Can internet outages really disrupt crypto networks?
While some security issues do exist, major internet outages like the one witnessed across the EU recently cannot really threaten cryptocurrencies or their associated networks. In the wee hours of Oct. 18, several parts of Europe, America and Asia were left without any internet due to several undersea internet cables being “cut,” causing a chain reaction of connectivity problems across the globe. France, Italy and Spain, in particular, were faced with significant outages, with many experts claiming that vandals were to be blamed for the same.According to Jay Chaudhary, CEO of Zscaler — an....
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“Attacks that we witnessed today were possible mainly because there is a centralized infrastructure which could have been targeted,” said Piotr Janiuk, CTO of Golem, which seeks to decentralize the internet using peer-to-peer technology. “The attack itself isn’t easy to carry out, but it is obvious that even the backbone infrastructure behind the Internet contains single points of failure which are prone to such malicious activity – even though the infrastructure may comprise multiple machines. As of today, the trend is to move towards distributed solutions and the main problem is the lack....
In the past year, internet giants like Amazon and Google all experienced outages which were blamed on errors and failed upgrades. The occurrence of such outages and their impact around the world again highlighted the importance of having a decentralized internet.
Also, just like how the Covid-19 pandemic showed the world that blockchain-based digital currencies are the future, the outages suffered by the powerful internet companies may have given an impetus to those that champion the Web3.0.
However, this Web3.0 can really take off if players in this ecosystem play....
Gems wants to disrupt social networking like Bitcoin revolutionized the definition of currency. In the digital age, social networking plays a central role in most people's personal and professional lives. While social networks offer users convenience, they also allow corporations to mine user data and reap immense profits. More troubling is that government can use these networks to spy on their citizens. Gems is a new cryptocurrency-based project that hopes to disrupt social networking like Bitcoin disrupted currency by returning control of the network to users and bringing "cryptocurrency....
The financial regulator ordered the Bitkub exchange to close and fix issues that caused several outages as prices spiked this month.
The Securities and Exchange Commission of Thailand (SEC) issued an order against a local cryptocurrency exchange to temporarily stop its operations. Bitkub has been in the headlines since the start of the year due to several outages suffered in their systems. Crypto Exchange Suffered Three Massive Outages Since the Beginning of 2021 According to Bangkok Post, the financial watchdog gave the exchange five days, starting January 20, to solve all the technical issues. Mainly, their desktop trading platform suffered three outages since January 2. The other incidents happened on January 3 and....