How Social Media Outages impact the Crypto Ecosystem
Major social media and communication platforms Facebook, Instagram, and WhatsApp went offline for several hours on Monday.
It’s one of Facebook’s worst outages to date, affecting the social network’s 2.89 billions global users. As a result, Facebook’s stock fell by more than 5% on Monday.
Blockchain — a perfect alternative to the centralized systems
For blockchain and decentralized networks enthusiasts, this outage is another prominent example of how centralized systems can fail on a massive scale.
“It should remind everyone why we need a more open, decentralized, and inclusive internet — free from disruptions and with strong defenses,” tweeted digital rights advocacy group Access Now.
Blockchain offers a potential alternative to the centralized models, with distributed, user-run networks that lack a single point of failure and are censorship-resistant.
The interruptions may impact community engagement around crypto and blockchain projects, but Discord, Twitter, Telegram, and many other platforms are still functioning normally.
By the way, according to the announcement made by Jack Dorsey, Twitter CEO, in December 2019, Twitter is already working on its own decentralized social media initiative.
And what do you think about the future of Social Media?
