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Cryptocurrency community members had to postpone their participation in the AVA Labs Avalance (AVAX) token sale. Originally scheduled for a July 8 launch, the sale had to be postponed a week later due to a “highly-sophisticated DDOS attack” and “record-breaking demand.”
The AVA Labs Avalanche (AVAX) token sale was scheduled this week, according to Bitcoin.com. However, the launch encountered significant issues according to Hacking Distributed founder and Cornell professor, Emin Gün Sirer, who also initiated the AVA Labs team in 2018.
“Well, that’s not how we were hoping this would go,” Gün Sirer posted on Twitter. “The AVAX sale saw record-breaking demand. Unfortunately, a coordinated and highly-sophisticated DDOS attack derailed Tokensoft’s systems that were handling the sale.”
While his team successfully tested the system in the past, it wasn’t able to withstand the sophisticated attack on the launch date. “Systems that have succeeded many times in past sales failed today under the weight of demand coupled with attacks,” the Cornell professor explained.
With their system down, the team had no choice but to move the token sale next week. “We’re preparing for the rescheduled AVAX sale for 10 a.m. ET next Wednesday, when we will bring an end to the wait for tokens,” Gün Sirer added. “We’re very appreciative of our community’s patience and support.”
The change was already reflected in AVA Labs’ web portal. “The token sale will run from July 15, 2020, at 10:00 a.m. ET (UTC – 4) until July 29, 2020, at 10:00 a.m. ET,” a notice on the website says. The site announced that the minimum required amount to participate in the Avalanche (AVAX) token sale is $100.
Registration for the token sale, which was previously done via the URL buy.avax.network, is closed at the moment. Interested buyers will until July 15 for the registration to reopen.
Emin Gün Sirer initiated the AVA Labs in 2018. The team believes Avalanche to be the next-generation blockchain with its technical superiority.
“Avalanche is the first next-generation blockchain using Proof-of-Stake (PoS) to deliver at the scale (decentralized finance) defi demands,” AVA Labs said. “Enabled by the most advanced consensus technology, the Avalanche protocol, Avalanche achieves high-throughput in excess of 4500 TPS, fast finality at less than 3 seconds, and all with unprecedented decentralization.”
