The EOS blockchain is congested by the EIDOS token airdrop, cryptocurrency exchange Coinbase reports on Nov. 9.
In a post on its blog, Coinbase claims that it had trouble in processing its clients’ transactions due to EOS network congestion caused by the EIDOS token airdrop. The exchange has since solved the issue by increasing the amount of staked CPU, securing a sufficient portion of the CPU time remaining on the network to process its transactions.
Interestingly, the incident also caused the price of CPU time on the network to increase by over 100,000% over the course of 4 hours. The CPU time price reached nearly 7.69 EOS/millisecond.
The cause of the EOS congestion
According to Coinbase, a token called EIDOS was released on EOS on Oct. 31 and its airdrop involves sending transactions on the network from the token’s smart contract.
Exchanges have listed EIDOS/USDT pairs on Nov. 1 to allow people that received the tokens to sell them for the stablecoin. Read More...