CZ explains how Binance dodged problem
This morning, FTX, OKX, Bitfinex, Bitmex, and Coinbase are reporting that they are having issues accessing sites due to Cloudy to hang up. Platforms such as Xumm Wallet and Discord were also experiencing issues. For now, the fix has been implemented and the issue has been resolved.
CZ educates his opponents on how to avoid outage problems
While many crypto exchanges and services experienced problems, Binance continued to operate. Some of its services, like CoinMarketCap, of course, were also suspended, but the work of the exchange itself did not stop.
Binance head Changpeng Zhao, when asked what the secret to success was, said that the exchange uses a backup setup for Cloudflare, while many others rely solely on it.
What is interesting is that CZ ironically mentioned the word decentralization in his tweet, alluding to the not quite canonical working style of its fellow competitors in the sector. And indeed the question arises: Can there be real crypto decentralization, when a 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 obvious that in the further construction of web3, even short outages of companies that maintain servers or provide cloud services should not interfere with the work of basic services or exchanges. In an ideal web3 there should be no “500 internal server error”.
