KingTiger Casino, owned by FunFair Technologies, is now looking for new solutions to host “a range of new features and games” for its participants.
The congestion on the Ethereum network forced an online casino to close its doors. This development was only revealed after KingTiger Casino’s official website announced that the company was temporarily suspending its services. According to 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.”
Cryptocurrency Based Casino Suspends Services
This online casino focused on cryptocurrencies is currently looking for a new solution that can host “a range of new features and games” for its participants. Although casino services have been temporarily suspended, the platform allows users to access their digital wallets.
Parent company FunFair Technologies continues to allow users to create new wallet accounts, while KingTiger insists that wallet owners can keep control of their assets without custody. The casino has clarified its position and said:
“You may keep any funds in there as long as you like or move them out to another ERC-20 address.”
The gable website is powered by FUN-Token, an internal plan from FunFair Technologies that runs on smart contract technology.
The FunFair leadership did not immediately respond to requests for comment.
Ethereum Network Under Pressure
The recent London hard fork was designed to address Ethereum’s inherent problems related to network expansion and volatile transaction fees. In addition, the surge in irreplaceable tokens and decentralized finance has continued to put pressure on the Ethereum network.
The upgrade created 800 deflationary blocks that are formed when ETH burn exceeds the mining reward, temporarily reducing supply.
After the successful fork, the price of Ethereum rose and eventually broke the $3,000 mark.
Still, the transaction costs are high. According to data from BitInfoCharts, the average transaction price is still around $20 and Uniswap fees go up to $33.
