This morning, FTX, OKX, Bitfinex, Bitmex and Coinbase are reporting that they are having problems accessing the sites. cloudflare hang. Platforms like Xumm Wallet and Discord were also facing trouble. For now, the fix has been applied, and the problem is resolved.
The Cloudflare team is aware of current service issues and is working to resolve them as quickly as possible. Updates can be followed here. https://t.co/22Yiyu3lKJ— cloudflare (@cloudflare) 21 June 2022
CZ educates its opponents to avoid the problem of outages
While many crypto exchanges and services experienced problems, Binance continued to operate. Some of its services, such as CoinMarketCap, were also of course suspended, but the exchange itself did not stop.
The head of Binance, Changpeng Zhao, when asked what is the secret of success, said that the exchange uses a backup setup for Cloudflare, while many others rely solely on it.
Welcome to decentralization. We only have a redundant setup for one service, relying on many others entirely. lucky. https://t.co/ZLEDDKAels— CZ Binance (@cz_binance) 21 June 2022
Curiously, CZ mentions the word decentralization in its tweet, which points to the fairly canonical working style of its fellow competitors in this space. And the question really arises: can there be real crypto decentralization, when the short-term suspension of one of the web services is enough to shut down half of all crypto companies?
The question remains open, but it seems clear that even fewer outages from companies maintaining servers or providing cloud services, in pursuit of building Web 3, should not interfere with basic services or the work of exchanges. In a perfect web3, “500 Internal Server Error” shouldn’t happen.