NEO (NEO), a blockchain platform for smart contracts often referred to as the Ethereum of China, revealed Saturday that its network was “attacked” with a number of meaningless transactions that can be considered malicious.
About recent "malicious" transactions in NEO network…https://t.co/9oYWXwoK5Z
— NEO Smart Economy (@NEO_Blockchain) July 30, 2018
In the announcement, the NEO team provides a brief description of the attack without providing any specific details.
Recently, the number of transactions on the NEO network has increased significantly. Some of them are meaningless and could be considered as an attack.
To address the current and future network loads, the NEO team recommends sending transactions with a fee. This is due to two safety parameters built into NEO’s protocol designed to limit these type of attacks. These parameters include ‘MaxFreeTransactionsPerBlock’ (set to 20), which limits the number of transactions which are sent without a fee to only 20 in a single block, and ‘MaxTransactionsPerBlock’ (set to 500), which protects NEO from an infinite number of transactions flooding the network.
Interestingly, the attack was perhaps enough to initially affect interoperability with the NEO blockchain, as Ontology (ONT) reported issues with NEP-5 ONT balances and token swap functionalities this morning. It is unconfirmed if the issues are related and neither team has released any additional information at this time.
Note: Due to a problem with a NEO node, ONTO can't currently interact with the NEO blockchain. This affects in-app NEP-5 ONT balance and the token swap function. We are currently changing node and will notify users once it has been resolved. Thanks for your patience. $ONT
— Ontology (@OntologyNetwork) July 30, 2018
The NEO team is now encouraging exchanges to add a transaction fee when a user withdraws NEO tokens from the exchange and all wallet clients to add the ability for a user to set the transaction fee.
Related: Here’s What We Know About NEO 3.0
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.