Chainlink, the decentralised oracle network, simplifies communication by providing data from off-chain sources to on-chain ones. Its continuous activity is required for a functional decentralized ecosystem. Data requests are normal of course as this is Chainlink’s job, but excessive data requests are spam and looking to bring down a network.
700ETH
The attack explained above is exactly what multiple Chainlink nodes experienced. Given the fact that DeFi has been very hot and the Ethereum network fees rocketing through space, Chainlink nodes had to pay even more expensive fees just to remain operational and answer the legit requests. This cost the nodes 700ETH ($335,000 at the time of attack) in order to fulfill their role despite the attack.
Decentralised Finance
This sort of attack is not too far off from a DDoS attack where an attempt to overload a server is taken. The fact that Chainlink was able to overcome it is bullish for the ecosystem and further development of DeFi.
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