Bytecoin HS following an explosion in the number of transactions
After reaching historic highs in terms of value, Bytecoin has suddenly stopped working. It would be a technical problem coming from its blockchain; it is currently impossible to issue transactions with cryptocurrency.
For several months, Bytecoin's team had been quiet about the project. However, Bytecoin (BCN) was preparing its return with a big announcement, unveiled yesterday: the arrival of the NCB on the platform Binance . In one day, the news had attracted an additional $ 1 billion in capitalization. In terms of price, crypto went from $ 0.06 to $ 0.12, an increase of 100% ! However, a network problem stopped the furious advance of the anonymous cryptocurrency, putting a stop to any BCN transaction .
https://twitter.com/cz_binance/status/993905509789937664
This problem has been identified by the community as a congestion problem of Bytecoin blockchain. At its introduction on Binance, the price has exploded upward, touching the 10,000 satoshis, while on Poloniexfor example, the highest reached at the same time was only 200 satoshis. The theory would be that most operators active on the other exchanges would have massively withdrawn their funds to send them on Binance, thus creating an overload on the Bytecoin blockchain and paralyzing the network.
Bytecoin has also explained the situation in a sober announcement . In the words of the team,
"Bytecoin is experiencing an unusually high load [on its network]. The transactions can be delayed, the synchronization of the nodes can be very late. "
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