It seems that there is a token that is consuming over 10% of Ethereum’s gas supply. According to the Reddit user kevinsimper, there is a contract that has several pending transactions.
According to another user that answered the thread, commented that it is related to a contract for ‘Omniscience Dedication Financial.’ Another Redditor explained that on the internet there is no information about it.
An article on the mater explained that there is a company known as Omniscience Capital but there is no information about blockchain technology or smart contracts on their official site.
The website EthGasStation shows that the contract is using the largest amount of Gas on the network. Although the number of gas used is less than what it was a few hours ago it remains very high.
Gas is used on the Ethereum platform in order to process transactions. The largest the amount of gas used in a transaction, the more expensive it becomes. When there are several transactions being processed at the same time in the network, gas becomes more costly and fees rise.
The contract is also related to an unknown user that has transacted only two different tokens, ODF and CKC. Nevertheless, there is no information at all about ODF. CKC, instead, has only 15 holders.
The question that many users are asking is: what is going on with this smart contract? A user on Reddit informed that there are several tokens that tend to do that. In general, the coins are ICOs or on chain exchanges that have ‘fee mining.’
Another rumor that was circulating might be related to an EOS strategy that aims at increasing Ethereum’s network fees paid by users and transaction times. This would allow EOS to gain more users in the future, but there is no information that can confirm this.
At the time of writing this article, there is no more information about this smart contract or who is behind it.