Launched a few days ago, CryptoKitties is essentially like an digital edition of Pokemon posters but based on the Ethereum blockchain. And like most viral awareness that catch on in the tech macrocosm, it’s blowing up fast.
Built by Vancouver and San Francisco-based intend studio AxiomZen, video games is the latest fad in the world of cryptocurrency and perhaps soon tech in general.
People are spending a crazy extent of real money on the game. So far about $1.3 M has been transacted, with several kittens selling for~ 50 ETH( around $23,000) and the “genesis” kitten being sold for a record~ 246 ETH( around $113,000 ). This third party site roads the largest obtains made to date on video games. And like any good viral excitement prices are rising and fluctuating quickly. Right now it will cost you about. 03 ETH, or $12 to buy the least expensive kitten in the game.
So now we have people working Ether, an asset with arguably little definite practicality- to purchase an resource with unarguably zero tangible utility. Welcome to the internet in 2017.
In all seriousness, it’s a bit suggestive of the beanie newborn vogue where people were compensating preposterous amounts of fund for stuffed animals. But if the esteem continues to increase these beings may be able to make a return by reselling or engendering their uncommon kittens, or they’ll be stuck bracing the virtual cryptographic keys to a virtual uncommon kitten when world markets hurtles in a few epoch, like eventually happens between beanie babies.
There are a few cool concepts about the game though, and putting aside these evaluations incongruity it’s actually a cool action for apprentices to interact with the Ethereum blockchain.
First off, it’s important understood that since it’s played on the Ethereum blockchain there’s no primary entity managing the game. This necessitates customers literally own their kittens. Unlike frisking Neopets where everything was stored on a center database and your domesticated was removed where the business shut down, CryptoKitties is decentralized and will live forever on the Ethereum blockchain.
The game is run via a create of five Ethereum smart contracts written by AxiomZen, and users interact with it via their own Ethereum address. Right now the easiest method to do that is by using the Chrome extension MetaMask which gives you the ability to send and receive Ethereum instantly in your browser. You then would steer to the CryptoKitties locate which is essentially an boundary to interact with their smart contracts so you can buy realize and spawned kittens.
Right now about 15% of all Ethereum network traffic is dedicated to the game, meeting it the most popular smart contract on the network. For remark, number two with about 8% of system events is EtherDelta, the popular decentralized token exchange.
This traffic is doing it hard to play CryptoKitties, and a great deal of business( like buying and exchanging “cat-o-nine-tails”) are taking longer than customary to manage and involving numerous attempts.