While many protocols have been hampered by congestion, but improvements have started already to lighten the load and function normally.
Overload on the Binance Smart Chain (BSC) persisted over the past few days, given that users touched by the crypto market crash chain-wide were dismayed with the delayed and rejected transactions as a consequence. The first reported troubles were about 14:00 UTC on December 3rd, according to the website Downdetector.
Due to the overload and congestion, a number of protocols endured latency in their updates and other undertakings. The likes of HeroFi were affected, as well as other new and small crypto projects such as Lucky Block, as all types of protocols endured difficulties.
Twitter users and groups alike expressed their dismay and frustration. Among those that tried to mend the situation was Centric Official that posted the following: “It seems to be a Binance network congestion issue. Please be patient when sending support emails as the queue can sometimes be quite large.”
Moreover, DNAxCAT and HeroFi also pleaded for patience where HeroFi took the opportunity to announce that it extended the upgrade of the system for 2 additional hours:
#DNAxCAT fans, we have received many feedbacks about $SFC withdrawal.
As the withdrawal time is calculated by blocks, the congestion status on binance smart chain will lead to the delay of withdrawal.
Please wait patiently. pic.twitter.com/ijScqtiwKp— DNAxCAT (@DNAxCAT_GAME) November 28, 2021
Since it is the high volume that ultimately caused the overload, there is no reason to be worried just yet.
PancakeSwap made sure to notify all users about the Forbes interview during which Changpeng Zhao, the CEO of Binance elaborated on the upcoming scaling solution of Binance.
Another high volume day today causing network congestion again.
ICYMI, @cz_binance addressed some of @BinanceChain‘s scaling solutions in this article with Forbes. Exciting stuff in the works 👀🐰https://t.co/I0MLJ5aJjk pic.twitter.com/qSMLcbfW1S
— PancakeSwap 🥞 #BSC (@PancakeSwap) December 4, 2021
Binance is developing the capacity to make the Binance Coin (BNB) compliant with multiple blockchains, according to Changpeng Zhao. The Binance CEO posited that this might speed up the entire system. Binance Coin (BNB) appears to have promising prospects, especially with the recent deflationary and burning improvements.
Speaking for Forbes, Changpeng Zhao said that “there are actually teams working on third and fourth blockchains using BNB as a native coin. We could have one coin that’s the native coin of multiple blockchains; technically this can be done.” He went on to say that technically, architecturally they are very different. The Binance Smart Chain is using EVM compatible architecture. I don’t know what they did specifically, but they re-engineered a lot of back end to make it a lot faster.”
While issues such as scalability, overload, and congestions are matters that require solid resolutions in the long run, virtually all chains are working on the same issues, and Binance seems to be ahead in terms of providing sustainable alternatives.
Also read:
BitMart $200 Million Hack Rebound to be Bolstered by Huobi and SHIB Community
Will Binance and Coinbase List Baby Doge Coin?
Changpeng Zhao on Mandatory KYC: How Many Users Binance Has in the Aftermath
