Top 4 rated ICO’s

Stunning approach to stabilizing the cryptocurrency price
4 /5
  • Start date: 04-01-2018
  • End date: 14-03-2018
  • Accepted:
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Empowering the games community
4 /5
  • Start date: 20-03-2018
  • End date: 10-04-2018
  • Accepted:
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Decentralized platform for spare GPU owners
3.5 /5
  • Start date: 18-02-2018
  • End date: 28-04-2018
  • Accepted:
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Disrupting the electricity market
4.5 /5
  • Start date: 20-02-2018
  • End date: 30-04-2018
  • Accepted:
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ICO clogs Ethereum network, delays another

Posted Dec 11, 2017

Users of the Ethereum network were flustered Wednesday by an unusual delay in transactions confirmation. This was linked to a high traffic due to the Digitalkitties crowdsale.

This is not the first time the network, famed for its versatility has had congestion, however, the Wednesday’s clog caused another company, SophiaTX whose ICO was scheduled for December 5 to have it postponed.

DigitalKitties, the company whose ICO considerably slowed the Ethereum due to high demand sold their digital gaming token via the network. The gaming platform enables gamers to own digital cats as pet. The platform is so popular that the demand for their gaming app delayed transactions for as long as 36 hours. Some ETH users were concerned about gas costs thinking the issue was due to insufficient gas or transaction fees.

Taking to their blog to announced reasons for the postponement of the sale of their token SPHTX, SophiaTX the company whose ICO was disrupted due to the network congestion said that the postponement was due to unavoidable circumstances beyond their control.

Despite the fact that Ethereum isn’t the only digital currency meant for the token purchase, the management of the company said that Sophia TX decided that a substantial number of prospective investors would be making payments via ETH and so the need to ensure that all their investors were afforded level playing field since the firm had promised incentives for early buyers of their token.

The CEO of SophiaTX Jaroslav Kacina whose company is selling 500 million SPHTX tokens in the crowdsale said that the Ethereum network disruption validates their concept of building a platform on the blockchain independent of existing networks such as Ethereum and Bitcoin to give clients added layer of security and speed. The 500 million SPHTX would be applied towards innovation, research and development of a blockchain platform for enterprise that integrates SAP, ERP and CRM.

The delay may well be a blessing in disguise to SophiaTX. Who would fault the stance that businesses today demand speed and that, in all transactions?