Cloudflare outage temporarily halts major crypto platforms

An outage at web infrastructure firm Cloudflare, which disrupted approximately 20% of global internet traffic, also led to temporary service suspensions for major cryptocurrency platforms including Coinbase, Blockchain.com, Arbiscan, and DeFiLlama, Wu Blockchain reported. In response, Ethereum Layer 2 data storage project EthStorage commented that the incident highlights the need for comprehensive decentralization, including at the Layer 1 consensus algorithm level. The project added that the industry must gradually reduce its dependence on centralized systems.