Kraken: CEO apologizes for Reddit

Who does not know the error 502 or 504 has never traded on Kraken. And the list of errors that can be encountered is long. Kraken is obviously aware of these problems on his exchange. On November 20th, Kraken CEO JessePowell apologized to Reddit for the problems encountered on the site.

Kraken is a victim of his success

In recent times, kraken has been targeted by a wave of attacks from all sides. We also noticed that a certain number of users were expressing their discontent on the social networks and it was for us justified in view of the inability of the site to manage its growing traffic. The advantage of this is that now, the crypto community has been able to deepen their knowledge about errors 502 and 504:

502: Bad gateway
504: Gateway timeout
Kraken justified himself by explaining that they were victims of their success. Coinbase, for example, has registered more than 100,000 users in 24 hours. In just a short time, Kraken has become one of the Top 10 global exchanges with the largest trading volume in BTC / EUR. A volume of $ 250,000,000 is exchanged daily on the platform.

This problem of the increasing number of users is not unlike an innovation offered by cryptocurrencies. If today Kraken is confronted with all these problems related in particular to a network overload, it is because the exchange is centralized. Would this problem exist if the exchange was decentralized?

Kraken will not leave the ship and recruits

It seems surprising that a platform brewing so much money is blaming because of a high number of customers. With a volume of $ 250,000,000 and a commission of 0.25%, it is $ 625,000 cashed every day. It is true that commissions are degressive, but it gives an idea of ​​the perceived money on trade. But Kraken reassures us, they do not intend to abandon the platform:

"We have certainly not abandoned the exchange and we want to make improvements. We had a good track record for the construction of our new ship, which was destroyed by the recent explosion in the number of users. Rather than being able to devote our efforts to the new platform, we had to divide our efforts to extinguish the fire with buckets of water. "

Kraken seems so on the spot. In this regard, the marketplace recruits. There are currently about twenty ads on the site. The majority concerns customer service - to respond to users who are victims of the platform? - and the service compliance, those that allow you to access the Holy Grail of the third 4.