Cloudflare Outage Shows Crypto Holders Are Not That Decentralized

Cloudflare (NYSE:), a major company responsible for running an array of functions for websites across the internet, suffered downtime on July 17, affecting a large number of websites’ functionality. The downtime ultimately caused a drop in (BTC) transactions.

“The Cloudflare DNS [Domain Name System] outage can be seen reflected in the rate of Bitcoin transactions broadcast, presumably because popular web wallets became inaccessible,” Bitcoin engineer and expert, Jameson Lopp, said in a July 17 tweet. Lopp’s tweet included a chart showing a noticeable drop in Bitcoin’s transactions per second.

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