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    Cloudflare outage damages cryptocurrency exchanges and services

    FTX, OKX, Bitfinex, Bitmex, and Coinbase have all reported problems accessing their websites this morning. Hang on, cloudflare. Platforms such as Xumm Wallet and Discord were also experiencing difficulties. For the time being, the fix has been implemented, and the issue has been resolved.

    Binance continued to operate despite the problems that plagued many other cryptocurrency exchanges and services. Of course, some of its services, such as CoinMarketCap, were also suspended, but the exchange did not shut down.

    When asked what the secret to Binance’s success is, Changpeng Zhao, the exchange’s CEO, said that the exchange uses a backup setup for Cloudflare, whereas many others rely solely on it.

    Surprisingly, CZ mentions the word decentralisation in its tweet, indicating that its competitors in this space have a fairly standard working style. And it begs the question: can there be true crypto decentralisation when the temporary suspension of one of the web services is enough to bring half of all crypto companies to a halt? The question remains unanswered, but it appears clear that, in the pursuit of building Web 3, even fewer outages from companies maintaining servers or providing cloud services should not disrupt basic services or the work of exchanges. “500 Internal Server Error” should not occur in a perfect web3.

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