Friday, September 17, 2021
HomeNewsBacklog causes the crypto casino to cease operations for the time being

Backlog causes the crypto casino to cease operations for the time being




Due to a backlog on the Ethereum network, an online casino was forced to temporarily cease operations. On the official website of KingTiger Casino, the company announced that it would temporarily cease operations. The KingTiger statement reads:

“We had to temporarily close our casinos because there was a backlog on the Ethereum network. That is why our games are no longer running in their current form.”

The crypto online casino is currently looking for new solutions with which it can offer its customers “new features and games”. The casinos have temporarily ceased operations, but users can still access their digital wallets on the platform.

Parent Funfair Technologies still allows new wallet accounts to be created, and KingTiger claims wallet owners still have control over their assets. The casino made it clear:

“You can leave the money on the platform for as long as you want, or you can send the assets to another ERC-20 address.”

The gambling site used the FUN token. This is Funfair Technologies’ proprietary token based on smart contract technology.




Cointelegraph asked Funfair for a comment, but received no response at the time of going to press.

In this context: Ethereum supply deflationary for a short time: gas fees skyrocket

The recent London Hard Fork was intended to solve the problems of network scaling and fluctuating transaction fees with Ethereum. The rise of non-fungible tokens and decentralized funding has put even more pressure on the Ethereum network.

The upgrade has already resulted in 800 deflationary blocks that arose when the Ether (ETH) burns exceeded the mining rewards, which temporarily reduced supply.

After the successful fork, the ETH price skyrocketed to $ 2,800 and was ultimately able to rise above the $ 3,000 mark.

However, the transaction fees are still very high. According to BitInfocharts, the average transaction fee was around $ 20. The Uniswap fee was as high as $ 33.


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending News

Recent Comments