Transaction spam attack against ethereum, what to do now?
A transaction spam attack that repeatedly called the EXTCODESIZE opcode (see trace sample here), thereby creating blocks that take up to ~20-60 seconds to validate due to the ~50,000 disk fetches needed to process the transaction. The result of this was a ~2-3x reduction in the rate of block creation while the attack was taking place; there was NO consensus failure (ie. network fork) and neither the network nor any client at any point fully halted.
The short-term fix is for users, including miners, enterprise users (including exchanges) and individuals to run geth with the flags:
–cache 1024 –targetgaslimit 1500000 –gasprice 20000000000
Or Parity with the flags:
–cache-size-db 1024 –gas-floor-target 1500000 –gasprice 20000000000 –gas-cap 1500000