Trust Wallet Faces Bitcoin Node Issues Due to Increased Network Transactions

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Trust Wal­let, a lead­ing self-cus­tody and mul­ti-chain wal­let boast­ing over 70 mil­lion users, is expe­ri­enc­ing issues with its Bit­coin nodes.

The height­ened trans­ac­tion vol­ume has report­ed­ly led to insta­bil­i­ty among var­i­ous node providers, caus­ing tech­ni­cal dif­fi­cul­ties for Trust Wal­let users rely­ing on these nodes for their Bit­coin transactions.

Trust Wallet Experiences Bitcoin Node Issues

Accord­ing to the post on X, the pri­ma­ry impact expe­ri­enced by Trust Wal­let users is poten­tial issues relat­ed to the dis­ap­pear­ance of trans­ac­tion his­to­ry with­in the Bit­coin-block book chain, along with instances of failed trans­ac­tions. The post also high­light­ed that Trust Wallet’s plat­form team is active­ly mon­i­tor­ing the sit­u­a­tion and work­ing on imple­ment­ing mea­sures to address and resolve the chal­lenges users face.

The team is active­ly mon­i­tor­ing the sit­u­a­tion. Despite the chal­lenges, the post stat­ed that the com­pa­ny is com­mit­ted to deliv­er­ing prompt and effec­tive solu­tions to ensure the smooth oper­a­tion of its services.

In address­ing the issue, Trust Wal­let reas­sured users that under the cur­rent con­di­tions, they might encounter incom­plete trans­ac­tion his­to­ries for the Bit­coin ledger, with poten­tial dis­rup­tions last­ing up to six hours. The team plans to pro­vide fur­ther updates to keep users informed about the progress and solu­tions being imple­ment­ed to address these tech­ni­cal challenges.

Bitcoin Network Congestion

Bitcoin’s net­work has encoun­tered a notable increase in trans­ac­tion fees due to height­ened com­pe­ti­tion for block space dur­ing a peri­od of ele­vat­ed net­work activ­i­ty this week.

This con­ges­tion was influ­enced by sev­er­al fac­tors, includ­ing a Bit­coin price ral­ly that saw the cryp­tocur­ren­cy reach­ing over $38,500 before sta­bi­liz­ing around $37,000. Addi­tion­al­ly, a resur­gence in Bit­coin Inscrip­tions, par­tic­u­lar­ly the use of ordi­nals allow­ing non-BTC tokens to be inscribed on the blockchain, increased demand for net­work capacity.

Dur­ing net­work con­ges­tion, issues may arise in Bit­coin trans­fers due to the trans­ac­tion load, poten­tial­ly lead­ing to delays in receiv­ing sent BTC. In such sit­u­a­tions, users may need to wait for the trans­ac­tion to be com­plet­ed, test­ing their patience amid adverse conditions.

Mean­while, Alche­my Pay, a promi­nent fiat-cryp­to pay­ment solu­tion provider, has entered a new part­ner­ship with Trust Wal­let. The inte­gra­tion offers users a broad­er range of on and off-ramp solu­tions, con­tribut­ing to the accel­er­a­tion of Web3 adop­tion by reduc­ing entry bar­ri­ers for retail users.

Trust Wal­let users can now eas­i­ly con­vert between cryp­to and fiat using var­i­ous inter­na­tion­al and local pay­ment meth­ods, with sup­port for more than 30 fiat cur­ren­cies and 10 mil­lion cryp­tocur­ren­cies across over 100 blockchains.

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