While Bitcoin Jumps Over $49K, Facebook, Instagram and WhatsApp Go Down

On Monday, October 4th, Bitcoin skyrocketed above $49,000. However, the world’s social networks have failed to follow the example of the first cryptocurrency. What’s more, Facebook, Instagram, and WhatsApp went offline altogether.

Social media platform Facebook, photo and video sharing app Instagram and messenger WhatsApp crashed at about 3:16 pm UTC on October 4.

A little later, after the global error, a message appeared on Twitter that Facebook is working hard to restore its systems.

During the shutdown, many Crypto Twitter users called for the need for a decentralized social network built on the blockchain.

“If they had built Facebook on the blockchain, it would never have collapsed,” said Allen Farrington, who regularly writes about Bitcoin and cryptocurrencies on his Medium blog.

The fact is that such interruptions can affect the participation of the crypto community in cryptocurrency and blockchain projects. Luckily, Discord, Twitter, YouTube, and many other platforms still work fine.

By the way, Twitter is already developing its own initiative to decentralize social networks. CEO Jack Dorsey first announced in December 2019 that the platform would fund a dedicated team to develop a decentralized standard for social media, and hired a crypto developer to lead the group.

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