• Ethereum (ETH) has been the leading smart contract blockchain and is currently facing a new “Bots and Sandwich Attack”.
• So-called “Ethereum killers” have made unexpected progress in their attempt to outperform Ethereum, but it still hasn’t happened yet.
• Recently, sandwich bots have been grabbing newly issued meme tokens, such as Pepe (PEPE) and Chad (CHAD). This has caused an increase in transaction costs and congestion on the network.
Ethereum (ETH) emerged to offer smart-contract functionalities that the Bitcoin network could not support. Following that, Ethereum’s competitors rose to provide alternatives to its lingering problems, but they have not yet succeeded. Despite this competition, Ethereum has experienced a wave of massive adoption and continues to be the top smart contract blockchain due to its advantages.
Sandwich Attack On Ethereum
Recently, there was a lot of bot activity taking place on the Ethereum network. A type of front-running attack known as a “Sandwich Attack” is used by MEV (miner extractable value) bots to surround a target trade with two other trades to profit from the price discrepancy. According to data from EigenPhi, MEV bots on Ethereum set a new record over the past month, profiting $1.035 million through 11,640 transactions. Now, Sandwich bots are grabbing newly issued meme tokens such as Pepe (PEPE) and Chad (CHAD), which led prices for these currencies skyrocketing 10,000%.
Increased Transaction Costs And Congestion
The increased transaction costs and congestion brought on by MEV bots and sandwich attacks are slowing down the overall effectiveness of the network as well as user experience may suffer on Ethereum’s Network.
Competitors Of ETH
Due to worthwhile trade-offs offered by its competitors like Solana (SOL), Cardano (ADA), Polkadot(DOT). These projects haven’t been able to beat Etheruem despite their novel ideas yet.
Despite posing some challenges due to Sandwich attack & increased transaction cost & congestion lowered user experience , Etheruem still remains dominant due its advantages & lack of success from competitors like Solana(SOL),Cardano(ADA),Polkadot(DOT).