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An outage at Amazon Web Services (AWS) has disrupted major cryptocurrency exchanges, including Binance and KuCoin, highlighting the vulnerabilities within the crypto industry. The incident temporarily froze withdrawals on these platforms, underscoring the reliance of the decentralized crypto ecosystem on centralized infrastructure. Experts have noted that while blockchain technology is designed to be decentralized, a significant portion of the node infrastructure, particularly on networks like Ethereum and Solana, still depends on centralized services like AWS. This event has reignited discussions about the need for more robust decentralized solutions in the crypto space.
AWS outage disrupts top centralized crypto exchanges like @binance & @kucoincom spotlighting a critical vulnerability in Web3 infrastructure. Decentralization isn’t just a buzzword. It’s a necessity. 👇 https://t.co/yv8PyltpHj
every major ecosystem is built around a few core dapps, which all have their own mini-ecosystems (leading to network effects) you can build permissionlessly on top of any defi protocol or integrate its contracts/tokens, thats the beauty of onchain composability great read https://t.co/tbvwLN7P1U
📰 Autonomys CEO @Polkatodd on how the recent AWS outage reveals the risks of web3 relying on centralized infra for @DefiantNews: “While blockchain networks are designed to be decentralized, a large portion of their node infrastructure—especially on Ethereum and Solana—relies on
