Ethereum Slides as Network Backlog Points to Growing Pains
- Initial coin offerings seen causing bottleneck in the network
- Bitfinex, ShapeShift exchanges halt ethereum transactions
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Ether, the virtual currency based on the ethereum blockchain, might be getting too popular for its own good.
The cryptocurrency slumped after congestion on its network slowed transactions, adding to concerns the novel combination of decentralized computing and cryptography hasn’t reached the level of maturity needed to go mainstream even as a growing cohort of investors clamor for access to the digital tokens.