As Ethereum continues to suffer from spam attacks upon the execution of its new Geth release “Come at me Bro,” ShapeShift CEO Erik Voorhees reassures users that it only makes the network stronger.
Amid the transaction spam attack earlier last week, exchanges and wallet platforms experienced various delays in processing ETH deposits and withdrawals.
While users and traders are experiencing delays, Erik Voorhees says that in dealing with spam, the Ethereum development team is building more robust and innovative security measures.
Voorhees says:
“Every time someone attacks a Blockchain platform and fails to kill it, the platform gets stronger, and more worthy of building upon.”
The Ethereum development team as well as its co-founder Vitalik Buterin released a series of statements unravelling short, mid, and long-term fixes to prevent serious spam attacks affecting the network.
On October 3, the Ethereum development team introduced Geth release 1.4.15 called “Come at me Bro” as a solution to recent DoS and transaction spam attacks.
New Geth Release Fails to Prevent Spam Attacks
Despite the efforts of the developers, the new release had a minimal impact on the network, failing to prevent more DoS attacks which began to stall ETH deposits and withdrawals in exchanges including Kraken, Bitfinex, and Shapeshift.
Recent series of transaction spam attacks initiated by an anonymous attacker, are creating over 1000 new smart contracts at a rate of 30 / minute, which exceeds the capacity of the Ethereum network.
Exchanges released statements to their users, warning them of potential delays in trading and settlement of orders.