Blockchain gaming firm FunFair’s online crypto platform KingTiger Casino has involuntarily suspended its operations because of the Ethereum (ETH) network’s congestion that made fees soar to as high as $29 per transaction last August 12. Users of KingTiger Casino may still access their non-custodial digital wallets, having the option to keep them there or transfer them to a different ERC-20 address.
We have enjoyed sharing our Guaranteed Fair gaming experience with everyone looking to play for FUN. However, 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. We are actively researching solutions and hope to be back with a new range of features and games in our casinos soon,
the KingTiger website stated.
The ETH network has been trying time and time again to resolve their scaling issues to no avail, pushing developers to build on Layer Two and even Layer Three solutions. This is in stark contrast to the BSV network scaling continuously to increase its capacity and utility with the ultimate goal of mass adoption of its blockchain.
No one has been able to run this in production using all the functionality of the Ethereum blockchain because it’s simply not scaling. You can do like 10-15 transactions per second, and it doesn’t work for one company even. So, the problem in Ethereum is that every company that is using it now is building second and third-tier solutions on top of that to try to mitigate that it doesn’t scale. They have a blockchain somewhere down there, but they’re actually building a solution up here solving all their problems,
Stephan Nilsson, founder, and CEO of Oslo-based enterprise blockchain platform UNISOT, explained during an episode of CoinGeek Conversations.
According to data on BitInfoCharts, as of the writing of this article on August 14, the average fee of ETH is $18.91 per transaction, while BSV is only at $0.02. The numbers speak for themselves. After restoring the original Bitcoin protocol through the Genesis Upgrade released early last year, the BSV network has successfully lifted its blockchain’s block size caps, meaning it can be scaled infinitely. And with the Teranode project expected to be released this year, the network’s throughput will increase to over 50,000 transactions per second (tps), compared to ETH’s maximum of just 30 tps.
And this is just the start; throughput can grow to millions and billions of tps as the BSV network continues to scale. This makes transaction fees the lowest in the market and allows global companies from different industries to build whatever application or platform they need. And with a stable and set-in-stone protocol, businesses need not be worried about suspending applications to adjust to protocol changes and updates. All they need to do is to focus on developing and running their platforms.
It can be said that BSV utility is its real value because it is a technology that businesses can use to streamline their processes, improve their systems, and maximize profitability. It is with the hope that KingTiger Casino finds the BSV blockchain as it looks for other solutions to resume operations.