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Investing.com -- Cryptocurrency exchanges Binance has been experiencing temporary service issues today due to a network interruption at Amazon (NASDAQ:AMZN) Web Services (AWS) data center.
Binance has acknowledged the issue and informed that some services on its platform have been impacted. It said later that all services are gradually recovering and resuming, with withdrawals now reopened.
Similarly, crypto exchange Kucoin said in a post on X that all services have now been fully restored following the recent AWS disruption.
Dr. Max Li, founder and CEO of OORT, a company that offers a cloud for decentralized Artificial Intelligence (AI), commented that the AWS outage is a classic example of the risk associated with a single point of failure in centralized cloud infrastructure.
"While it still faces its own challenges—such as network coordination, latency, and scalability— decentralized cloud computing provides a compelling alternative by distributing data and processing across a network, effectively mitigating the risk of total service disruption," Li told Investing.com.
"While centralized cloud infrastructure will likely maintain its significance, the importance of decentralized computing is becoming increasingly evident.”