Why is Avalanche cryptocurrency Making So Much Buzz This Week?
An outage of any sort can prove to be a big problem for most cryptocurrencies and that is what happened with Avalanche yesterday.
The cryptocurrency has implemented the Avalanche consensus and on Wednesday, it experienced an outage with its web wallet that went on for as long as six years. In the world of cryptocurrencies, an outage for that long can be quite damaging. The outage had been triggered owing to server congestion caused by an airdrop done by AvaLaunch.
The outage ultimately led to users not having any control over the funds in their wallets. Usually, such an outage might not be a cause for considerable concern; however, the situation is a bit different when it comes to the Avalanche cryptocurrency. The Avalanche blockchain is entirely dependent on these web wallets when it comes to servicing its users and hence, this outage was a significant problem. It now remains to be seen if this outage has any long-term effect on the cryptocurrency’s price.