The recently-launched good contract platform Manta Community suffered a distributed denial-of-service (DDoS) assault on January 18th, the identical day its governance token MANTA started publicly buying and selling.
The incident triggered community congestion and delayed transactions, however did not considerably dampen enthusiasm for the privacy-focused blockchain protocol.
TLDR
- Manta Community suffered a DDoS assault on January 18th, the identical day its governance token MANTA started buying and selling
- The assault triggered community congestion and delays, however funds are reportedly safe
- MANTA value nonetheless climbed 25% post-launch to rapidly attain a $550 million market cap
- Manta makes use of zero-knowledge proofs for personal DeFi and NFT transactions on Ethereum and Polkadot
- Previous to launch, Manta’s layer-2 community noticed practically $1 billion in ETH deposits, partly fueled by airdrop rewards
Manta goals to deliver zero-knowledge proofs to decentralized finance and NFTs for hid on-chain actions. Its modular structure operates throughout each Ethereum as a layer-2 community and the Polkadot ecosystem. Robust curiosity in Manta’s incentive packages previous to launch helped appeal to near $1 billion price of ETH deposits.
DDoS Assault Replace on @MantaNetwork
Hey everybody, we’re experiencing a calculated DDoS assault on the community. This occurred at 9:30AM UTC, precisely the identical time as our TGE occasion. Since that point, now we have seen over 135m requests hit the RPC nodes, which signifies that this can be a… pic.twitter.com/EgjUiOvRl0— ????Kenny.manta ???????? (????,????) (@superanonymousk) January 18, 2024
The flood of sudden transactions from the DDoS assault overwhelmed Manta’s nodes with over 135 million requests. Builders acknowledged the problems in an replace, noting that funds remained safe regardless of the pressure on community communication. Work swiftly commenced to resolve the congestion and stabilize providers.
Remarkably, investor urge for food for Manta’s newly-minted MANTA governance token continued surging regardless of the incident. The token value climbed 25% within the first day of buying and selling, propelling Manta’s market capitalization above $550 million. The sturdy debut suggests confidence within the staff’s potential to scale privacy-preserving transactions.
Manta makes use of refined zero-knowledge proofs known as zkSNARKs to validate transactions with out exposing delicate person particulars. Its protocol helps personal swaps, loans, NFT minting and different DeFi actions throughout chains. The launch opens up personal web3 providers to a wider viewers by way of improvements in trusted execution environments.
Whereas the DDoS assault offered an early problem, investor enthusiasm in MANTA highlights the demand for privacy-enhancing options as blockchain adoption advances. Quite than scaring customers away, the incident underscored the urgent want for resilience towards threats in an more and more high-value and high-profile ecosystem.
For Manta Community, the profitable token debut helps set the stage for real-world adoption regardless of the tried disruption. As innovators additional decentralized finance, personal platforms like Manta’s may emerge as havens for transactions that customers want to maintain hid from public scrutiny.
