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KingTiger Casino recently shut down due to Ethereum congestion issues. The online casino has announced that it will not work until it gets a suitable solution for its users.
On their website, the company announced it was shutting down due to Ehereum network congestion. According to them, it has become impossible to run their games on the network with their current format.
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For now, KingTiger Casion is looking for a better solution to accommodate its new games and advanced features. Currently the casino services are not working, but users can still access their wallet.
Funfair Technologies, owner of KingTiger, also allows users who wish to create new accounts to do so. In addition, KingTiger Casino has assured users of non-depository wallets that they can still control their assets. They assured these users that they can keep their funds in their personal wallets until they want to or move them to an ERC-20 address.
A brief on the funfair and KingTiger
KingTiger was using the FUN token to operate. This is not surprising since the parent company, Funfair technologies, is the originator of the FUN token based on smart contracts. Funfair technology is a gaming platform that uses Ethereum smart contracts to execute transactions.
The platform is decentralized and was launched in 2017. The company has yet to make any new statements regarding this temporary closure of its casino.
Ethereum Hard Fork to provide an alternative to these problems
One of the reasons the recent London hard fork is laudable is that it aims to fix Ethereum network issues. Previously, there were unstable transaction fees and a lack of scalability.
In addition, the network was becoming too congested following the rise of DeFi and NFTs on the network. But with this upgrade, the community hopes to see a solution to the scalability issues.
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With the hard fork, there are now 800 more deflationary blocks formed as a result of the excessive burning of ETH which has exceeded mining rewards. As a result, this mechanism automatically temporarily decreased Ethereum’s supply.
At the time of writing, ETH targets to cross the $4k mark following Bitcoin's growth | Source: ETHUSD on TradingView.com
After the upgrade, the price of Ethereum hit $ 2,000 and then broke above the $ 3,000 level. However, at this time, the transaction fees on the Ethereum network are still high. Before the upgrade in July, the deal was as low as $ 4 but has now added $ 16. But even at its level, it is still below the $ 33 Uniswap charges on its network.
Featured image from Pixabay, chart from TradingView.com
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