The EOS blockchain is congested via the EIDOS token airdrop, cryptocurrency exchange Coinbase reviews on Nov. 9.
In a put up on its weblog, Coinbase claims that it had problem in processing its customers’ transactions due to EOS network congestion due to the EIDOS token airdrop. The alternate has on the grounds that solved the issue through growing the amount of staked CPU, securing a enough portion of the CPU time final on the network to process its transactions.
apparently, the incident also induced the price of CPU time at the community to boom via over a hundred,000% over the course of four hours. The CPU time charge reached almost 7.sixty nine EOS/millisecond.
The cause of the EOS congestion
according to Coinbase, a token known as EIDOS become released on EOS on Oct. 31 and its airdrop entails sending transactions on the community from the token’s clever settlement.
Exchanges have indexed EIDOS/USDT pairs on Nov. 1 to allow humans that received the tokens to sell them for the stablecoin.
with a view to promote the tokens, users have leased the community’s CPU time to growth the quantity of transfers processed by using the blockchain. This, in turn, prompted the EOS network to go into congestion mode and restrict the number of transactions customers can broadcast to their pro-rata share of overall staked CPU assets on the blockchain.
The activity related to the token is answerable for a extraordinary part of general interest on the network:
“presently, we’re gazing round 95% of all EOS transfer moves are related to the EIDOS contract.”
EOS network behaving as predicted
average customers, who preserve a highly low quantity of staked CPU sources, are currently unable to ship transactions. That being said, the trade additionally notes that this case is best brief. Coinbase expects the community to return to its normal nation as soon as it’s far no longer worthwhile to accumulate the tokens or the CPU leases expire after 30 days and the creditors do no longer renew the hire. Coinbase also factors out:
“it is critical to word that the EOS protocol is behaving as anticipated, but congestion mode prevents users from having transactions processed that exceed their CPU stake.”
As Cointelegraph stated at the stop of October, EOS holds the top spot in China’s state-sponsored crypto rankings, even as Bitcoin (BTC) is ranked eleventh.