Technical work on the Binance exchange dragged on due to problems in synchronizing the database
One of the largest and fastest growing cryptocurrency exchanges, Binance, has been inaccessible for several hours due to technical work carried out on the site..
Initially, information about a short-term system update appeared on the company’s blog and Twitter, and it was only about a possible decrease in the site’s performance, and not about a complete cessation of access to it. This message misled traders, because by the time of its publication they could no longer perform any operations..
2 hours after the start of work, Binance wrote on its blog: “Due to the significant increase in the number of users and trading activity, Binance will have to extend the system update time. The work should be completed by 2PM (UTC) (approx. – 17:00 Moscow time) “.
Later he contacted the platform users personally Binance CEO Changpeng Zhao, recently included in the Forbes list of the richest people in the crypto space. According to him, the exchange had difficulties copying data, which requires resynchronization of the database from the main node. Due to the size of the database, synchronization may take several hours. He also clarified that in the process no data was lost..
At around 8:00 AM UTC, Zhao posted another message warning that the database synchronization could take another 10 hours. Due to the prolonged update, Binance will give traders half an hour to cancel their orders before trading resumes.
While the Binance exchange is under maintenance, the Hong Kong trading platform OKEx, once owned by one of the largest exchanges in China, OKCoin, became the first in terms of daily trading volume..
Recall that in January, technical work on the Kraken exchange, which was supposed to last several hours, dragged on for almost three days..
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