TGE Postponed! CryptoKitties Clogged Ethereum Network

By Guest Author Dec 6, 2017 4:17 AM EST

This story was shared from this site

Jaroslav Kacina, CEO SophiaTX

I never thought I’d say this, but, due to a digital kittens gaming application clogging the Ethereum Network (yes really) the SophiaTX Token Generation Event will be postponed for 48 hours and rescheduled for Thursday, December 7th, 2017 at 2 PM UTC (Coordinated Universal Time).

First of all, this unfortunate circumstance is beyond our control and I am sorry for any inconvenience this may cause to our community! The team here at SophiaTX is working around the clock to ensure a successful TGE launch, however, merely hours before the start time, the entire Ethereum network slowed down and brought issues due to the success of a gaming application running on their platform called CryptoKitties.

The network’s performance reached a critical point, slowing down confirmations and creating a major backlog of transactions which impact everyone on the network.

”The recent incident demonstrates why we have chosen to build SophiaTX as a proprietary blockchain technology. Businesses require sufficient speed, security, and features that are needed for a mainstream adoption by businesses, currently not provided by either Bitcoin, Ethereum and others.”

We have decided to delay the TGE 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. This is particularly valid, since our TGE is time sensitive, with the lowest price being in the first round and a 10% increase for subsequent rounds thereafter.

To ensure fairness and equal opportunities for all participants regardless of which currency they use (BTC, ETH or DCT) we have rescheduled our TGE by 48 hours later, hoping the backlog will decrease. All other aspects, other than the start date of the TGE will remain unchanged, only the start and end date is changed.

For those interested in our project, we suggest watching Coin Interview published yesterday and all other info provided in in our whitepaper on sophiatx.com

Who knew that adorable CryptoKitties could cause a major traffic jam? I guess that’s why I’m more of a dog person! 🙂

I hope to see you all this Thursday at 2 PM (UTC)! Until then, have a great day and keep a close watch on SophiaTX, we will have some more big announcements coming soon!

The post TGE Postponed! CryptoKitties Clogged Ethereum Network appeared first on NEWSBTC.

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