Vitalik Buterin estimates the cost of a spam-attack on the Ethereum network at $15 million - Hitecher
Vitalik Buterin estimates the cost of a spam-attack on the Ethereum network at $15 million

Vitalik Buterin estimates the cost of a spam-attack on the Ethereum network at $15 million

by Evan Mcbride

The Ethereum network has recently increased the cost of computing. Critics say the problem is...

The Ethereum network has recently increased the cost of computing. Critics say the problem is in the poor scalability of the platform. The increased load directly affects the transaction fees. In addition, imperfect algorithms that determine the price for the internal measuring of computations – gas.

Similar problems made it possible to spam-attack Ethereum , the largest of which occurred in June. The number of transactions per day decreased almost three-fold while the price of gas increased.

The founder of Ethereum, Vitalik Buterin, believes that the cost of such an attack is about $15 million.

Buterin stressed that an adherent of a free economy can not be upset because of the use of the blockchain platform by anyone else at their discretion, although the amount of the cost of the attack is impressive.

Users noted that the network was overloaded due to transfers between the smart contract IFishYunYu and the address on the FCoin crypto-exchange. During the day, commission fees for transactions to this address amounted to almost 50 ETH.

Suspicious airdrops of random tokens on the EOS platform led developers to believe that they were linked to the spam-attack. The leading developer at EOS, Dan Larimer, immediately rejected these charges and said that that the blockchain game “CryptoKitties” overloads the Ethereum network much more.

The co-founder of Ethereum, Joseph Lubin, recently said that the network will begin its next phase of development soon. The main task of the development team will be to improve the infrastructure. At the same time, the price of the cryptocurrency will continue to be formed according to market forces and will not be influenced by the project team.

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