The gambling game once again took control of the Ethereum network, accumulating a new jackpot of over $ 7 million and growing.
The smart contract for a FOMO gaming game is again taking the place of the Ethereum network. As of 04:00 UTC, the game known as LastWinner absorbed about 20% of the gas and the consumption of gas had increased beyond 36.41% three hours later.
Network congestion pushed the fee for a typical ETH transaction above $ 0.50, from about $ 0.01 during low-activity periods. It is not known how many sessions the game could have. The increase in activity follows Asian daytime hours.
According to the comments on Etherscan, the new game started with 40% of the previous round of prize money, according to the rules of the game. In addition to the main rule of being the last person or team to buy a ticket, there are different strategies depending on the selfishness or cooperation: Snake, Whale, Bull or Bear.
Within hours, around 8:00 UTC, the jackpot in the game had grown from $ 6.5 million to $ 7.04 million in Ethereum. The keen interest in gaming comes at a time when ETH prices remain depressed below $ 300, giving game organizers the chance to accumulate more ETHs and probably expect better market prices.
Part of Eth is paid in winnings or dividends during the game itself. LastWinner is a game of chance that simulates an exit scam, in which a large part of the winnings is redistributed. The game is considered extremely risky (though not inherently unfair) and a matter of personal choice. However, it has proven to be extremely active and engaging, causing almost weekly congestions and testing of the Ethereum network. The use of gas increases steadily until each round of the game runs out.
No one can know how many FOMO rounds there will be, but this raises the serious question about how many of the distributed Ethereum apps can handle. Even an app with about 40% of gas consumption significantly increases the cost of using the Ethereum network for all other participants.
ETH prices have now risen to $ 301.00, recovering from lows of about $ 260. ETH trading is more active than ever and ICO projects try to roll out their products, but the use of ETH network has become a regular obstacle to the operation of the network.