks on multiple nodes challenging. Unlike centralized systems, where attacks are directed at a limited number of servers, Cardano’s design distributes the network load across its nodes, making it much more resilient.
Within the Cardano ecosystem, each block producing node maintains a mem-pool, which serves as a waiting room for transactions before they are included in a block. Transactions are processed on a first-come, first-served basis, passing through relay nodes and spreading to other block-producing nodes.
Lastly, Tesar noted in his analysis that Cardano’s demand-driven protocol allows nodes to manage their data rate, concurrency and data volume, thus avoiding the overwhelming consumption of resources. This protocol protects both parties involved in transaction transfers, mitigating the risk of resource consumption attacks.
Cardano season starts?
Dan Gambardello, founder of Crypto Capital Venture, highlighted Cardano’s top-notch security measures and decentralized design as main reasons for its optimistic feeling.
The continuous attack showed Cardano’s ability to handle such situations as intended. Interestingly, the attacker’s funds were exposed in the process and are now essentially being used to finance the development of Cardano, strengthening the network’s resilience.
As the “Cardano season” begins, Gambardello said, with anticipation and excitement surrounding the network’s growth, the recent DDoS attack serves as a testament to the strength and reliability of the Cardano ecosystem.
Its security measures, decentralized architecture, quick response from developers and users, and exposure of attackers’ funds added to the bullish sentiment Regarding Cardano’s prospects, concluded Gambardello.
ADA Price Analysis
After experiencing a sharp correction that saw the ADA price fall to a yearly low of $0.356 over the weekend, the cryptocurrency recovered the $0.392 level.
Currently, the aim is to overcome the $0.400 resistance, waiting for a potential price increase to fill the gap between its current value and the yearly high of $0.811 reached in March.
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Adding to the positive outlook for ADA price, technical analyst Ali Martinez recently identified a buy signal on the daily chart of ADA, indicated by the TD Sequential indicator. This signal anticipates a recovery in the price of the altcoin.
However, it is crucial that ADA successfully overcomes its current resistance at $0.400 to continue recovering from the losses suffered in recent months. The next significant resistance level on the daily chart is $0.439.
It remains to be seen whether on-chain developments and a general market recovery can push ADA price to previously lost levels and start a new uptrend to surpass the $1 milestone.
Featured image of DALL-E, chart from TradingView.com