As crypto investors fledEtherforstablecoinsand cash en masse, Ethereums gas prices skyrocketed. Meanwhile, those in the crypto art and gaming space suffered.
Now, theyre looking for alternatives.
It doesnt matter if youre entering Ethereum to buy your firstCryptoKittyor leaving topreserve your wealth: the number two blockchain doesnt scale.
The issue has been ongoing, of course. Still, the latest activity has had dramatic effects on the non-fungible token (NFT) space. One of the most popular games on the Ethereum network,Gods Unchained, had to adjust.
In a blog post on Mar. 16, theywrote:
A global market disruption has led the Ethereum network to become extremely congested. This is not a regular event, and we expect things to normalize after the initial market spike dissipates. Gas prices are at an all-time high, leading transactions to get stuck when users attempted to fuse cards.
The game rewards players with core cards. When a player earns enough cards, they can fuse them and sell them. This feature is part of Gods Unchaineds play to earn initiative. Due to ongoing congestion on Ethereum, however, the team has had to turn the feature off.
Rarible users have also reported issues when buying, selling, and posting tokenized art on the platform. Its cuz all the traders are bogging up the network because the financial world is topsy turvy, one user said. The same user also indicated that cheaper transactions, like those needed for crypto art, either fail, get stuck, or [are] dropped.
While waiting for a more permanent solution, many blockchain-based gaming and art platforms have combined decentralized and centralized technologies.Axie Infinity, another top crypto game, has been following this strategy for some time. The COOAleksander Leonard Larsentold Crypto Briefing that:
When Ethereum is congested, we see a lot less activity on-chain, but to be honest, it is not so important to us. We realized a long time ago that Ethereum does not make much sense for games.
Instead, Axie Infinity secures in-game assets on the Ethereum blockchain. The gameplay is housed off-chain on a centralized server.
Larsen explained that his team is actively looking for a production-ready [layer 2 solution] specialized in games.
Launchedin September 2019, Dapper Labs Flow blockchain set out to solve scalability issues facing the digital collectibles space. The projects CryptoKitties product was so popular in December 2017 that it singlehandedly slowed the entire Ethereum network.
The team introducedFlow Playground earlier this month to help onboard developers and experiment with the blockchain.
Co-creator of CryptoKitties and CTO of Dapper Labs,Dieter Shirley, told Crypto Briefing:
The Flow Playground is our first public incarnation of Flow, and gives developers a preview of what they can expect to see from Flow.
Shirley said that the team is building a blockchain to give developers the tools they wished they had when making CryptoKitties andCheeze Wizards.
For third parties, likeOpenSea, a marketplace for NFTs, the initiative has been a welcome development. As far as Ive seen, said CTO of OpenSea,Alex Atallah, the Playground is the easiest way to deploy a smart contract and share it.
OpenSea was also purpose-built following CryptoKitties popularity. At its peak, Atallah explained that when Ethereum became congested, users had to pay high gas prices. Since then, they have been keeping close tabs on alternatives like Flow.
Attracting one of the largest developer communities away from Ethereum, however, will be no easy task. This divorce is made harder by the fact that Flow is written in different programming languaged called Cadence.
The new programming language means developers would have to rewrite Ethereum smart contracts written in Solidity.
For Devin Finzer, the CEO of OpenSea, this isnt an issue. He told Crypto Briefing that Cadence is pushing the field forward for programming patterns in the asset ownership space.
Others, like Axie Infinitys COO, are pressed for time and need products like Flow to be available immediately.
We are not ruling out Flow at this stage, but I dont see them being ahead of the pack at this time, said Larson. This skepticism is due primarily to the fact that the blockchain has yet to launch fully.
Leaving Ethereum is also difficult for many crypto projects that have established links with thefast-growing DeFi space.
For Axie Infinitys part, many players can easily leverage Uniswap, a DeFi liquidity pool. Users have, for example, created a pool for Axie tokens, called Small Love Potion (SLP). These are the rewards for in-game battles.
Betting on an alternative blockchain like Flow is also a bet that Ethereum 2.0 may never arrive. If it does, it might be too late.Shirley said that though he has a lot of respect for the developers building Ethereum 2.0, he is tired of waiting. He added:
It was two years away when we launched CryptoKitties (two years ago), and it still isnt ready today.
Rumors indicate Phase 0 of Etheruem 2.0 will arrive this year. This first step will usher in a parallel proof-of-stake (PoS) blockchain alongside the current proof-of-work (PoW) mechanism. The transition will reportedly improve security and scalability in the networkput otherwise, a less congested Ethereum.
Beyond that, however, the full completion is still unknown.
