- Coinbase has experienced three outages in the last two weeks.
- It is assumed that the application went down because of the high amount of traffic.
Investors are ecstatic about the Bitcoin rise, but the Coinbase exchange’s platform is responding poorly. In the midst of Bitcoin’s new all-time high (ATH), Coinbase has reported yet another downtime. The crypto exchange has experienced three outages in the last two weeks.
The platform collapsed, causing significant disruptions according to Coinbase users. Data from Downdetector indicates that a significant number of issue reports have been filed during the last day.
Subpar Infrastructure and Technologies
According to crypto analyst MartyParty, who has previously brought attention to the twitter outage, the exchange has repeatedly opted to use subpar infrastructure and technologies that are susceptible to large volume failures. In addition, he thinks the technical leadership at Coinbase has consistently made bad decisions. The only solution, according to MartyParty, would be to completely rebuild using technologies that are more scalable.
Due to the extreme demand caused by the recent spike in Bitcoin price, Coinbase had a technical issue two weeks ago. After examining the cause of the error, Coinbase said that it had resolved the issue, but users continued to see a zero balance on their accounts. According to subsequent reports, the disruption caused Bitcoin’s market valuation to plummet by an astounding $100 billion in only fifteen minutes.
It was assumed that the application went down because of the high amount of traffic caused by the sudden increase in the price of Bitcoin. Coinbase said that it was starting to notice improvements in consumer trading after the two-week outage and claimed to be making an attempt to fix the fault. However, due to increasing traffic, certain users may still see login failures, sends, receives, and problems with certain payment methods.
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