Recently, Coinbase temporarily halted EOS token withdrawals and deposits, citing concerns about the performance of the EOS Network, which is based on Block.one’s EOSIO software.
Descriptions of a “degraded” EOS Network performance are not accurate. The EOS Network transfers and confirmation times are operating as normal. Working closely with Coinbase, we have identified scalability issues with the integration between the EOSIO software and their required tools that monitor all economic activity of supported digital assets.
Because the EOS Network is performing an increasingly large number of transactions daily, Coinbase’s integration with the EOSIO software requires an update in order to keep pace with the velocity of the EOS Network transactions. Block.one expects to release an update to the EOSIO software that will allow Coinbase to simplify their integration and better service their requirements to monitor all economic activity of supported digital assets. This update is scheduled to be released in the coming weeks, and in the meantime, Block.one and Coinbase are working together to optimize the configuration and performance of the existing integration solutions.
We appreciate the support from the community during this period.
Block.one is a global software company specializing in high performance blockchain software. In 2018, it published EOSIO, a free, open-source protocol designed to bring speed, scalability, and ease of use to the secure and transparent fundamentals of distributed databases. Block.one’s social platform Voice aims to redefine social media by cultivating creation, sharing, discovery and promotion of content by real users. Block.one’s venture capital arm, EOS VC, invests in companies, projects, and developers around the world leveraging EOSIO technology.
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