The blockchain of Ethereum has previously suffered some congestion in the flow of their transactions, events that have collapsed their network in other opportunities. This phenomenon occurs due to scalability problems of the platform and the increasing movement generated in the platform by the diverse decentralized applications that are connected to its blockchain. A panorama that has collapsed Ethereum today.
Bittrex, one of the largest cryptocurrency markets in the world - only being overtaken by Binance and Bithumb - announced to all of its customers through its Twitter account that it will suspend asset deposits in the Ethereum network until further notice. to the increase in Gas prices, fuel used to drive applications in Ethereum.
The exchange office would have found that a large number of network transactions had not yet been confirmed, as well as that the transaction fees had increased to 1 dollar per shipment from one address to another, according to data from ETH Gas Station. An excessively expensive rate:
— Bittrex (@BittrexExchange) January 6, 2018
Due to incredibly high gas prices, we're preventing new ETH and asset deposit addresses from being created. Existing deposit addresses will work as normal.
Due to the incredibly high gas prices, we are preventing new ETH deposit and asset directions from being created. The existing deposit addresses will work normally, "said the merchant platform. The user community considers that this suspension of service by Bittrex could last a long period of time, since there are still many transactions that are waiting to be confirmed.
According to the graphs shown by Etherscan, Ethereum would currently be traded 1.2 million daily transactions. These numbers confirm the immense flow of data processed by this blockchain due to the large number of large-scale decentralized applications used by its networks, according to press sources.
This is not the first time that the Ethereum network is congested due to the flow of transactions of some app. The famous Cryptocurrency would have produced at its peak of popularity a 15% take of transactions across the network.
The developers of Bankex, a platform that will be built on top of Ethereum in order to decongest the network, would have explained that decentralized applications had become one of Ethereum's biggest problems:
While it is harmless to the naked eye, the project has become a problem for the Ethereum ecosystem. Cryptocurrencys are multiplied, bought, sold, rented to breed. In other words, they are involved in millions of transactions, occupying the largest volume of Ethereum traffic (20%). This causes many transactions that had previously delayed seconds, currently take 10 minutes or fail completely.
Bankex
Likewise, during the most intense period of the Initial Currency Offers (ICO), many of these financing initiatives would have managed to knock down the functioning of the Ethereum platform, a situation that would have become one of the largest in that time. problematic for the developers of this network.
Many enthusiasts of Ethereum believe that one of the main failures of the community are the few projects that have been developed to solve the problem of constant congestion. However, this does not mean that both the Ethereum community and developers of this initiative have begun to work on the issue of scalability in order to achieve a consensus proposal as soon as possible.
Repost,Follow and Upvote!
https://steemit.com/@heisenbergg/