This Is How Bitcoin Exchanges Will Be Affected By The DDOS Attacks – Crypto Daily

The threat of DDoS attacks is a big worry for cryptocurrency exchanges, especially for Bitcoin, who has seen its price proceed to soar, recently hitting a fresh high of $12,000. More and more people are attempting to get their forearms on this lucrative cryptocurrency whilst the price is so good, which has waterput an awful lotsbestemming of strain on both the exchanges and the servers.

They are doing everything they can to meet the growing needs of all of their customers, spil well spil doing their best to keep the hackers out of the exchanges, whose aim is to cripple the services that they suggest, and find other ways to steal Bitcoin. The most common and feared attack is a DDoS attack.

To waterput it simply, a DDoS is a distributed denial of service attack, which means that it is a cyber attack that looks to disrupt the service. It is normally done by flooding the server with too many requests that they simply cannot treat. They use numerous sources te order to attack the server, which can make them difficult to zekering.

Ter reality, the timing of this threat could not be worse. This is because Bitcoin has seen the fattest request for the currency, which has caused havoc on exchanges all across the world. Systems were upgraded te an attempt to treat the enlargened traffic, which wasgoed caused by frantic trading and fresh users, spil Bitcoin wasgoed approaching the $11,000 milestone. During this time, two exchanges also had to overeenkomst with cyber attacks.

One of thesis exchanges wasgoed Bitfinex, which had scheduled a server maintenance, and were then kasstuk by a DDoS attack at the same time. This attack is still ongoing. It wasgoed also reported that Bittrex had also detected a DDoS attack on their system spil well. They have since confirmed this and apologised for any inconvenience that it caused.

To a certain extent, thesis attacks should, and can be expected. Banking systems, online shopping platforms and other services are usual targets of such attacks and toebijten often, normally at a time where most harm can be caused.

Back ter late October, Bitcoin Gold wasgoed succesnummer by a big DDoS attack, which produced overheen Ten million requests every minute which rendered their webpagina fully inaccessible.

May spotted another attack also, this time on Poloniex exchange. Users were outraged that they could not trade their virtual currency. The attack wasgoed unsuccessful, and no assets were stolen, but regardless of this, it still caused a loterijlot of scare and disruption.

The response to preventing thesis attacks could be Blockchain Technology, by renting out bandwidth, which will increase the capacity to overeenkomst with a larger amount of traffic to the webpagina.

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