See the article here:
It's All Fun and Games Until Ethereum Gets Congested - Crypto Briefing
- How does Ethereum work - Medium [Last Updated On: February 3rd, 2018] [Originally Added On: February 3rd, 2018]
- Ethereum - BTCMANAGER [Last Updated On: February 19th, 2018] [Originally Added On: February 19th, 2018]
- This Giant Infographic Compares Bitcoin, Ethereum, and ... [Last Updated On: February 19th, 2018] [Originally Added On: February 19th, 2018]
- What is Ethereum? | CryptoCompare.com [Last Updated On: February 23rd, 2018] [Originally Added On: February 23rd, 2018]
- The Top 10 Best Ethereum Wallets (2018 Edition) [Last Updated On: February 23rd, 2018] [Originally Added On: February 23rd, 2018]
- Ethereum fixes serious eclipse flaw that could be exploited ... [Last Updated On: March 7th, 2018] [Originally Added On: March 7th, 2018]
- How does Ethereum work, anyway? - Medium [Last Updated On: April 25th, 2018] [Originally Added On: April 25th, 2018]
- Free-Ethereum.com - Free Ether! [Last Updated On: May 31st, 2018] [Originally Added On: May 31st, 2018]
- What is Ethereum? | The Ultimate Beginners' Guide [Last Updated On: June 20th, 2018] [Originally Added On: June 20th, 2018]
- Ethereum Mining Guide for AMD and NVidia GPUs - Windows ... [Last Updated On: June 20th, 2018] [Originally Added On: June 20th, 2018]
- Ethereum: Blockchains, Digital Assets, Smart Contracts ... [Last Updated On: July 16th, 2018] [Originally Added On: July 16th, 2018]
- Ethereum Price - Mobile Friendly Price of Ether [Last Updated On: July 16th, 2018] [Originally Added On: July 16th, 2018]
- Ethereum Soars with over a 2,800% Rally - Coin News Asia [Last Updated On: July 28th, 2018] [Originally Added On: July 28th, 2018]
- Ethereum Co-Founder Joseph Lubin Says Speculators Driving ... [Last Updated On: August 20th, 2018] [Originally Added On: August 20th, 2018]
- Bitcoin and Ethereum: A Look At The Week Ahead [Last Updated On: September 2nd, 2018] [Originally Added On: September 2nd, 2018]
- EthereumPrice - Official Site [Last Updated On: October 3rd, 2018] [Originally Added On: October 3rd, 2018]
- Ethereum Classic Price Analysis: ETC/USD Could Revisit $12 [Last Updated On: October 6th, 2018] [Originally Added On: October 6th, 2018]
- Ethplorer Ethereum tokens explorer and data viewer. Top ... [Last Updated On: October 6th, 2018] [Originally Added On: October 6th, 2018]
- Buy and Sell Ether With The Peer-to-Peer Ethereum ... [Last Updated On: October 6th, 2018] [Originally Added On: October 6th, 2018]
- Ethereum Price - CoinDesk [Last Updated On: October 18th, 2018] [Originally Added On: October 18th, 2018]
- EthereumPrice.org - USD Price, Charts & History [Last Updated On: October 18th, 2018] [Originally Added On: October 18th, 2018]
- Report: Whales Accumulate Ethereum (ETH) En-Masse Amid Bear ... [Last Updated On: December 7th, 2018] [Originally Added On: December 7th, 2018]
- GitHub - ethereum/go-ethereum: Official Go implementation of ... [Last Updated On: December 7th, 2018] [Originally Added On: December 7th, 2018]
- Ethererum Crypto-Economics Index Real-time Price Charts and ... [Last Updated On: December 7th, 2018] [Originally Added On: December 7th, 2018]
- Ethereum Definition | Investopedia [Last Updated On: December 7th, 2018] [Originally Added On: December 7th, 2018]
- What is Ethereum Gas: Step-By-Step Guide - Blockgeeks [Last Updated On: December 19th, 2018] [Originally Added On: December 19th, 2018]
- Ethereum Price Analysis: ETH Could Extend Losses Below $80 ... [Last Updated On: December 19th, 2018] [Originally Added On: December 19th, 2018]
- Ethereum Price Analysis: ETH Could Turn Bullish Above $90 ... [Last Updated On: December 19th, 2018] [Originally Added On: December 19th, 2018]
- Bitcoin, Ethereum, Ripple Prices Surge Higher; FOMO Santa Rally? [Last Updated On: December 26th, 2018] [Originally Added On: December 26th, 2018]
- Ethereum Co-Founder Calls the Cryptobottom of 2018 ... [Last Updated On: December 26th, 2018] [Originally Added On: December 26th, 2018]
- Part 1: Ethereum vs NEO Which blockchain will provide ... [Last Updated On: December 31st, 2018] [Originally Added On: December 31st, 2018]
- Ethereum Price Analysis: ETH Corrects Sharply, Can It Hold ... [Last Updated On: December 31st, 2018] [Originally Added On: December 31st, 2018]
- Ethereum: JPMorgan, Microsoft, Banks Form ... - fortune.com [Last Updated On: January 3rd, 2019] [Originally Added On: January 3rd, 2019]
- Ethereum News | Ethereum News today | Latest Ethereum News [Last Updated On: January 3rd, 2019] [Originally Added On: January 3rd, 2019]
- Ethereum (ETH) - Price, Chart, Info | CryptoSlate [Last Updated On: January 3rd, 2019] [Originally Added On: January 3rd, 2019]
- Ethereum Cash Pro [Last Updated On: January 3rd, 2019] [Originally Added On: January 3rd, 2019]
- What Is Ethereum? Here's What You Need To Know [Last Updated On: January 3rd, 2019] [Originally Added On: January 3rd, 2019]
- What is Ethereum? | The Ultimate Beginners Guide [Last Updated On: January 27th, 2019] [Originally Added On: January 27th, 2019]
