CryptoKitties Becomes Largest Ethereum-Based Decentralized Application
Dec 05, 2017 Posted / 7380 Views
If blockchain technology in itself is mesmerizing and mystical to you, here is some new piece of information, which will leave you spellbound. Few days back a virtual game running on Ethereum blockchain was launched. Now this unique and amusing game, which is named as Cryptokitties, has broken all records by becoming one of the most viral and up roaring obsession right now among blockchain enthusiasts.
The game built by AxiomZen has become a phenomenon of its kind in a very short span, as people are spending a huge amount of money on it. The reports so far by various websites suggest that around $1.3 million has been involved in the transactions. Moreover, this craze has been raising congestion on the Ethereum network and clogging the payments process. Right now, Cryptokitties is the most hectic address on the blockchain, which is engaged in 12% of the total transactions.
Cryptokitties is built on the ethereum blockchain and players spend ethers on breeding and trading of the virtual kittens. The game revolves around breedable kittens, which you collect, and stockpile. Each cat is a unique virtual creature and is owned by the user. Moreover, the kittens created by the user cannot be duplicated, scammed, or damaged.
Multiple kittens have been created and sold on this platform, the highest selling rate being $113,000 approx. that accounts for ~246 ETH for a kitten named “Genesis”. Though there has been instability in the prices, and the least pricey kitten is available for $12.
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Interestingly, people who were arguing about the substantial use of the blockchain as an asset are using it to acquire the same, which has negligible tangible utility. Nonetheless, it is an amazing way to attract beginners to ethereum. Unlike the Pokemon game where the owner does not necessarily have the ownership of the creatures and the centralized control remains in the hands of the makers, here the rare virtual kitten created by you will be your asset and will thrive on ethereum blockchain forever.
AxiomZen has 5 smart contracts to engage users with Cryptokittens, which can be accessed through their ethereum address. The easiest way to achieve it is by the means of the Chrome extension MetaMask. This confers you with the facility to send and receive Ethereum straight away in your browser. Then the user is directed to the CryptoKitties website. The interface of this website is fundamentally an interface to communicate with the smart contracts written by the AxiomZen. Here you can purchase, sell and breed kittens
The amazing response that CryptoKitties has got from the blockchain users and the jamming of the ethereum network poses a challenge to the ethereum blockchain. Much has been debated that a decentralized platform can have more potential application rather than the centralized information model. But who might have thought about the immutable kittens, which can profess competition to its owners? Nonetheless, no one has so far created structured platforms to scale ethereum in a better way. There are some concerns about the blockchain, which urgently needs to be addressed; otherwise it will dispute its own existence.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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