New Delhi [India], August 6 (ANI/ATK): On Wednesday 3rd of August 2022, it was revealed that Solana (SOL) was facing a massive issue of security after a hack drained 8000 users of over £5 Million in cryptocurrency.
This hack was not done directly against the Solana (SOL) blockchain, but against the third-party add-on Slope Wallet, with which Solana (SOL) users could connect their crypto wallets for a simplified crypto experience.
By targeting Slope Wallet, hackers were able to gain access to the wallets connected through this service, putting the cause of the hack solely on the security of Slope Wallet rather than Solana (SOL).
However, for crypto users, this hack not only highlights some of the flaws and dangers of crypto investment but puts doubt on the legitimacy of smaller projects built on top of existing blockchains or protocols.
In this article, we will look at Solana (SOL) and why it remains safe despite some press reportings, and why small projects like RoboApe (RBA) should not be dismissed amidst the current climate.
Solana (SOL) Safety, Put Simply
Solana (SOL) is one of the most successful blockchain projects in today's cryptocurrency market, thanks to its many unique features which have given the blockchain massive appeal.
One of the biggest appeals of Solana (SOL) is its speed, times, and energy consumption, all of which beat out most other industry-leading blockchains. Average transaction costs are just a fraction of a cent on the Solana (SOL) network, with the blockchain able to process around 2,860 transactions per second.
Is Solana (SOL) Safe?
As mentioned, despite the hack having solely affected Solana (SOL) wallet holders, the fault of the hack does not lie with Solana (SOL).
The Slope Wallet system is a Solana (SOL) wallet and asset management browser extension, which allows users to buy and sell currency as well as connect to decentralised applications (dApps) across the Solana (SOL) network. By connecting their wallets to this third-party Solana (SOL) browser extension, these wallets became vulnerable, which allowed the hack to occur.
The Solana (SOL) blockchain itself is incredibly safe. This is something Solana (SOL) prides itself on, as it can provide this security whilst also being quick and affordable in its transactions.
Therefore, there is no reason to worry regarding the safety of Solana (SOL) itself. It is, however, a good reminder to be cautious when engaging with projects and products and to do your own research regarding their services.
RoboApe (RBA)- The Newest Meme Token Project With Big Potential
While it is understandable to be cautious of newer or smaller projects in the wake of the Slope Wallet hack, there are still many projects on the market worthy of speculation.
One such project is RoboApe (RBA), which is set to bring legitimacy and wide usage to its meme token ecosystem.
Built on the Ethereum (ETH) blockchain, RoboApe (RBA) is a deflationary meme token with a purpose: to build an expansive, diverse community unified under a single token with utility in a huge range of DeFi services.
From eSports competitions to SWAPs, RoboApe (RBA) is a platform where all crypto users can connect, with the many usage cases for cryptocurrency being unified under the RBA token. This connectivity is what will allow the token to grow and rise in value, as with an active economy
RoboApe (RBA) intends to stay fresh for returning users by routinely updating and adding to its library of services. These developments will include free releases of DeFi games and apps, smart contract development for a host of processes, and routine improvement on the RoboApe (RBA) platform as a whole.
The platform will also nurture a thriving community and valuable coin through its DAO, where RBA token holders will be able to vote and decide on the future of the platform.
In terms of safety, RoboApe (RBA) has made certain that users can feel secure with their funds.
Firstly, by building on Ethereum (ETH), RoboApe (RBA) is backed by a wide, heavily fortified system. There is a reason that Ethereum (ETH) has made it to the place it has in the crypto market,
Secondly, for those worried about the legitimacy of the project, they can rest assured, as RoboApe (RBA) has a locked liquidity pool from which they have valued their tokens. This means that the project is not one built on smoke, but has been created legitimately, with its many goals and aspirations being far from vapourware.
With all this in mind, it is no surprise why some are eagerly anticipating RoboApe's (RBA) release. Make sure you don't miss out!
For more information on Solana (SOL) and RoboApe (RBA), check out this article.
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