- Ethereum Classic - A smarter blockchain that takes digital ... [Last Updated On: January 27th, 2019] [Originally Added On: January 27th, 2019]
- Ethereum Price Analysis: ETH Relatively Muted, Next Move ... [Last Updated On: January 27th, 2019] [Originally Added On: January 27th, 2019]
- Buy and Sell Ether With The Peer-to-Peer Ethereum Marketplace ... [Last Updated On: January 27th, 2019] [Originally Added On: January 27th, 2019]
- What is Ethereum? | The Ultimate Beginners' Guide - CoinCentral [Last Updated On: January 30th, 2019] [Originally Added On: January 30th, 2019]
- Ethereum Price Analysis: ETH Breaks Down, Turned Sell on ... [Last Updated On: January 30th, 2019] [Originally Added On: January 30th, 2019]
- Ethereum Price Analysis: ETH Remains Sell Near $128 ... [Last Updated On: March 6th, 2019] [Originally Added On: March 6th, 2019]
- Ethereum Price Analysis: ETH Remains Sell Near $128, Target ... [Last Updated On: March 11th, 2019] [Originally Added On: March 11th, 2019]
- Create a cryptocurrency contract in Ethereum [Last Updated On: March 11th, 2019] [Originally Added On: March 11th, 2019]
- Ethereum Price Analysis: ETH Buyers Wont Give Up Easily ... [Last Updated On: March 11th, 2019] [Originally Added On: March 11th, 2019]
- Buy and Sell ETH With The Peer-to-Peer Ethereum Marketplace ... [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum Technical Analysis - FXStreet [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum - Investopedia [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum - reddit [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum vs Bitcoin: The Battle for the Crypto Throne - Coindoo [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum Price Analysis: ETH Could Make a Sustained Move ... [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum Project [Last Updated On: March 18th, 2019] [Originally Added On: March 18th, 2019]
- Ethereum - Official Site [Last Updated On: April 20th, 2019] [Originally Added On: April 20th, 2019]
- Ethereum (ETH) Price Starts Much Awaited Rebound To $170 [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Ethereum Price Analysis: ETH Corrects But More Upsides Likely ... [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Ethereum Price Analysis: ETH Primed For Additional Losses ... [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Ethereum Won't Fail: Joseph Lubin - ccn.com [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Ethereum (ETH) Price Starts Fresh Increase: Bitcoin Leading ... [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Bitcoin Booming As Ethereum, Ripple's XRP, EOS And Litecoin ... [Last Updated On: May 9th, 2019] [Originally Added On: May 9th, 2019]
- Ethereum Bounty Program [Last Updated On: May 30th, 2019] [Originally Added On: May 30th, 2019]
- Dark Horses of dApps: 6 Blockchains With Ethereum In Their Sights - Crypto Briefing [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Latin Americans get two new ways to trade Bitcoin, Ethereum, and more - Decrypt [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Ethereums Bearish Wave Count Outlined by Cryptocurrency Analyst - BeInCrypto [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- XRPs Third Quarter Inflation Rate Was Lower Than Ethereum (ETH) and Litecoin (LTC) - SludgeFeed [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Ethereum (ETH) Dives To $170, Is $160 Next Bear Target? - newsBTC [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Thomson Reuters: Bringing Smart Contracts to the Mainstream With Ethereum & Chainlink - Blockonomi [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Crypto Analyst: Ethereum Has Bottomed, Expected To See Extended Rally - newsBTC [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- WATCH: MyCrypto CEO Taylor Monahan on Crypto Adoption and Ethereum - Coindesk [Last Updated On: October 21st, 2019] [Originally Added On: October 21st, 2019]
- Cryptocurrency market update: Kicks of a dying horse as Bitcoin, Ethereum and Ripple remain suppressed - FXStreet [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin - American Wrap - 22 October - FXStreet [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereums gas prices show an unusual surge when the Asian market sleeps - AMBCrypto [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Whale Consolidates $88M Worth of Ethereum in Two Transactions - BeInCrypto [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereum Falls 10% In Selloff - Yahoo Finance [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- TRON Joins Bitcoin And Ethereum On Opera Browser - Crypto Briefing [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereum (ETH) Rebound Faces Major Hurdle Near $180 - newsBTC [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereum Breakout Above $360 Means Skys the Limit, Believes Cryptocurrency Analyst - BeInCrypto [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereum Futures: The Next Big Derivative to Hit the Market? - Cointelegraph [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]
- Ethereum and Stellars Lumen Daily Tech Analysis 23/10/19 - Yahoo Finance [Last Updated On: October 24th, 2019] [Originally Added On: October 24th, 2019]