Cardano network has recently faced a distributed denial-of-service (DDoS) attack, which is a malicious attempt to disrupt its operations. However, Cardano’s mechanism and decentralized structure effectively mitigated the attack, ensuring uninterrupted stability and operation.
This resilience has earned praises from bullish investors, rekindling confidence in the price appreciation prospects of Cardano’s native token ADA.
DDoS attacks trigger bullying sentiments
Industry expert Jaromir Tesar emphasized that most services, including SundaeSwap processing numerous orders, continued to operate effectively during the attack.
The attackers generated transaction fees, causing financial losses without significant disruption. According to Tesar, this incident demonstrated Cardano’s ability to resist and thwart malicious activities, making it a winner in terms of network resilience.
In a deep analysis of Cardano’s security, Tesar highlighted the complexity of executing DDoS attacks on the network compared to traditional client-server networks.
Cardano’s distributed structure includes many nodes, each with its own memory pool, making simultaneous attacks on multiple nodes challenging. Unlike centralized systems where attacks are limited to a targeted number of servers, Cardano’s design distributes network load across its nodes, making it more resilient.
In Cardano’s ecosystem, every block-producing node maintains a mem pool, serving as a waiting room for transactions before they are included in a block. Transactions are processed on a first-come, first-served basis, propagated through relay nodes and diffused to other block-producing nodes.
Finally, Tesar pointed out in his analysis that Cardano’s demand-driven protocol allows nodes to manage their data rate, concurrency, and volume, preventing overwhelming resource consumption. This protocol protects both parties involved in transaction transmission and reduces the risk of resource consumption attacks.
Is it Cardano season?
Dan Gambardello, founder of Crypto Capital Venture, emphasized that Cardano’s top-notch security measures and decentralized design are key reasons for his optimistic sentiment.
The ongoing attack demonstrates Cardano’s ability to handle such situations as planned. Interestingly, the attackers’ funds, exposed during this process, are now being used to fund Cardano’s development, enhancing the network’s resilience.
Gambardello noted that as the “Cardano season” begins, with increasing expectations and excitement about the network, the recent DDoS attack proved the strength and reliability of the Cardano ecosystem.
Gambardello concluded that its security measures, decentralized architecture, rapid response from developers and users, and the exposure of attacker funds have heightened the optimistic sentiment surrounding Cardano’s prospects.
ADA price analysis
After experiencing a significant adjustment that led to ADA’s price plummeting to a yearly low of $0.356 over the weekend, the cryptocurrency has recovered to the level of $0.392.
Currently, the company is focused on overcoming the resistance at $0.400, with expectations of a potential price increase to bridge the gap between its current value and the yearly high of $0.811 reached in March.
Technical analyst Ali Martinez recently identified a buy signal on the daily chart for ADA, adding a positive aspect to ADA’s price outlook, as indicated by the TD Sequential indicator. This signal forecasts a rebound in the altcoin’s price.
Nevertheless, successfully surpassing the current resistance at $0.400 and continuing to recover from losses over the past few months is crucial. The next significant resistance on the daily chart is at $0.439.
Whether the network’s development and the general market recovery can elevate ADA’s price to previous levels and initiate a new upward trend, surpassing the milestone of $1, remains to be seen.
A one-dimensional chart shows ADA’s downward price trend over the past few months.
