Bitcoin Chaser – May 28, 2021
One of our favourite online casinos, CasinoFair, has been put on a break by their mother company. We’re sad to see them go, but everyone needs a vacation. Don’t worry, CasinoFair will be back to our screens soon enough.
Why is CasinoFair stepping back? Basically, it all comes down to congestion in the Ethereum network. This is a big deal for FunFair, who powers the casino. That’s because CasinoFair operates off Ethereum Smart Contracts. If you’ve played at CasinoFair you’ll know that the platform trades in its own original currency: the FUN token. But, it’s the Ethereum Smart Contract that really runs the show.
CasinoFair is powered entirely by blockchain. In fact, it was one of the first brands to go live on FunFair’s blockchain gambling technology. There are plenty of benefits to this model. All of the games at CasinoFair are developed in-house, which makes them totally provably fair. However, as a result of the Ethereum network congestion, it’s virtually impossible for CasinoFair to run their games in their current format.
Okay, but what does this all mean? The Ethereum congestion is pretty simple to understand. One of the issues that blockchains are facing today is scalability. In short, the issue is a bit like a traffic jam. When Ethereum surges in popularity, more transactions are being sent through the network. As a result, the network becomes congested. This can result in higher fees and slower transaction times – it’s not ideal!
CasinoFair hopes to be back soon, bigger and better than ever before. The team has also reminded players that they can still access their digital wallet, just log in as per usual. It’s all above board, and your wallet is still totally in your control. In fact, players can feel free to keep their funds in their CasinoFair wallet as long as they like. Alternatively, you can move them elsewhere.
CasinoFair will be back, so watch this space! If you want to keep an eye on their progress, follow CasinoFair via FunFair on Discord or Twitter.