{"id":379366,"date":"2021-12-10T22:30:00","date_gmt":"2021-12-10T19:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/"},"modified":"2021-12-10T22:30:00","modified_gmt":"2021-12-10T19:30:00","slug":"finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/","title":{"rendered":"# Finance Redefined: AWS turns crypto exchanges offline, and Sushi CTO resigns, Dec. 3\u201310"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a289ee835a01\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a289ee835a01\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/#AWS_outage_highlights_the_need_for_truly_decentralized_exchanges\" >AWS outage highlights the need for truly decentralized exchanges.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/#Joseph_Delong_wraps_up_time_as_SushiSwap_CTO\" >Joseph Delong wraps up time as SushiSwap CTO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/#Coinbase_opens_cryptography_library_to_promote_innovation\" >Coinbase opens cryptography library to promote innovation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\/#Token_performances\" >Token performances\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Finance Redefined: AWS turns crypto exchanges offline, and Sushi CTO resigns, Dec. 3\u201310 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Welcome to the latest edition of Cointelegraph\u2019s decentralized finance <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter.<\/p>\n<p>Although the markets may be down and technical indicators built upon AWS malfunctioning, fear not young degens, fundamental news and the spirit of Wagmi is abundant as ever.\u00a0So, read on and discover all you need to know about the most important events of this week.<\/p>\n<p>What you\u2019re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi\u2019s developments over the last week, subscribe below.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<h3><span class=\"ez-toc-section\" id=\"AWS_outage_highlights_the_need_for_truly_decentralized_exchanges\"><\/span>AWS outage highlights the need for truly decentralized exchanges.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An Amazon Web Service outage this week produced significant cascading effects on the global supply chain and delivery industry, as well as hours-long operational disruptions to decentralized exchange dYdX and leading centralized exchanges Binance.US and Coinbase.<\/p>\n<p>AWS is the world\u2019s largest cloud service infrastructure, which provides an array of services, including network servers, storage capacities, remote computing and mobile development, to name a few.<\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.srgresearch.com\/articles\/quarterly-cloud-market-leaps-to-42b-amazon-microsoft-google-pocket-63-of-dollars-spent\">data<\/a> published this year by Synergy Research Group, the tech titan holds a 33% share of the cloud infrastructure market, followed by Microsoft and Google with 20% and 10%, respectively.<\/p>\n<p>Details on the incident were largely undisclosed; however, it was stated on the company\u2019s service health page that \u201cmultiple AWS APIs in the US-EAST-1 Region,\u201d located in Northern Virginia, were experiencing connectivity issues.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> statement shared on Dec. 7, and into the early hours of Dec. 8, dYdX spoke about enhanced latency across the network, as well as website loading failures, before disclosing its overreliance on the centralized servers, one of which is AWS.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Unfortunately, there are still some parts of the exchange that rely on centralized services (AWS in this case). We are deeply committed to fully decentralizing and this remains one of our top priorities as we continue to iterate on the protocol. We apologize for this outage.<\/p>\n<p>\u2014 dYdX  (@dydxprotocol) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dydxprotocol\/status\/1468408322315464706?ref_src=twsrc%5Etfw\">December 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analytical data from D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>Radar reveals that dYdX is the 13th largest decentralized finance application built on the Ethereum Network, registering approximately $1.5 billion in daily trading volume. In September this year, dYdX achieved a historic transactional milestone in surpassing the volume of Coinbase over the course of a single day, with $4.3 billion in comparison to $3.7 billion.<\/p>\n<p>Decentralization is understood by many early crypto adopters to be a core component of the industry\u2019s architecture. Alongside security and scalability, the former makes up the so-called blockchain trilemma, a concept coined by Ethereum co-founder Vitalik Buterin, to denote the necessity to sacrifice one side of the triad to experience the benefits of the other two.<\/p>\n<p>In the world of crypto exchanges, many opt to prioritize security and scalability in pursuit of mass adoption but, therefore, operate with largely centralized, Web 2.0-like structures.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Decentralization vs. centralization: Where does the future lie? Experts answer<\/em><\/strong><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/83d67206-9b63-4d42-b814-c94e25bba7a7.