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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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....
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The financial regulator ordered the Bitkub exchange to close and fix issues that caused several outages as prices spiked this month.
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