{"id":7756,"date":"2021-08-12T12:42:27","date_gmt":"2021-08-12T11:42:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7756"},"modified":"2021-08-12T12:42:36","modified_gmt":"2021-08-12T11:42:36","slug":"ethereum-network-congestion-temporarily-forces-closure-of-crypto-gaming-casino","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-network-congestion-temporarily-forces-closure-of-crypto-gaming-casino\/","title":{"rendered":"Ethereum network congestion temporarily forces closure of crypto gaming casino"},"content":{"rendered":"\n
The KingTiger Casino, which is owned by Funfair Technologies is currently on the lookout for new solutions that will allow it to offer its members \u201ca new range of features and games” amid Ethereum <\/a>congestion.<\/h5>\n\n\n\n
\"Ethereum<\/figure>\n\n\n\n

Due to congestion on the Ethereum network, an online casino\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> has been forced to temporarily lock its doors. The development came to light after the official website of KingTiger Casino announced the company's temporary suspension of operations. According to KingTiger's official statement, “<\/p>\n\n\n\n

\u201cWe have had to temporarily close our casinos due to the Ethereum network congestion, making it impossible to run our games in their current format.\u201d<\/p><\/blockquote>\n\n\n\n

For the time being, the crypto-centric online casino is on the lookout for new solutions that can host \u201ca new range of features and games\u201d for its customers. Despite the fact that the casino <\/a>services have been temporarily disabled, the site is still allowing customers to access their digital wallets and other accounts.<\/p>\n\n\n\n

KingTiger argues that non-custodial wallet owners will be able to keep control of their funds, despite the fact that the parent firm, Funfair Technologies<\/a>, still permits users to open new wallet accounts. The casino provided the following clarification of its position:<\/p>\n\n\n\n

\u201cYou may keep any funds in there as long as you like or move them out to another ERC-20 address.\u201d<\/p><\/blockquote>\n\n\n\n

The FUN token, an in-house project of Funfair Technologies that was built using smart contract technology, was used to power the gaming site's backend.<\/p>\n\n\n\n

The leadership of Funfair did not respond to a request for comment from Cointelegraph shortly after receiving it.<\/p>\n\n\n\n

Referred to: Ethereum supply temporarily goes into deflation as gas prices rise<\/p>\n\n\n\n

The recent hard split in London was intended to address Ethereum's <\/a>intrinsic problems with network scale and unpredictable transaction fees, both of which were addressed. In addition, the emergence of nonfungible tokens and decentralised finance has placed further strain on the Ethereum network's infrastructure.<\/p>\n\n\n\n

The change has already resulted in the creation of 800 deflationary blocks, which were made when Ether (ETH) burns outpaced mining rewards, resulting in a temporary decrease in the supply of the cryptocurrency.<\/p>\n\n\n\n

Following the successful fork, the price of ETH skyrocketed to $2,800 before eventually breaking the $3,000 barrier.<\/p>\n\n\n\n

Transaction fees, on the other hand, continue to be prohibitively expensive. According to BitInfoCharts, the average transaction price is still about $20, with Uniswap <\/a>costs reaching as high as $33 in some instances.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The KingTiger Casino, which is owned by Funfair Technologies is currently on the lookout for new solutions that will allow it to offer its members \u201ca new range of features and games” amid Ethereum congestion. Due to congestion on the Ethereum network, an online casino has been forced to temporarily lock its doors. The development […]<\/p>\n","protected":false},"author":13,"featured_media":7761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2142,128,2143,2028,2144],"class_list":["post-7756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-casino","tag-ethereum","tag-funfair","tag-gaming","tag-technologies"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-135.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7756"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7761"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}