Major cryptocurrency enthusiasts, on Monday, lamented as major social media and community platforms — Facebook, Instagram, and WhatsApp — went offline.
The three platforms went down at approximately 11:16 AM EST on Oct. 4 and according to Facebook’s communications team, who communicated through Twitter, the company was “working to get things back to normal as quickly as possible.”
Many Crypto Twitter users used the incident to stress the need for a decentralized social network built on blockchain.
“If they built Facebook on a blockchain, it would never go down,” said Allen Farrington, who regularly writes about Bitcoin and cryptocurrencies on his Medium blog.
CoinTelegraph reports that while these social media channels experienced a downtime, the price of Bitcoin and other cryptocurrencies surged. Bitcoin (BTC) price moved above $49,000 after falling to a daily low of $47,166, an increase of roughly 4.5% in less than two hours. Similarly, the price of Ether (ETH) rose 3.5% over the same period to reach $3,411 at the time of publication.
The publication adds that the interruptions may impact community engagement around crypto and blockchain projects, but Discord, Twitter, YouTube, and many other platforms are still functioning normally.
Meanwhile, it seems Twitter is already taking steps to make its platform decentralized. In December 2019. CEO Jack Dorsey first announced that the platform would be funding a dedicated team to develop a decentralized standard for social media. Recently, he hired a crypto developer to lead the group.
