ETH Network Congestion Shuts Down Crypto Gaming Casino: Report

The ETH network congestion shuts down FunFair Technologies-owned KingTiger Casino which is now on the lookout for solutions for hosting “a new range” games and features for the participants as we are reading more in our latest ethereum news.

The ETH network congestion forced the online casino to close shop and the development came to light after KingTiger Casino’s official website announced the temporary closure of the service:

“We have had to temporarily close our casinos due to the Ethereum network congestion, making it impossible to run our games in their current format.”

Casino Gambling Facts To Know To Win

The crypto-centric online casino is now on the lookout for new solutions which can host a new range of features and games for the participants. The casino services have been temporarily suspended as the platform is allowing users to gain access to their digital wallets. The parent company FunFair Technologies allows users to create new wallet accounts and Kingtiger remained on the stance that the owners can remain control over their assets and clarified:

“You may keep any funds in there as long as you like or move them out to another ERC-20 address.”

Ethereum Transactions Fee Revenue, miners, mining, ethereum

The gambling site was powered by the FUN token as an in-house initiative by the FunFair Technologies running the smart contract technology. FunFair’s leadership didn’t respond to comment yet. Ethereum’s London upgrade resulted in 800 deflationary blocks, causing a spike in gas fees and ETH burn rates. The blocks were attributed to ETH burns overtaking the mining rewards and decreasing the supply temporarily. The hard fork was aimed at ETH’s inherent problem related to the network scaling and fluctuation transaction fees and the rise of NFT and DeFi imposed further stress on the Ethereum network. After the fork, Ethereum’s price surged to $2800 to break the $3000.

As recently reported, the London hard fork comprises five seaprate Ethereum Improvement Proposals and changes the network that has been submitted, discussed by other developers and stakeholders that are integrated into the code, and one of them is EIP-3529. There are smart contracts codes that automate transactions for the things like NFT purchases and asset swaps which are no longer needed after a certain point which are kind of how the aluminum can no longer be used after the soda has been drunk.

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Author: Stefan

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