DeFi
Crypto Space Praises DeFi as Alternative in Face of Global IT Outage
As a major IT outage disrupted businesses, IT, and essential services across the globe on July 19, the crypto community went all out on social media to champion the benefits of blockchain technology, with the crypto space remaining unaffected by the outage.
THE Computer failurewhich was caused by a CloudStrike software malfunction, led to an abrupt disruption of services related to Microsoft, the IT industry, businesses, airlines, trains, stock exchanges, banks and even 911 emergency services in the United States, United Kingdom, Australia, Europe and India.
However, blockchain networks like Bitcoin and Ethereum have continued to operate without issues, which is largely due to their decentralized nature of operation.
The crypto community was quick to praise this unique aspect of the DeFi ecosystem and the reliability of decentralized systems, on X and other social networks.
Jeff Garzik, former Bitcoin Core and Linux kernel developer, said on X: “Global IT outage: Linux, Bitcoin, and Ethereum are unaffected.” Other prominent figures in the cryptocurrency industry have shared similar sentiments.
Global computer outage:
Linux, Bitcoin and Ethereum are not affected. 🤔– Ser Jeff Garzik (@jgarzik) July 19, 2024
Jameson Lopp, co-founder of Bitcoin wallet service Casa, stressed the importance of Bitcoin’s update approach. note that Bitcoin avoids automatic updates, which helps prevent widespread issues that could impact the entire network at once.
U.S. Senator Cynthia Lummis, known for her pro-crypto stance, also weighed in, rhetorically asking which currency was not affected by the computer outages and responding with “Bitcoin.”
Do you know what form of currency was not affected by the widespread computer outages? Bitcoin.
Turns in Numeris
– Senator Cynthia Lummis (@SenLummis) July 19, 2024
The incident sparked discussions about the role of different operating systems in maintaining network stability. Some pointed out that blockchain networks often run on multiple operating systems, which helps make them more robust.
Additionally, the outage sparked a debate about the early days of Bitcoin development. While some recalled Bitcoin founder Satoshi Nakamoto’s initial hesitation to develop a Linux client, Bitcoin Core developer Peter Todd emphasized the importance of Linux support in growing Bitcoin’s user base.
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