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- EOS is a protocol centered around blockchain technology, which is powered by its native cryptocurrency called EOS.
- Coinbase is having degraded performance of the EOS network, and EOS sends are temporarily disabled completely, and EOS receives may get delayed.
- Block.one, which is the parent company of EOSIO software, cited its concern over the performance of its EOS network.
Coinbase X Block.one
EOS is a protocol centered around blockchain technology, which is powered by its native cryptocurrency called EOS. The protocol emulates most of the components of a real computer, which includes CPUs and GPUs for processing, hard-disk storage, and RAM with the computing resources distributed equally or decentralized among EOS cryptocurrency holders.
Recently, Coinbase a global platform that enables users to buy sell, transfer, and store digital assets such as cryptocurrencies based on the US. It is the most popular platform by many to purchase cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH) announced that it is having issues with withdrawals and sending digital currencies using EOS.
Coinbase also made a tweet regarding the issue
The EOS network is currently experiencing degraded performance levels. EOS sends have been temporarily disabled and receives may be delayed. Buys and sells of EOS within Coinbase are functioning normally. We’ll keep you posted as service returns to normal. https://t.co/p91KykCnsE
— Coinbase Support (@CoinbaseSupport) February 21, 2020
the tweet was about the announcement of Coinbase is having degraded performance of the EOS network, and EOS sends are temporarily disabled completely, EOS receives, on the other hand, may be delayed. The tweet assured that the buying and selling of EOS are functioning normally within Coinbase, and it will update customers when the status jumps back to normal.
Block. One’s Fitting Reply to Coinbase
Finally, today Block.one, which is the parent company of EOSIO software, cited its concern over the performance of its EOS network.
According to EOS, the Coinbase’s description of “degraded performance of EOS network” is not accurate as the EOS Network transfers are operating normally as usual.
Block.one has assured customers that it is working closely with Coinbase ventures, and it found that the problem is identified is a scalability issue. With the integration between EOSIO software and their required tools that monitors and examines all economic activity of the enlisted supported digital assets.
It also appreciated the community that extended their hand to Coinbase for support during this period, and it is working together with Coinbase to optimize the configuration and performance of the existing integration solutions.
