Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.
Although the markets may be down and technical indicators built upon AWS malfunctioning, fear not young degens, fundamental news and the spirit of Wagmi is abundant as ever. So, read on and discover all you need to know about the most important events of this week.
What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below.
AWS outage highlights the need for truly decentralized exchanges.
An Amazon Web Service outage this week produced significant cascading effects on the global supply chain and delivery industry, as well as hours-long operational disruptions to decentralized exchange dYdX and leading centralized exchanges Binance.US and Coinbase.
AWS is the world’s largest cloud service infrastructure, which provides an array of services, including network servers, storage capacities, remote computing and mobile development, to name a few.
According to data published this year by Synergy Research Group, the tech titan holds a 33% share of the cloud infrastructure market, followed by Microsoft and Google with 20% and 10%, respectively.
Details on the incident were largely undisclosed; however, it was stated on the company’s service health page that “multiple AWS APIs in the US-EAST-1 Region,” located in Northern Virginia, were experiencing connectivity issues.
In a Twitter statement shared on Tuesday, and into the early hours of Wednesday, dYdX spoke about enhanced latency…