Coinbase Says EOS Network Performance is Deteriorating
Coinbase, one of the top US cryptocurrency exchange, has pointed out that the EOS network is facing some problems.
Four days before Coinbase issued a statement saying “EOS network has degraded performance. Sends and receives might be delayed.”
Two days later, the exchange tweeted that external transfer of EOS has been deactivated and performance of the EOS network is deteriorating.
However, the exchange has pointed out that buying and selling of EOS on its trading platform does not face any issues.
EOS Nation, one of the EOS block producers, has responded saying that EOS mainnet can be totally relied upon as it continues to function normally even though there are some problems associated with micro-forks.
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 accompanied a chart indicating a small blip four days ago, with 192 blocks missing due to micro-fork problem.
EOS Nation insists that the mainnet continues to perform normally during the past two weeks.
While the EOS network had block related or performance issues in the past, EOS Nation only highlighted the blip that happened four days before. It can be remembered that EOS network missed an average of 20,000 blocks per day in the final week of January.
Hi @CoinbaseSupport! Although the network did experience some microforks on the 20th of February, the EOS Mainnet is currently extremely reliable. If you are still experiencing problems, feel free to reach out as we would be happy to help troubleshoot the issues with you. 1/2 pic.twitter.com/4IkwFZLDdw
— EOS Nation (@EOS_Nation) February 22, 2020
Notably, in October 2019, a study report by Cointelegraph cautioned that EOS may face congestion attacks causing freezing of the network.
The vulnerability was used by a hacker to loot more than $110,000 worth crypto from an EOS gambling app. Block.one, parent firm of EOS, has also claimed that the network is functioning normally.
Soon after launch, the network faced freezing problems and in the recent past faced network congestion issues due to the EIDOS token airdrop.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.