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:
Universal block canary has been released! Check your services to see if they’re handling them correctly and let us know of any issues.
— Colin LeMahieu (@ColinLeMahieu) May 20, 2018
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: