CryptoKitties Crushes the Ethereum Blockchain
Say it isn’t so!!
Just when we finally see unconfirmed transactions on the Bitcoin Blockchain settling in for a long winter nap, we get Ethereum Blockchain Congestion.
So what are CryptoKitties any way?
According to their website:
In CryptoKitties, users collect and breed oh-so-adorable creatures that we call CryptoKitties! Each kitty has a unique genome that defines its appearance and traits. Players can breed their kitties to create new furry friends and unlock rare cattributes.
CryptoKitties is one of the world’s first blockchain games. ‘Blockchain’ is the technology that makes things like Bitcoin possible. While CryptoKitties isn’t a digital currency, it does offer the same security: each CryptoKitty is one-of-a-kind and 100% owned by you. It cannot be replicated, taken away, or destroyed.
People have spent over $1M buying virtual breeding cats on the Ethereum blockchain
CryptoKitties is like an digital version of Pokemon cards or Beanie Babies but sits atop of the Ethereum blockchain.
This baby went viral in a matter of days!
This blockchain application was developed by a Canadian and USA design studio, AxiomZen It is like the ‘to die for’ faddish game which uses cryptocurrency.
The players are spending an insane amount of cryptocurrency and so far about $5M has been transacted and nearly 100k kitties have been sold according to their twitter page. These kitties sell for about 50 Ethers which right now today is around $23,100. The FIRST or “Genesis” Kittie sold for a record breaking 246 ETH or about $113,000!!
Right now it will cost you about .03 ETH, or $12 to buy the least expensive kitten in the game.
Crazy, right? I know!
We know the constant bickering and debating going on about the Bitcoin blockchain in terms of scability, congestion, high fees, and blocksize. But this phenomenon is a test of the backbone and scalability of the Ethereum Blockchain.
Transactions (buying and selling kittiens) are taking forever to process. Ethereum — Welcome to the REAL WORLD!
Fortunately, CryptoKitties quickly tackled the problem by making it less attractive for “slick willy” bad players from the game. Thus they increased the kittie “birthing fee” to .002 ETH. This cost is paid to the block chain miners that confirm the Ether transaction.
🚨🚨🚨🚨 Due to network congestion, we are increasing the birthing fee from 0.001 ETH to 0.002 ETH. This will ensure your kittens are born on time! The extra is needed to incentivize miners to add birthing txs to the chain. Long-term solution will be explored very soon! 🚨🚨🚨🚨
— CryptoKitties (@CryptoKitties) December 3, 2017
But don’t you think they are oh so cute!
Now let us see what Vitalik Buterin and the Ethereum Blockchain are going to do to ensure that they are indeed ready for an onslaught of transaction intensive Dapps slamming the crap out of their blockchain.
Until Next Time …
Faith Sloan “QueenWiki” “CryptoQueen”
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