Sometimes things are too good to be true. Unfortunately, Solana’s parabolic rally and opportunity to create the “flippening” has been short-lived. According to ongoing reports and community complaints on Twitter, the Solana network has not approved or signed any transaction on the blockchain.
During this outage, the network could not reach consensus, so much so that a restart of the Mainnet Beta cluster was necessary. The problem arose due to bots that targeted Candy Machine, an NFT minting tool on Solana, sending more than 4 million transactions per second. This attack generated traffic spikes in excess of 100 Gbps, blocking the Solana network. This is neither the first time Solana has crashed because it was attacked, nor the first time it has actually been targeted by a DDoS attack. Since the attack exploited a bot on Metaplex Candy Machine, a decision was made to apply a penalty to this bot.
Solana is down again. This a direct demonstration of how & why CoinEx Smart Chain — CSC is built differently. This isn’t a petty ‘my crypto is better than yours’ shade. This occurrence simply reveals a big foundation to my $CET investment thesis…CSC is reliable.
Solana was the second network to strain under notable transaction volume related to NFTs over the weekend. The Ethereum transaction cost surged to an average of over $450 due to a release of 55,000 NFTs by Yuga Labs with some users paying up to 5 Ether ( ETH), or $14000, in gas fees for transactions and much more to mint one of the NFTs.
With Various security threats and expenses in transactions, developers cant effectively run their projects on such blockchains as for obvious reasons, also such set backs overall causes a loss both financially and systematically.
In a recent tweet, it was said “Luna is dead, Luna 2.0 is a scam, Solana doesn’t work, Bitcoin is slow, and Ethereum is expensive. The answer to all problems is CSC $CET” Simply notifying users about CSC
More than ten years have passed since the world witnessed the most popular cryptocurrency, Bitcoin, and the exceptional functionalities with Blockchain. After many years of evolution, there are many blockchain project ideas under development.
Some have already captured the attention of people and industries all over the world. You can find various decentralized applications in the present times for trading and access a wide range of functionalities with the available options.
CoinEx Smart Chain is a highly sophisticated yet so simple and easy to use Blockchain in existence now. The vision of “simplicity and ease of use” reflects a consensus reached by the CoinEx team after a long period of deliberation. Faced with the rapid progress of blockchain over recent years, CoinEx has been considering what values it could create for more users. As we all know, though there are millions of blockchain users, only a small proportion of them fully understand how blockchains are run and profit by adopting the right strategies.
CoinEx Smart Chain (CSC), a public chain within the CoinEx ecosystem, which aims to build a high-performing, decentralized financial ecosystem. CSC strives to enable high-speed growth for its ecosystem through the core value of “simplicity”. For CSC, the key to building brand advantages is to create an easy-to-use underlying protocol and sound bottom-layer infrastructure, provide developers with a comfortable working environment, and offer financial support for outstanding projects. Based on its compatibility with EVM, CSC uses PoS, which is an innovative consensus mechanism, to provide developers with a high-performing platform, allowing them to benefit from such CSC features as high throughput, scalability, security, and low costs.
Many people assume that blockchain technology is the key ingredient that would determine the future of the world of finance. Blockchain project ideas can be extended beyond the world of finance, largely on the basis of blockchain capabilities for cost reduction and limited processing times. At the same time, the transparency benefits associated with blockchain also promote its adoption across various industries. Additionally, big players in the tech industry such as IBM and Amazon have come up with blockchain solutions tailored for direct as well as indirect customers.
The gradually increasing interest in blockchain is one of the reasons for emphasizing blockchain projects in present times. Most important of all, blockchain is open source in nature, and it is possible to find out blockchain projects that fit your organization’s transformation goals.
In addition, many blockchain projects are changing the conventional assumptions about blockchain applications. Rather than just providing platforms for exchanging or mining cryptocurrency, blockchain projects are turning attention towards predictions and information. The future of blockchain and blockchain professionals is so bright.
Simplicity and ease of use lie at the core of CSC’s vision. CSC aims to create a flourishing ecosystem by building a well-performing, secure, stable public chain.
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