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Joseph_Delong_wraps_up_time_as_SushiSwap_CTO\"><\/span>Joseph Delong wraps up time as SushiSwap CTO<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>SushiSwap chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Joseph Delong, announced his immediate departure from the decentralized exchange this week, pledging to honorably pass the proverbial batten onto the next leader, alongside necessary accounting and information data.<\/p>\n<p>Delong explained the reasoning behind his decision in a candid Twitter <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/josephdelong\/status\/1468689025607376899\">thread<\/a>, citing internal conflicts and a lack of unified vision for the project, stating:<\/p>\n<blockquote><p>\u200b\u200b\u201cI wish Sushi the best and am saddened that Sushi is so imperiled within and without. The chaos that is occurring now is unlikely to result in a resolution that will leave the DAO as much more of a shadow than it once was without a radical structural transformation.\u201d<\/p><\/blockquote>\n<p>Delong has experience working in the Web 3.0 space as a blockchain engineer and developer. Formerly employed as a senior software engineer at ConsenSys, Delong took up the position of CTO at SushiSwap at the beginning of 2021 following Chef Nomi\u2019s infamous exodus in the months prior.<\/p>\n<p>Over the past year, Delong has guided SushiSwap to the 12th ranked position in nominal total value locked value (TVL) with $2.85 billion but also suffered obstacles with stringent whitelisting acceptance on layer-two protocol Optimism, as well as a $3-million supply chain exploit on launchpad MISO and, more recently, rumoured vulnerability in its smart contracts to the value of $1 billion.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SushiSwap denies reports of billion-dollar bug<\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Coinbase_opens_cryptography_library_to_promote_innovation\"><\/span>Coinbase opens cryptography library to promote innovation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One of the leading cryptocurrency exchanges, Coinbase, this week announced the launch of an open-source library-themed platform, titled <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.coinbase.com\/meet-kryptology-coinbases-open-source-cryptography-library-b5f22854f3f7\">Kryptology<\/a>, designed to provide developers with a suite of \u201csecure, audited, and easy-to-use application programme interfaces (APIs).\u201d<\/p>\n<p>In an official blog post, Coinbase outlined its intentions for the library in fostering the continued development of this long-standing technology:<\/p>\n<blockquote><p>\u201cWhile enabling further innovation is our primary goal, we also aim for Kryptology to elevate the standard for what is considered to be a robust, usable cryptographic library.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Coinbase announces support for hardware wallets, starting with Ledger<\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Token_performances\"><\/span>Token performances\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Analytical data reveals that DeFi\u2019s total value locked has decreased 11.3% across the week to a figure of $143.95 billion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/dd74b454-495f-4d8f-b16d-908c436b0405.png\"><\/figure>\n<p>Data from Cointelegraph Markets Pro and TradingView reveals DeFi\u2019s top 100 tokens by market capitalization exceeding bearish across<strong> <\/strong>the last seven days.<\/p>\n<p>Terra (LUNA) was the sole gainer of the top 100 this week with a mere 1.81%.<strong> <\/strong>Not the most memorable technical week for DeFi, let\u2019s put it that way, but unsurprising considering the wider context of the crypto-wide market pullback.<\/p>\n<p><strong>Interviews, features and other cool stuff<\/strong><\/p>\n<ul>\n<li>Without staking, institutional crypto investors cannot escape inflation<\/li>\n<li>Gold, Bitcoin or DeFi: How can investors hedge against inflation?<\/li>\n<li>Bitcoin continues consolidation: Are we still in a bull market?<\/li>\n<\/ul>\n<p><em>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically advancing space.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-redefined-aws-turns-crypto-exchanges-offline-and-sushi-cto-resigns-dec-3-10\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Finance Redefined: AWS turns crypto exchanges offline, and Sushi CTO resigns, Dec. 3\u201310 &#8221; Welcome to the latest edition of Cointelegraph\u2019s decentralized finance newsletter. Although the markets may be down and technical indicators built upon AWS malfunctioning, fear not young degens, fundamental news and the spirit of Wagmi is abundant as ever.\u00a0So, read on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":379367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNDIxNmJhYTAtM2Q0ZC00OTJkLWE5MjQtOTZlNTZhMDU5MjNiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74956,74983,74868,75916,89215,2758],"class_list":["post-379366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-coinbase","tag-decentralization","tag-defi","tag-dex","tag-sushiswap","tag-amazon"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/379366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=379366"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/379366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/379367"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=379366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=379366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=379366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}