Funfair Technologies-owned KingTiger Casino is now looking out For brand spanking new options for hosting “a new range of options and video games” for its contributors.
Congestion on the Ethereum network has forced an online casino to temporarily close shop. The development got here to gentle after KingTiger Casino’s official website announced the corporate’s momentary closure of companies. In line with KingTiger’s statement:
“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.”
The crypto-centric online casino is presently looking out for new solutions that can host “a new range of options and video games” for its contributors. Though the online casino services have been temporarily suspended, the platform is permitting users to access their digital wallets.
The parent company, Funfair Technologies, nonetheless permits users to create new wallet accounts, and KingTiger maintains that the non-custodial wallet owners will be able to retain control over their assets. Clarifying its stance, the online casino mentioned:
“You may preserve any funds in there so long as you want or transfer them out to a different ERC-20 deal with.”
The playing website was powered by the FUN token, an in-house initiative by Funfair Technologies operating on smart contract technology.
The recent London hard fork was geared toward Ethereum’s inherent problem related to network scaling and fluctuating transaction fees. In addition, the rise of nonfungible tokens and decentralized finance imposed further stress on the Ethereum network.
The improvement has already created 800 deflationary blocks that have been fashioned when Ether (ETH) burns overtook mining rewards, successfully reducing the availability temporarily.
After the successful fork, ETH’s price rocketed up to $2,800 to eventually break the $3,000 mark.
Transaction charges stay high, however. In line with BitInfoCharts, average transaction prices are still around $20, with Uniswap charges as high as $33.