Fairwin’s collapse eases the pressure on Ethereum‘s developers that are working on Ethereum scaling.
Fairwin, a gambling scheme built on the Ethereum blockchain, was accused of being a Ponzi scheme. The game has freed up space on the network easing concerns over its scalability.
Ethereum’s scalability problem
Ethereum has had a long-standing problem with its scalability. The network has been congested for quite some time, and traders have to wait for a long time to get their transactions verified. This problem was worsened by the presence of a myriad of dApps on the network.
Ethereum’s co-founder Vitalik Butterin acknowledged the problem when he stated that the blockchain was “almost full.” In fact, the most significant reason for Ethereum 2.0’s development is to fix the scaling issue. So far, many options are being considered included the sharding as well as using various programs to introduce scalability to the network.
Fairwin was using too much gas
Fairwin was consuming a large fraction of the network’s resources. This made the system incredibly choppy, and the transactions became very slow, with the trade fee high. In response, the Ethereum developers worked restlessly to increase network capacity. As a result, they were able to raise around 25 percent capacity.
Scammed but at least Ethereum network is relieved
Things changed on Monday when Fairwin disappeared while around twenty-five thousand dollars ($25k) vanished in a moment. Luckily there was a silver lining to the whole scheme. The move has now freed over fourteen percent of the space on the network. This will give Ethereum developers some leeway on their plans.
Fairwin spent over fifty percent of all the gas of the network. It was too high even when compared to stablecoin Tether that only spent twenty-eight percent of the gas.