ICO Delayed by Ethereum's CryptoKitties Congestion

The viral CryptoKitties ethereum app has sparked growing congestion on the network, a state of affairs that has spurred one startup to briefly postpone its planned initial coin offering (ICO).

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The token sale for SophiaTX was originally planned to start on Dec. 5. SophiaTX, according to its website, is developing a blockchain platform for business-to-business use cases.

Yet the activity around CryptoKitties – an ethereum-based app that uses tokens to represent digital cats that can be traded, exchanged or bred to create more e-pets – has effectively clogged up the blockchain. And while some are calling it a "killer app" for ethereum, the resulting interest is resulting in potentially longer wait times for would-be transactors, including those trying to participate in token sales that accept ethers, the cryptocurrency of the ethereum network.

As a result, the SophiaTX team announced today, they will hold the ICO's start until this Thursday, Dec. 7.

"We have decided to delay the [token generation event] start by 48 hours because a very large number of participants will use ETH during and it would be a major disappointment if their attempted contributions wouldn't be processed timely and that would result in a significant backlog of transactions with very long waiting times," they said in a statement.

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It remains to be seen whether the interest around CryptoKitties will lead to similar decisions. Statistics from ETHGasStation.info, a network data provider, suggests that the network congestion has eased somewhat compared to yesterday.

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Posted from my blog with SteemPress : http://bitcoin-bug.com/2017/12/05/ico-delayed-ethereums-cryptokitties-congestion/

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