Bluesky outage raises questions over decentralisation promise
Bluesky
, the
decentralised social network
that promised a break from traditional centralised platforms, faced a significant outage on Thursday evening, briefly halting access for users on both web and mobile platforms, TechCrunch reported.
#Pahalgam Terrorist Attack
India pulled the plug on IWT when Pakistanis are fighting over water
Pakistan alleges terror charge on India in its statement
What makes this India-Pakistan standoff more dangerous than past ones
The platform remained inaccessible for nearly an hour. A message on Bluesky's status page acknowledged the disruption, attributing it to what the company described as "Major PDS Networking Problems". PDS stands for personal data servers, which form a core part of Bluesky's infrastructure.
The report added that the first update about the issue was posted at 6:55 PM ET, followed by a second message at 7:38 PM ET, indicating that a fix was being implemented.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Trade Bitcoin & Ethereum – No Wallet Needed!
IC Markets
Start Now
Undo
If decentralisation is meant to eliminate single points of failure, why did Bluesky go down? The answer lies in how the platform is currently structured and used.
Even though Bluesky is built on the
AT Protocol
, which allows anyone to run parts of the network such as personal data servers, relays and client apps, most people still depend on Bluesky's official servers and app. So, even though the system is decentralised in theory, most of the activity still runs through infrastructure controlled by Bluesky itself.
Live Events
Users operating independent infrastructure were unaffected by the outage, reinforcing the potential of the model. Bluesky has said its long-term goal is to encourage the growth of multiple communities, each potentially running their own servers, moderation systems, and apps.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
One example is Blacksky, an initiative building safer and more inclusive online spaces using the AT Protocol.
The incident also reignited a familiar rivalry between Bluesky and Mastodon, another decentralised network that operates using the ActivityPub protocol.
Also Read:
X-rival Bluesky rolls out official verification system
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
32 minutes ago
- Time of India
API prices fall sharply, easing pressure on India's pharmaceutical industry
India's pharmaceutical industry is experiencing relief as active pharmaceutical ingredient (API) prices plummet due to overcapacity and aggressive pricing strategies from Chinese suppliers. Increased domestic API production, driven by government incentives and reduced raw material costs, further contribute to the decline. This trend is expected to continue, boosting profit margins for Indian pharma companies. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Prices of active pharmaceutical ingredients (API) used for manufacturing drugs are seeing a significant drop, bringing relief to India's pharmaceutical pharma industry depends largely on China for sourcing APIs, intermediates and bulk drugs. API prices had shot up during the Covid period and stayed elevated until last year. The situation has now started to change, reducing raw material cost and boosting profit margins for pharma instance, the price of paracetamol API has dropped from ₹900 per kg during the pandemic and ₹600 immediately after to ₹250 now, market sources told ET. The API for antibiotic meropenem has become cheaper at ₹45,000 per kg compared with ₹75,000."Prices of APIs have gone down significantly. It's largely due to over-capacity. We are seeing a huge impact on the prices of antibiotics, steroids, hormones, statins, among others," said Mehul Shah, who tracks the Chinese pharmaceutical expects this trend to continue through this industry expert said the prices have come down because of the aggressive strategy of Chinese suppliers to maintain market dominance. "This aggressive pricing has made Chinese APIs more attractive to Indian pharmaceutical companies, leading to increased imports when prices are low," he said on the condition of anonymity. Dinesh Dua , former chairman of the Pharmaceutical Export Promotion Council, said there were several factors that led to the price decline."While China scaled up significantly after Covid-19, the demand for APIs has gone down too as India has taken steps to become self-reliant," he said. "India's government has implemented the production-linked incentive scheme to boost domestic API production. As a result, companies like Aurobindo Pharma and Torrent Pharmaceuticals have initiated local production of APIs such as penicillin-G. This increased domestic output has contributed to a surplus in supply, exerting downward pressure on prices."Dua said a decline in the prices of raw materials, such as acetic acid and para-aminophenol, essential for API production, has also contributed to lower costs. "Additionally, easing geopolitical tensions and improved logistics have reduced freight charges, further decreasing the overall cost of API," he to industry experts, a gradual return of demand to pre-pandemic levels has also contributed to this situation.
