KingTiger Casino was recently closed due to Ethereum congestion issues. The online casino has stated that it will not function until it finds a solution for its users.
You can find their WebsiteThe company announced that it was closing down due to Ehereum network congestion. According to them, it is impossible to run their games on Ehereum network using their current format.
KingTiger Casion is currently looking for a better solution in order to accommodate its new games, advanced features, and other features. Users can still access their bank accounts, even though the casino services aren’t available right now.
KingTiger’s owner Funfair Technologies also allows users to open new accounts. KingTiger Casino assured users who have non-depository accounts that they can still manage and control their assets. These users were assured that they could keep their funds in their personal wallets up to the time they want or move them to an ERC-20 account.
A quick overview of KingTiger and the funfair
KingTiger was operating with the FUN token. This is not surprising as Funfair technologies, the parent company of FUN token, is the one who created it based on smart contract technology. Funfair technology is a gaming platform which uses Ethereum smart contracts for transactions.
The platform is distributed and was launched in 2017. The company has not yet made any statements regarding the temporary closure of its casino.
Ethereum Hard Fork is an alternative solution to these problems
One reason the London hard fork is so admirable is because it aims to fix Ethereum network problems. There were previously unstable transaction fees and a lackluster scalability.
Due to the increase in NFTs and DeFi, the network was becoming overloaded. The community hopes that this upgrade will solve the scaling issues.
With the hard fork, 800 more deflationary block have been created as a result ETH’s excessive burning that has outpaced mining rewards. This mechanism temporarily reduced Ethereum’s supply.
ETH is currently targeting to surpass the $4k mark as a result of Bitcoin's growth.| Source: ETHUSD at TradingView.com
After the upgrade, Ethereum’s price reached $ 2,000 and then broke through the $ 3,000 mark. The transaction fees for the Ethereum network remain high at this point. The deal was originally as low at $ 4 before the July upgrade, but it has increased to $ 16. Despite this increase, it still falls below the $ 33 Uniswap fees on its network.
Featured image by Pixabay, chart at TradingView.com