Ethereum Network Congestion Doubles Gas Fees as Game dApps Capture $7.5M in 24 Hours

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FrankNBeans
Posts: 144
Joined: Thu Mar 15, 2018 5:49 pm

Ethereum Network Congestion Doubles Gas Fees as Game dApps Capture $7.5M in 24 Hours

Sun May 20, 2018 9:01 pm

The Ethereum distributed app ecosystem is currently experiencing explosive growth, with Etherueum dApps capturing over $7.5 million USD across 500 different applications and 11,000 users in the last 24 hours. While increased use of the Ethereum blockchain is arguably a good thing, however, the surge in transaction throughput has caused congestion, doubling Gas fees.

According to distributed app tracking website Dapp Insight, more than 10,000 ETH has been transacted over Ethereum-based dApps over the last day, consuming more than 14 million GAS. The dramatic increase in dApp use mirrors the impact of CryptoKitties, an Ethereum-based dApp that caused significant ETH transaction delays in December 2017.


The dramatic rise in GAS fees is attributed to the viral popularity of a slew of games emerging from online forums. While not as damaging to Ethereum transaction throughput as CryptoKitties, these new dApps have amassed over 26,000 transactions in 24 hours, causing GAS costs to double in price to $0.02


https://cryptoslate.com/ethereum-networ ... -24-hours/
Brasch1
Posts: 21
Joined: Sun Jun 10, 2018 9:46 pm

Re: Ethereum Network Congestion Doubles Gas Fees as Game dApps Capture $7.5M in 24 Hours

Mon Jun 11, 2018 12:41 am

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