The success of GameFi is because it allows video game enthusiasts to earn digital assets while having fun. With many cryptocurrency enthusiasts in their ranks, the craze for blockchain-based Play-to-Earn games has exploded. This growing popularity can, however, cause disruption to the networks hosting these games. Polygon has just paid the price with Sunflower Farmers. Explanations.
An air of deja vu with CryptoKitties on Ethereum
Sunflower Farmers is a game where players have the opportunity to earn tokens by planting and harvesting crops. Behind this seemingly simple concept, the developers of the game have managed to create a particularly captivating experience. The success of Sunflower Farmers has resulted in such use of the network that it has pushed transaction prices on Polygon to all-time highs. The blockchain that hosts the game now displays costs seven times higher than at the end of December according to the PolygonScan data tracker.
Turn-of-the-game transactions represent approximately 70% of all gas used on Polygon. This price surge is reminiscent of the setbacks encountered by Ethereum users in 2017, some time after the release of CryptoKitties. The success of the game was accompanied bya strong demand which led to the crash of the network. A few years later, Ethereum is still criticized for high gas costs which are only the result of increased use of the network. Now it looks like Polygon is heading to the same destination with a trigger named Sunflower Farmers.
An almost inevitable problem for blockchains alternatives to Ethereum
Scaling issues on Ethereum have spawned a slew of alternative networks and technologies. This is particularly the case with Polygon PoS, Solana, Arbitrum and Optimism which attempt to offer lower transaction costs. However, they might also experience scaling issues as their use grows. Along with this use, transaction fees will increase on these networks. These will all end up being faced with this reality as crypto-investor Aaron Brown has indicated.
” This type of thing is routine, although it is on a much larger scale than the previous incidents. It is resolved by design changes, especially regarding pricing. Many crypto projects have lowered the cost of their services in hopes of quickly attracting users to build network advantages. The hope is that the increased usage will attract resources for an upgrade to meet the additional demand. But if demand skyrockets overnight from an unexpected source, you get bottlenecks ”, did he declare.
Polygon eventually had to make adjustments to eliminate the spambots that clog the networks. Indeed, some blockchain developers have held that these were responsible for the Sunflower debacle.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so that you don’t miss any Cointribune essentials!
Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 in some crypto only increased my enthusiasm. I therefore resolved to study and understand blockchain and its many uses and to relay information relating to this ecosystem with my pen.