Binance CEO Changpeng Zhao has presented a detailed report on the problems that affected the exchange last week. According to it, the large number of users, which is constantly increasing, overloaded the system when Bitcoin reached $10,000:
"The difference between BTC at $10,000 this time around and the previous times is, there are a lot more users now. While this is a solid sign of strong recovery for the crypto market, it also puts on significant load for our systems."
Zhao has highlighted the main problems that have been affecting the exchange over the past few days. For instance, the user interface has been showing messages such as "Too many requests", "5xx internal error" and API timeout errors. These messages are reportedly related to a very quick overload of the middle layer service, which was worsen by repeated user requests. Zhao reported that a short-term solution has already been implemented by increasing the resource levels, while the platform plans to implement a more durable solution in the coming days.
In addition, users may experience market data/order/balance update delays. Zhao explained that one of their message brokers, which usually processes around 2.5 GB of data per second, has cut its bandwidth by 100x, which is one of the causes of the exchange's problems. Zhao also said:
"If you feel you were unfairly affected by the issues that recently occurred on Binance.com, please submit a support ticket in as much detail as possible and the team will review it ASAP."
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