On Tuesday (February 25), Brendan Blumer, Co-Founder and CEO of Block.one, (the company that develops the EOSIO protocol that powers the EOS platform), responded to Coinbase's concerns about EOS network's "degraded performance levels."
Here is how it all started...
On February 20, Coinbase said via a system status report that "EOS network has degraded performance" and that it was "investigating this issue".
Then, on February 22, Coinbase Support tweeted about the EOS network's "degraded performance levels", linking to the aforementioned status report:
The EOS network is currently experiencing degraded performance levels. EOS sends have been temporarily disabled and receives may be delayed. Buys and sells of EOS within Coinbase are functioning normally. We’ll keep you posted as service returns to normal. https://t.co/p91KykCnsE— Coinbase Support (@CoinbaseSupport) February 21, 2020
One of the leading EOS block producers, EOS Nation, sent the following reply to Coinbase Support's tweet:
Hi @CoinbaseSupport! Although the network did experience some microforks on the 20th of February, the EOS Mainnet is currently extremely reliable. If you are still experiencing problems, feel free to reach out as we would be happy to help troubleshoot the issues with you. 1/2 pic.twitter.com/4IkwFZLDdw— EOS Nation (@EOS_Nation) February 22, 2020
Earlier today, the Block.one CEO sent a series of tweets to explain that the performance problems being experienced by Coinbase were not because EOS was too slow, but rather the opposite, i.e. that the most likely explanation was that the architecture Coinbase's applications for regulatory reporting needed to be improved to so that these applications could keep up with the speed and volume of EOS transactions:
EOSIO is so scalable at the blockchain level that many applications have a hard time scaling the rest of their infrastructure to keep up. #EOS— Brendan Blumer (@BrendanBlumer) February 25, 2020
Some applications that attempt to track and analyze every transfer of ownership for KYC/AML purposes have a hard time with the speed and volume of #EOS transactions— Brendan Blumer (@BrendanBlumer) February 25, 2020
No, they have custom processes that surveillance every transaction on the #blockchain itself and the sheer amount of #EOS activity is making it hard for them to successfully keep up. The EOS network has no degraded performance issues and no other exchanges have reached out.— Brendan Blumer (@BrendanBlumer) February 25, 2020
He also said that Block.one is trying to help Coinbase with "their performance issues":