Binance's H1 2024 API uptime report – 99.99% reliability
Binance's H1 2024 API uptime report – 99.99% reliability
Binanse released the report showing a remarkable 99.99% API uptime, crucial for its more than 200 million users who rely on these APIs for market research and trading.
This achievement underscores the importance Binance places on transparency and user satisfaction. As Chief Technology Officer Rohit Wad noted, "despite being a leading global blockchain ecosystem, one of our strongest values at Binance is we always stay humble". In keeping with this spirit of transparency, the exchange is sharing details on API uptime and incidents for the first half of this year.
The significance of API uptime cannot be overstated, particularly for a platform like Binance, which supports a 24/7 trading environment. Many of its 200 million users depend on the APIs for accessing real-time data, including price, depth, and trading activity, essential for their market strategies.
Throughout H1 2024, Binance's APIs provided uninterrupted service, except for a brief incident in February, which caused a minor 12-minute downtime due to unprecedented trading activity.
The uptime calculation, as detailed in the report, involves rigorous monitoring and a transparent methodology.
Binance calculates yearly uptime by dividing the number of operational hours by 8,784 (total hours in a year) and multiplying by 100 to get a percentage. In Q1 2024, Binance had 44,640 uptime minutes in January, 41,760 in February, and 44,640 in March, totaling 131,040 minutes. Factoring in 12 minutes of downtime in February, the uptime calculation is 131,028 / 131,040 * 100, equating to 99.99%.
Looking ahead, Binance plans to continue sharing detailed uptime reports quarterly and invites user feedback through their Product Feedback & Suggestions platform.
As the crypto market evolves, Binance’s dedication to maintaining high operational standards will likely play an important role in its success and user satisfaction.
See also: Bitget expands it's portfolio with TimeSOL, Solana-based toket
