Coinbase warns that its platform could collapse again in the future



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  Brian Armstrong Coinbase Anthony Harvey / Getty Images for
TechCrunch

  • Coinbase, the cryptocurrency trading platform,
    experienced an interruption on Thursday as bitcoin soared to $ 3,000
    in less than three hours on your platform.
  • The company's CEO, Brian Armstrong, said on Friday that the company
    expect more interruptions during periods of
    high volumes.

Coinbase is taking an "honesty is the best policy"
focus.

The CEO of the company, Brian Armstrong, warned users of the
cryptocurrency trading platform that future interruptions in its application
and the mobile site could occur during periods of high negotiation
volume.

"W e wanted to remind customers that they have access to Coinbase
services may degrade or be unavailable during times of
volatility or significant volume, "Armstrong wrote in
a median publication on Friday
. "This could result in the inability to
buy or sell for periods of time. "

The price of bitcoin
rose by $ 3,000 on its GDAX exchange platform on Thursday to
$ 19,500 in less than three hours during a wild trading session.
Customers experienced a degraded service during this period and
could not log in to your accounts. This is not the first time
Coinbase has experienced problems during periods of high volume.
When bitcoin soared more than $ 11,000 per coin in November, Coinbase
experienced a "partial system cut", during which
time many users found themselves blocked from their
accounts

Exchanges of cryptocurrencies, which do not have the
infrastructure of traditional exchanges like New York
Stock Exchange or the Nasdaq are under pressure to manage a record
negotiation volumes. As such, they are building their
infrastructure and hiring more developers. Here is Armstrong in
Coinbase Expansion:

"Over the course of this year we have invested
resources to increase commercial capacity in our platform and
maintain availability of our service. We have increased the size
from our support team by 640% and launched
telephone support
in September. We have also invested a lot in
our infrastructure and has increased the number of transactions
we are processing during peak hours by more than 40x. "

In spite of the problems, Coinbase jumped to the first position
in the list of most downloaded free apps from the Apple App Store in
Thursday
. But just like the price of Bitcoin, the App Store graphics can
be volatile, and fell to no. 2 points on Friday.

As for bitcoin, it was trading at $ 14,944 on Friday morning
late.

Get the latest Bitcoin price here. >>

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