Weaknesses in Centralized Systems Highlight Bitcoin’s Resilience

With the world's progress in the digital age, the dependence on technology is becoming more and more obvious. Digital tools and platforms now play a crucial role in everything from communication to business operations.

However, this dependence brings its own set of challenges, as demonstrated by the recent issues faced by CrowdStrike, a leading global cybersecurity company. An update led to widespread system outages, impacting critical sectors such as shipping and travel. The incident highlighted the vulnerabilities inherent in centralised digital infrastructures.

This error also triggered a series of system crashes, resulting in the notorious ‘blue screen of death’ appearing on screens around the world. CrowdStrike quickly identified and fixed the problem, assuring customers that it was not due to a cyber attack and that a fix was available.

In the midst of the chaos, comments about Bitcoin’s resilience have emrged. Unlike the systems affected by the CrowdStrike incident, decentralized cryptocurrency remained unaffected.

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Taras Kulick, CEO of SunnySide Digital, attributed this stability to BTC’s infrastructure, which runs primarily Linux-based systems.

The decentralized nature of Bitcoin, independent of centralized structures and proprietary software, underscores the stability of blockchain technology.

Look at the hash chart of Bitcoin, [you will] see that the metric is completely unaffected.

Senator Cynthia Loomis, who supports crypto technology, also stressed the reliability of blockchain during this period. She asked:

Do you know what form of currency hasn’t been affected by widespread cyber outages? Bitcoin.

Lummis ended her statement with “Vires in Numeris,” a Latin phrase meaning “Strength in Numbers,” referring to the numerous validation nodes that process Bitcoin transactions.

Bitcoin’s strength is due to the fact that it does not rely on Microsoft’s software, as Kulik noted:

It’s hilarious because banks globally have been shutting down because of this server issue, and yet, Bitcoin keeps hashing…

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.