What is DDoS attack? Impact of DDoS attack in Crypto
What is DDoS? What types of DDoS attacks are there? How Do DDoS Attacks Affect Crypto Markets? Find out now!!!
If one day your website suddenly becomes inaccessible or realizes that there is a huge amount of traffic happening on your own website, it is a sign that you are becoming the subject of a DDOS attack.
The phenomenon of a server or website being attacked by a denial of service (DDOS) attack is inevitable, and especially since there are no specific measures that can effectively handle these attacks.
In today’s article, we will learn what a DDoS attack is and the three basic types of DDoS attacks, as well as how they affect the cryptocurrency market in general.
What is DDoS attack?
DDOS stands for Distributed Denial of Service, which can be understood as distributed denial of service.
In short, a DDoS attack or a denial of service attack is a method used to prevent legitimate users from accessing a network or a web resource.
Usually, this is done by overloading the attack target (usually the web server) with heavy traffic, or by sending malicious requests that cause the target to attack failure or complete server crash.
The first recorded case of a denial of service attack was in February 2000, when a Canadian hacker hacked into the web servers of Amazon and eBay.
Since then, more and more people have used DDoS attacks to target multiple industries.
Basic difference between DoS and DDoS
Another similar term you may come across is a DoS attack, which stands for Denial-of-Service. The difference between DoS and DDoS attack is:
- In a DDoS attack, multiple malicious computers are ordered to attack a single target.
- On the DoS side, the source of the attack comes from a single point.
DDoS attacks are more likely to succeed. Attackers tend to prefer DDoS method because it is difficult to trace the attack to the attack point because it comes from many points.
03 basic types of DDoS attacks
Some types of DDOS attacks aim to prevent a user from accessing a specific network object or resource, while other types of attack aim to make the entire resource completely inaccessible. accessible.
DDoS attacks come in many different forms because not all devices and networks are vulnerable in the same way.
Attackers often need to be creative in attack techniques to be able to exploit vulnerabilities in system configuration.
In summary, we have 3 basic types of DDOS attacks as follows:
- Volume-based attacks: Type of attack that uses high traffic to flood the network bandwidth.
- Protocol attacks: Type of attack that focuses on exploiting server resources.
- Application attacks: Attacks that target web applications and are considered the most sophisticated and severe type of attack.
Among them, Volume-based attacks are the most common type of attack.
This attack relies on sending access requests to the target with more traffic than the original developers built the system to handle, thereby preventing normal users from accessing the websites. there.
How Do DDoS Attacks Affect Cryptocurrency?
The blockchain’s decentralization helps create a strong defense against DDoS and other cyberattacks. Even if some nodes do not communicate or simply go offline, the blockchain can continue to function and validate transactions.
When the interrupted nodes recover and return to work, they will re-synchronize and update the latest data provided by the unaffected nodes.
The defense level of each blockchain against attacks is related to the number of nodes and the hash rate of the network.
As the oldest and largest cryptocurrency, Bitcoin is considered the most secure and flexible blockchain.
This means that DDoS and other cyberattacks are less likely to cause disruption.
Although the blockchain architecture is good for DDoS resistance, in recent years when cryptocurrencies have attracted a lot of attention, crypto-related applications such as CEX exchange, Wallet, etc. have become more and more popular common target for DDoS attacks.
These attacks can last from a few minutes to a few hours, and even in some severe cases can last for days.
They cause a lot of damage to both users & related organizations and especially there is no specific measure that can effectively handle these attacks.
So we have learned what a DDoS attack is & the three basic types of DDoS attacks. If you have other questions related to the above topic, please comment below for idolmeta.net to support right away!