Nano’s Universal Block Canary Release Causes Glitches on Binance

Nano releases Universal Block Canary

The creator of the Nano cryptocurrency, Colin LeMahieu, has announced the release of the Nano Universal Block Canary on Twitter, May 22nd. Yet since the time of the announcement, some users on Twitter have complained of technical glitches on Binance, the most prominent cryptocurrency exchange in the world.

Colin LeMahieu tweeted the following:

Nano is a divergent cryptocurrency that attempts to solve the ecosystem’s most prevalent issues. Unlike the “Big Four” coins of bitcoin, Ethereum, Bitcoin Cash and Ripple, Nano offers instant transactions, zero fees, and claims to be “infinitely scalable.” These features make it a hot pick for cryptocurrency investors, as it currently trading at USD 5.36, up from 4.80 prior to the announcement.

Nano was launched in 2015, and was previously known as Railblocks. The cryptocurrency runs on its own blockchain, NANO. The Universal block Chain Canary is an update to allow the blockchain to achieve its goals of infinite scalability and instant transaction, achieved by consolidating its pre-existing block types into one.

On Reddit, user elementalemmental explained why the update matters:

Despite the hype and positivity of the announcement, certain users have claimed they’ve experienced issues making transactions on Binance. Complaints of not receiving their NANO balance and frozen deposits were common. These issues were speculated by some to be caused by the Canary update, although the cryptocurrency has reportedly been experiencing problems months ago.

One Reddit user, SuperShwa commented the following:

While another user, winklestimpy, held a more positive outlook:

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide