The Ethereum token you've never heard of is Hogging 10% of the network's gas


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A Reddit user has complained that a virtually unknown token is consuming a large amount of Ethereum gas supplies.

Gas is a measure of the computational work necessary to perform a certain transaction on the Ethereum network. Different smart contracts have different requirements. It is not exactly the same as a transaction tax, but it can be seen as such in terms of economy – when more gas is required, a transaction is, therefore, more expensive. When many transactions are executed at the same time, the resources of the network are therefore more scarce and the gas becomes more expensive.

A website dedicated to monitoring the largest gas pigs in Ethereum confirms that this contract currently uses the largest number of gases on the network.

The problem is that Omniscience Dedication Financial is essentially an unknown quantity. A Mumbai company called Omniscience Capital is found when looking for the term, but they do not mention the blockchain products on their site.

What is happening here?

Nothing of value is returned on Bing or Google. Whoever they are, they are busy, having conducted more than 72,000 transactions within the contract at the time of writing. ODF tokens are moving, but it is not clear what they do, for who they are or why they exist. The contract creator, also unknown, has operated mainly in two tokens: ODF and CKC, none of which is assigned a value on the Venerable Etherscan site. CKC has only 15 holders in total.

The ODF token is not currently on the market on EtherDelta, which typically lists any tokens. If there were any requests for the token, it would be negotiated there, of course.

All this raises the question: what is it? What is happening here? Soon we will be surprised by a new "financial" token with some important use cases affecting the market and have thousands of owners? Is this the work of a fund or company that works strictly for its clients?

The nature of the Ethereum blockchain public is that anyone can create and launch a token if they wish, as long as they are willing to pay for the calculation used. In the case of ODF, they seem to have no problem paying for gas, to the detriment of some users everyday. CCN will check the situation and report as more details will be available on the situation.

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