Indian Express
41 minutes ago
- Indian Express
Rapid uptake of crypto in developing economies raises concerns, says IMF's Gita Gopinath: Here's why
The International Monetary Fund's (IMF) first deputy managing director Gita Gopinath on Thursday flagged concerns about the rise of crypto uptake in developing economies saying that though nascent, it poses a risk in terms of currency substitution. In an interview with the Financial Times, Gopinath said 'we are seeing some pretty rapid growth of uptake of crypto in some emerging markets.' Emerging markets faced risks from crypto uptake, especially stablecoins, in terms of 'disintermediation of their financial institutions,' she said. 'In terms of currency substitution, those risks are rising,' Gopinath added. Gopinath's comments came against the backdrop of US President Donald Trump's push for a strategic crypto reserve and backing to the issuance of stablecoins to make America the 'crypto capital of the world'. In the Indian subcontinent, Pakistan has recently struck a deal with US-based World Liberty Financial Inc (WLFI) a firm backed by the Trump family, for that country to emerge as a crypto hub while promoting the use of blockchain technology and the use of stablecoins for payments and remittances. Amid a spate of activity in the crypto space, experts echo Gopinath's warning that cryptocurrencies may pose a risk to the currencies and financial institutions of developing and emerging economies. Stablecoins are cryptocurrencies whose value is pegged to an asset such as a currency or commodity such as gold. Cryptocurrencies such as Bitcoin have rallied since Donald Trump took over as US President owing to the reversal of his earlier skeptical stance on digital coins. He appointed David Sacks as the White House crypto czar while also naming crypto backer Paul S Atkins as the Securities and Exchange Commission (SEC) chair. Flagship cryptocurrency Bitcoin's price stood at $104,512.82 apiece, down 0.07 per cent, at 7:30 pm on Thursday. Last month, Bitcoin breached the $110,00 mark for the first time after the passage of the GENIUS Act Bill in the US Senate owing to bipartisan support. If passed the GENIUS Act is also expected to allow crypto companies to produce more stablecoins. Issuers must be in compliance with anti-money laundering provisions and anti-terrorism regulations, according to the Bill's fine print. Further, stablecoins issuers must back the digital currency with fiat currency or highly liquid assets in a 1:1 ratio. They must also maintain separate reserves to backstop the stablecoins, according to the GENIUS Act Bill. Democratic Senator Mark R Wright, who backed the bill, stated that while there were concerns about the Trump family's involvement in cryptocurrencies to 'evade oversight, hide shady financial dealings, and personally profit at the expense of everyday Americans… blockchain technology is here to stay.' He said it was in America's interest to take the lead on shaping crypto policies. Democratic Senator Elizabeth Warren warned that the GENIUS Act Bill did not meet the minimum standards such as guaranteeing consumer protection and preventing the illicit use of stablecoins. Passage of the GENIUS Act may pose a risk since the illicit use of stablecoins already make up 60 per cent of unlawful crypto transactions. If passed, the GENIUS Act is expected to boost the stablecoin market's growth by 10X to $2 trillion, Warren said citing industry estimates. Developing countries and their dalliance with cryptocurrencies Pakistan recently announced a collaboration between the Pakistan Crypto Council and the WLFI, which envisages the use of blockchain technology to promote financial inclusion. It also aims to monetise national assets such as rare earths besides using stablecoins in trade and remittance. Pakistan eyes the status of a regional crypto hub as a result of this agreement. Experts warn of the inherent instability of the crypto asset system. To elaborate on Gopinath's warning, a paper titled 'Crypto assets as a threat to financial market stability' states that currencies of emerging and developing