The Ethereum network presents congestion after the call for FCoin's start-up offers

The launch of the Chinese Stock Market Growth Project FCoin (or GPM) generated a special, and apparently indefinite, case of congestion in the Ethereum network, due to a token list contest. establish a ranking of accumulated deposits.

The contest promoted hundreds of small chip projects ERC20 to be part of the ranking, being one that has accumulated more deposits than would be in the top positions; therefore, this caused congestion in the network, due to an overflow of the amount of simultaneous transfers. Even some of these projects coordinate these deals with the price of "gasoline" so that deposits are faster than their followers commented the media.

Other sources indicate that the situation worsened when FCoin announced that it would list the tokens with more owners, thereby encouraging some token administrators, in their eagerness to be listed by the initiative, to perform "air drops" – defined as a process in which a cryptocurrency company, distributes tokens free of charge to user portfolios in a blockchain.

In fact, the minimum fees of an Ethereum commission estimator, the ETH gas station, have gone from $ 0.01 to 0.5- the last 24 hours. In this regard, " transaction tax fell by up to $ 1, which would have meant a 10, 000% increase in rates for all Ethereum transfers ", according to estimates. 19659002] For its part, the competition guide, quoted on the official website of FCoin GPM, does not specify a precise date of completion, which means that the congestion could last as long as the projects continue to deposit in the direction of the Chinese initiative. It goes without saying that transfers made for other purposes can be made, which is not guaranteed, that is how long they will last.

Many users in the Ethereum community have criticized the movement of the company for social networks networks, denouncing the excessive time that take transactions.

Even so, if the process continues, it could put pressure on the functioning of the scalability issue, as well as put into perspective the reaction of the Ethereum developers. on this subject.