Binance suspends service for maintenance

Crypto exchange giant Binance suspends service citing database issues
08 February 2018   1080

Just this morning one of the largest crypto exchanges Binance suspended its service for 12 hours to resolve the issues with their server database.

Instantly rumors about another hack started circulating on the net. When worried clients started bombarding support with questing about it, Binance support sent out a tweet about it. They said, that the database cluster was out of sync and had to be resynchronized from the master, which will take some time due to the size of the data. And no trading data will be lost, so it seems.

Following the tweet, Binance support page had a notice posted with details – System Upgrade Extension was the title. Nothing's too bad, it seems. The upgrades and repairs are in progress and are scheduled to end by 2 PM (UTC). Support cites increased user activity and trading volumes as the reason for extending system upgrade time beyond just regular maintenance.

Also, if everything is done ahead of schedule, further notice will be released. If not, then all the trading operations and withdrawals will be suspended until the deadline of 2 PM.

This outage may worry a lot of traders, especially those who suffered because of the recent hack in Japan, but Binance team has assured that everything is under control. Binance is one of the largest crypto exchanges in the world with over $2 billion 24-hour trade volume, so more than everything else their reputation is at stake. Let's hope they don't disappoint.

Binance DEX to Launch Public Test

Community's feedback will help determine the date of the official launch of the new decentralized platform
20 February 2019   97

The largest daily trading volume, Binance cryptocurrency exchange, has launched a public testing of a decentralized trading platform based on its own blockchain

So, users can already create wallets and interact with the Binance DEX interface. At the same time, the exchange introduced the block explorer for Binance Chain.

It is noteworthy that traders in the Binance Chain network can act as nodes and independently store private keys.

Trust Wallet and Ledger hardware wallets have been added to Binance DEX.

Representatives of the exchange said that the feedback from the community will help determine the date of the official launch of the decentralized platform.