The EIDOS token airdrop is reportedly the main reason for the congested state The EOS blockchain currently experiencing, as revealed by Coinbase on November 9.
Specifically, Coinbase disclosed that it is experiencing a few problems with finalizing transactions conducted by the users, which was mainly caused by the EIDOS token airdrop, which led to the congested state of the EOS network.
Coinbase has come up with a solution for the matter, by bringing up the sum of staked CPU, consequently an amount of time of the CPU on the network required to carry out all pending deals.
As a side effect, the congestion also shot up the price of CPU time on the network, surpassing the 100,000% benchmark only within 4 hours. The price is currently nearing the 7.69 EOS/millisecond benchmark.
Coinbase revealed that EIDOS – a new token issued on the EOS blockchain back on October 31st – with its airdrop includes sending its smart contract transactions on the blockchain.
Any client currently in possession of a relatively low amount of staked CPU resources, will not be able to carry out transactions for the time being. Coinbase claimed that this is a temporary state, and will function normally when it no longer can earn profits from token collecting, or when the CPU leases reached the end of their 30-day expiration period, and lenders do not review for new ones.