Virtual Sale of Cocaine Has Invaded the Ethereum Network
The 4chan community built DApps on the ETH network and managed to realize over 10,000 transactions in just a few days.
The online game dubbed Ether Cartel has as a concept the “virtual sale of cocaine and breed shrimp eggs“. Over the last week, the transfer of more than 33 ETHs has been identified, while over the past 24 hours, the platform has recorded over 2,500 Ethereum transactions.
“Ether Cartel is an idle game on the blockchain based on “Ether Shrimp Farm”. The more kilos you have, the more drugs they produce (each kilo produces at a rate of 1 per day). Collect more kilos with your drugs to multiply your production, or cash them out for Ethereum!”
The game runs on the Metamask protocol. It’s not considered as an illegal activity in the real life, because the team owns a statement of responsibility that defines the purpose of the game. Ether Shrimp Farm has a similar concept, where users can earn 0.01 Ether if they reach the target or reinvest the winnings in the future activities.
30,000 transactions were recorded in the last 24 hours
Other virtual games dedicated to farm activities were promoted on the 4chan forum. These recorded around 30,000 transactions in the last 24 hours.
“Are these eth ponzi games not the most pure form of business possible? Business model followed with logical perfection, virtual money generating machines set up and forgettable possibly able to be used by anyone for the foreseeable future long after youre dead. No real cost. No teams needed, no people needed,” claimed a 4chan user.
The Ponzi remark isn’t accidentally specified. In most virtual gaming, users are given the promise of getting a 20% return on the profits of a new member invited by the user.
“If the 2nd largest cryptocurrency CAN be destroyed by cryptokitties and shrimp farms then it isn’t ready for prime time and we have a long way to go before mass adoption. These games may seem stupid, but they serve as valuable stress tests for the ecosystem as a whole, and show where the weak points lie,” remarked a Reddit user.
By the phrase “weak points“, the user refers to the scalability of the Ethereum network, which begins to experience technical problems. According to Vitalik Buterin, a new scaling solution will be released to allow a larger number of transactions.
You may be interested
Huobi Now Supports Waves TradingAnca Faget - June 21, 2018
Today, the team behind Waves announced yet another important exchange partnership for the WAVES token. One of the top three…
Amsterdam Airport Installed ATM For Euro-to-Crypto ExchangeAnca Faget - June 21, 2018
Schipol, Amsterdam’s international airport, has set up a cryptocurrency ATM that lets travelers exchange their euros for Bitcoin or Ethereum.…
Weiss Ratings Claims Bitfinex May be Using Traders’ Tokens For VotingAnca Faget - June 21, 2018
Bitfinex, a popular crypto exchange and main EOS block producer, is suspected of using token deposits made by its customers…