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Binance Respond to its System Overload Following Bitcoin’s Rise

 
Binance Respond to its System Overload Following Bitcoin’s Rise
Exchanges / Breaking News / Bitcoin
  • As the leading cryptocurrency surged, Binance reportedly went through some issues in regards to its functionality.
  • Changpeng Zhao has admitted to having a number of performance issues on the platform. 

As it hits the key resistance level of $10,000, bitcoin looked like it was on the up. Many community members believed that this was the catalyst that was to spark the next bull run up to the bitcoin halving in May this year. However, it has now sunk below the $10,000 mark once more. 

As the leading cryptocurrency surged up to such highs, one of the worlds biggest crypto platforms, Binance reportedly went through some issues in regards to its functionality.

In addressing this, the platform came out with a blog post which clarified what occurred. In the post, the CEO of the platform, Changpeng Zhao admitted to having a number of performance issues on the platform. All of these issues adversely had an impact on the platform’s accessibility.

Even though this issue was resolved quite swiftly, the CEO highlighted that there are limitations to such an approach. He further went on to add:

“Due to the complex nature of this module, it does not auto-scale well. A new instance takes minutes to sync up the initial snapshot to be able to handle normal traffic. Further work was already in progress to address this but didn’t finish before the massive traffic hit us just a few days ago.”

As the platforms attempt to not let the system get overloaded any further, the CEO revealed optimisations on the client-side which have been made.

At the end of last week on the 16th of February, a user on the platform noted that the balances were not correctly being shown. It was also reported that these orders were not being processed properly either. 

Zhao went on to say:

“One of the message brokers sub-components that typically pushes out 2.5GB+ of data per second, suddenly dropped the throughput by 100x, causing messages to be backed up, resulting in the order book as well as user balance update delays.”

For more news on this and other crypto updates, keep it with CryptoDaily!

 

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