economies may lose their importance as store of value owing to higher inflation rates, leading to a rising degree of substitution of the domestic currency by a foreign currency. According to an UNCTAD study, this may result in the 'cryptoisation' of emerging and developing economy currencies relative to their GDP and backed by factors such as a younger population as well as macroeconomic stability. In Central America, El Salvador, which approved Bitcoin as official tender in 2021, the cryptocurrency has seldom found use as a means for buying goods and services. Stablecoins may also pose a risk similar to that seen during a bank run — when depositors and investors rush to cash their assets after a bank is unable to honour its financial commitments owing to a shortage of assets. According to the paper cited above, the linkage of stablecoins to a currency creates arbitrage opportunities leading to speculation. Former US Treasury Secretary Janet Yellen during a US Congressional hearing said fears of inadequate asset backing for stablecoins may also lead to a sell off triggering a situation similar to a bank run. In March this year, Trump announced the creation of a strategic crypto reserve — a basket comprising Bitcoin, Ethereum, XRP, Solana and Cardano. While flagging 'corrupt attacks (on cryptocurrencies) by the Biden administration' Trump in a Truth Social post said the US Crypto Reserve, part of his executive order on digital assets will 'elevate this critical industry'. 'I will make sure the US is the Crypto Capital of the World,' Trump said. Under Trump, the US has dropped probes and legal lawsuits related to alleged securities violations against cryptocurrency firms and exchanges. The US government holds an estimated 200,000 Bitcoin pending an audit, according to a fact sheet shared by the White House. To be sure, the US crypto reserve will only store digital tokens obtained through forfeiture proceedings — it will not purchase additional reserves at the cost of the American taxpayer's money, according to the White House fact sheet.
Mint
2 hours ago
- Mint
Wall Street Live: US stocks drop on economic slowdown concerns, Tesla sheds 4.5%
US stocks fell on Thursday on concerns of economic slowdown on the back of the US tariff war and ahead of Friday's jobs data. At 10:20 AM ET, the Dow Jones Industrial Average fell 126.69 points, or 0.30%, to 42,301.05, the S&P 500 lost 12.71 points, or 0.21%, to 5,958.10 and the Nasdaq Composite lost 31.13 points, or 0.16%, to 19,429.36. At the open, the Dow Jones Industrial Average rose 60.2 points, or 0.14%, to 42487.89. The S&P 500 rose 14.9 points, or 0.25%, to 5985.67, while the Nasdaq Composite rose 57.7 points, or 0.30%, to 19518.197. In terms of economic data, the US trade deficit narrowed sharply in April as imports fell by the most on record. The Commerce Department's Bureau of Economic Analysis said on Thursday the trade gap contracted by a record 55.5% to $61.6 billion, the lowest level since September 2023. Imports declined by a record 16.3% to $351.0 billion in April. The yield on the 10-year Treasury fell to 4.34% from 4.37% late on Wednesday. Tesla shares shed 4.5% as the automaker's sales dropped for the fifth straight month in several European markets. Procter & Gamble shares fell 1.3% after the consumer goods bellwether said it will cut 7,000 jobs over the next two years. Brown-Forman stock dropped 14.9% after the Jack Daniel's maker forecast a fall in annual revenue and profit. Five Below stock rallied 7.9% after the retailer reported a stronger quarterly profit. MongoDB jumped 17.2% after the database company delivered a stronger profit than expected. Gold prices gained on Thursday as investors looked forward to US non-farm payrolls data due on Friday. Spot gold was up 0.6% at $3,395.29 an ounce, as of 1147 GMT. US gold futures rose 0.6% to $3,419.70. Spot silver jumped 2.5% to $35.83 per ounce. Platinum rose 3.6% to $1,123.88 and palladium was up 1.8% at $1,018.38. Oil prices advanced on Thursday after Chinese state media reported that President Xi Jinping spoke with US President Donald Trump by phone.
