Cloudflare, a connected cloud network, just recently experienced a brief outage moments ago, causing some crypto exchanges and some other platforms including Discord to be down for a while. Some are now really looking forward to the era of Web3 – decentralized internet, as they have seemed to realize centralized service providers might not be the best option.
Cloudflare Experienced Brief Outage Causing Multiple Platforms To Be Inaccessible
A lot of cryptocurrency exchanges such as FTX, Bitfinex, and OKX, were down for a while after the distributed service provider, Cloudflare was down for about an hour. The company has now quickly resolved this issue with a fix. While the cloud network was down, some users reported that it was a problem with API that caused this outage. However, we all are still guessing what caused this issue as the company itself hasn’t even stated what the problem was, even after it’s been fixed. They only tweeted saying: “A fix has been implemented and we are monitoring the results.”
FTX, Bitfinex, And OKX Were All Affected By Cloudflare Outage
Multiple platforms with several cryptocurrency exchanges including FTX, Bitfinex, and OKX, were all affected by this outage. The CEO of OKX, Jay Hao, and FTX tweeted about this issue, the latter said its market was in post-only mode, while the former went ahead and brought up the topic “Web3”, asking if there is “Any Web3 alternative in the future.”
Etherscan and Discord were also part of the platform that was down during this outage. Thankfully, since the issue has been fixed, most platforms are now back to normal.
Others Now Calling For Web3 Alternative – Decentralized Internet
Cloudflare outage has caused some people to begin to doubt centralized service providers, with people in the blockchain industry already calling for the acceleration of Web3 development and decentralized services. They have now realized that with most of these service providers being centralized, they are definitely not immune to compromises, and if by any chance they ever get compromised so badly, it can result in several platforms around the world going down, and actually affecting the world in ways that are not so good.
With the world now evolving globally, brewing various aspects of life, especially on the net, a decentralized internet can sure be a good option, but again, a readily available decentralized internet that will be available for everyone in the world might just take a few more years to come to reality.
When Will Web3 Get Here?
Web3 has been the rage this season, everyone is talking about it, big tech companies are investing their way into it. Although there have been some people who have been skeptical about it, Jack Dorsey is now creating Web5 because he thinks everything said about Web3 being decentralized is a flat-out lie, and Elon Musk also tweeted that Web3 isn’t real. However, that doesn’t stop the developments going on around this technology, recent developments are even starting to reveal that we might actually be getting closer to the era of this technology earlier than we expected.
Companies like Binance Labs, Flow, and so on have been pouring investments into this Web3 ecosystem. CoinGecko also will be hosting a conference on how Web3 will influence the internet in the future in July.
People are being serious about bringing this Web3 to reality. So back to the question “When Will Web3 Get Here?” It might take a few more years before there is a strong development and arrival of this technology, but we really can’t say, it might also get here sooner than we expect, especially with some people already realizing that maybe centralized service providers aren’t the best option after all.
