Owing to the degraded performance Coinbase experienced with EOS, the digital currency exchange firm announced via Twitter on Saturday that EOS transfers have been suspended until further notice.
Reportedly, it is not the first time Coinbase is experiencing such degraded EOS performance as reports where filed earlier in the week where the exchange firm alerted that EOS activities could be suspended. However, technical issues that lead to the EOS Coinbase suspension was not detailed as it looks like steps are being taken to restore the system.
The EOS Coinbase suspension has not stopped EOS trading on the Coinbase network as currently EOS trading on the system works normally as the suspension only affects sending and receiving EOS to be resolved when investigations are concluded.
EOS Coinbase suspension, crypto’s response
In lieu to the announcement on Twitter that Coinbase suspended EOS, the official handle of EOS Nation reacted to Coinbase tweet. EOS Nation, in their tweet, acknowledged that the degraded performance the exchange firm experienced was true, but then they have restored the system. EOS further offered to help the company to troubleshoot if there is any need for it.
Similarly, in another report, an anonymous Reddit user announced too that he/she found it difficult also to send EOS due to low computing power.
It is assumed afterward that maybe the EOS network has been attacked that congested the system, or certain validators are not doing what ought to be done for certain unknown reasons. However, the assumption has not been officially validated.
The EOS dApps
Regarded as the most powerful infrastructure for decentralized applications, EOS is a blockchain-based, decentralized system that allows creating, hosting, and executing commercial-scale decentralized applications (dApps) on its platform.
The platform doesn’t own any official form as its makers are yet to decide which it would belong too precisely. The crypto allows every necessary function to enable businesses and individuals to create blockchain-based applications in a way that is not different from the web-based applications. It provides secured access and authentication, permissioning, data hosting, usage management, and communication between the dApps and the Internet.
Featured Image by Pixabay
This post was last modified on February 22, 2020 1:31 pm