1. PixelPlaygroundHome
  2. Web3 News

Delayed ALGO Transactions Reported on Coinbase Assets

• Web3 News • 175 views

It is reported that Coinbase Assets disclosed on social media that the ALGO sending and receiving were delayed from March 6, 2023 due to changes in Algorand\’s …

Delayed ALGO Transactions Reported on Coinbase Assets

It is reported that Coinbase Assets disclosed on social media that the ALGO sending and receiving were delayed from March 6, 2023 due to changes in Algorand’s application program interface (API). Due to the backlog of related transactions, the new ALGO token transfer may be cancelled at a higher interest rate. Coinbase said that the user’s funds are safe and is currently working to solve the related delay problems as soon as possible.

Coinbase: ALGO sending and receiving has been delayed since March 6, and the problem is still being handled

Analysis based on this information:


Coinbase Assets recently disclosed on social media that ALGO sending and receiving operations had been delayed due to changes in Algorand’s application programming interface (API). The changes in the API have caused a backlog of related transactions, which has resulted in the postponement of new ALGO token transfers. The delay in the ALGO transactions was reportedly set to take effect from March 6, 2023.

According to Coinbase Assets, the new ALGO token transfer may be canceled at a higher interest rate due to the delay that has resulted from the backlog of related transactions. A higher interest rate typically indicates that users will be required to pay more fees for the transaction to be completed.

Coinbase Assets stated to its users that their funds were safe despite the delay in the ALGO transactions. The cryptocurrency exchange explained that it was working on solving the related delay problems as soon as possible. This action from Coinbase Assets was to assure its users that it was in control of the situation, and their funds were secured.

The primary cause of the delay in the ALGO transactions was due to changes in Algorand’s API. An API is an application programming interface, which is the intermediary software that allows different applications to communicate with each other. The changes in the API affected the process of receiving and sending of ALGOs and led to a backlog of related transactions.

The delay in the ALGO transactions was a setback for Coinbase Assets as it may have affected its users’ trust and confidence in the platform. However, Coinbase Assets handled the situation by informing its users of the delay and the reasons behind it. The cryptocurrency exchange also reassured its users that their funds were safe, and it was working on resolving the related delay problems as soon as possible.

In summary, Coinbase Assets reported a delay in ALGO transactions that was caused by changes in Algorand’s API. The delay may have resulted in higher interest rates for canceled transactions. However, Coinbase Assets assured its users that their funds were safe and that it was working to resolve the related delay problems as soon as possible.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/9098/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/08/2023 07:26
Next 03/08/2023 07:48

Recommended articles