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Saturday, October 23, 2021

BTC price passes $63K as US Bitcoin ETF launches ! – Site Title

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BTC price passes $63K as US Bitcoin ETF launches ! – Site Title

Facebook Partners With Coinbase to Launch Its Cryptocurrency Wallet Novi ! – Site Title

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Tuesday, October 5, 2021

#Facebook, Instagram Went Down for Hours as Bitcoin Advocates Took Shots

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The social media giant’s major services went offline for hours today—a prime example of the weaknesses of centralized services, say crypto enthusiasts.

In brief

Facebook and its owned services Instagram, Messenger, and WhatsApp all went down for several hours.

Advocates of blockchain technology and crypto are calling for decentralized alternatives.

Facebook and related services such as Instagram, WhatsApp, Messenger, and Oculus went down for several hours today, with the social media giant citing “networking issues” behind the global, widespread outages.

Reports suggest that the outages were tied to DNS issues, with cybersecurity reporter Brian Krebs writing that DNS records were “withdrawn this morning from the global routing tables.” Other reports suggested that Facebook attempted to manually restart servers, and that employees weren't able to enter buildings due to widespread service disruption.

Services are only now starting to come back online, The Verge reports, but it could take hours before global access is restored across all of Facebook’s apps.

It’s one of Facebook’s worst outages to date, affecting the social network’s 2.89 billion global users, as well as those who use its related services. In 2019, Facebook weathered a 14-hour outage, while an outage back in 2008—when the service had just 150 million users—lasted for about a day.

For advocates of blockchain and decentralized networks, today’s outage is the latest prominent example of how centralized systems can fail on a massive scale. Blockchain offers a potential alternative to such centralized models, with distributed, user-run networks that lack a single point of failure and are censorship-resistant to boot.

Blockchain builders, Bitcoin enthusiasts, and decentralization advocates have used the occasion to prod Facebook and centralized (or “Web2”) systems across Twitter—which has largely remained online amidst Facebook’s issues—and via emailed statements.

"Today's total collapse of Facebook and Instagram, among other apps, illustrates the problem with centralization,” said Unstoppable Domains founder and CEO Matthew Gould, via email. “On the decentralized web, or Web 3.0, it would make it easier for users to port their data and contacts over to other services, as they wouldn't be dependent on Facebook or a Facebook login to contact their friends and family or use their favorite apps."