Cloudflare failure shows that cryptocurrencies are not so decentralized

Cloudflare, a major company responsible for performing a variety of functions for websites on the Internet, had a downtime on July 17 that severely affected the functionality of the websites. Downtime eventually led to a decline in Bitcoin (BTC) transactions.

“Cloudflare’s DNS (Domain Name System) disorder may be reflected in Bitcoin’s transaction transfer rate, presumably because the most popular web wallets could no longer be accessed.” said the engineer and Bitcoin expert, Jameson Lopp, in one Tweet 17th July. Lopp’s tweet contained a Graph showing a noticeable drop in bitcoin transactions per second.

Cloudflare falls

Cloudflare posted a note on its website at 9:46 p.m. UTC on July 17th There, the existence of a problem and the company’s investigation into the incident are described in detail.

Cloudflare failure shows that cryptocurrencies are not so decentralized
Cloudflare failure shows that cryptocurrencies are not so decentralized

“This afternoon we saw a break in some parts of our network,” he showed Cloudflare in an update at 10:09 p.m. COORDINATED WORLD TIME. “”It wasn’t the result of an attack. “

The update further explains:

“It appears that a router in our global backbone network announced faulty routes and resulted in some parts of the network being unavailable. We believe that we have fixed the root cause and are now monitoring the systems for stability.”

At 10:57 p.m. COORDINATED WORLD TIME, A last update of the situation showed the solution to the problem.

The event raises a question about decentralization

The Bitcoin blockchain itself was not interrupted during this event. However, the event is According to Lopp’s tweet, it may have blocked the gateway to Bitcoin for many people. The problem affected many websites, including cryptocurrency services, This means that users are unlikely to be able to access their funds held in such services during this outage.

The cloud flare problem and the subsequent decline in transactions observed by Lopp, can point this out A significant number of cryptocurrency users often use storage options and centralized exchange. What makes space It is less decentralized than the ideals and technologies on which the industry is built. In addition, despite the fact that Cryptocurrency users use different services. The outage removed many of these services with a single point of failure: Cloudflare.

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