Have you always dreamed of adopting a pet? Now, thanks to advanced cryptocurrency technology, you can adopt a virtual cat of any breed. You can even create a new cat breed! Gathering a massive group of kittens can become your future. Meet CryptoKitties – The virtual kittens who put the blockchain on their paws.
Recently, there is much talk of the revolution that could represent blockchain in the world, especially at the financial level. Apart from Bitcoin, one of the leading players is Ethereum, a kind of central network on which it’s possible to base applications and smart contracts. So, the main thing that is so exciting about Ethereum is that it can change the entire banking system.
CryptoKitties: A brief introduction
If you haven’t heard of CryptoKitties yet, now you have the opportunity to learn a bit about the topic. Apparently, an idea of tiny, virtual kitties related to the universe of blockchain and cryptocurrencies, has become a phenomenon breaking all over the world. CriptoKitties was developed by the American-Canadian AxiomZen studio and launched at November 28, 2017. The app uses the Ethereum blockchain network. On this game, which is a mixture of Tamagotchi and Pokemon, the user has to collect virtual cats. These cats, locked in the form of animated cartoons, can be then sold or purchased. Each transaction is secured by the blockchain, allowing players to acquire ownership of the kitty. It has already generated several million dollars, and it has spread through more than 15% of all of the Ethereum network transactions devoted to user exchanges. It’s completely insane!
The principle of the game is to raise digital kittens. Each cat is different and has unique characteristics. If someone buys such a creature, he becomes 100% owner of it. Virtual kitty can’t be copied or destroyed. The logic of the game has been pushed extremely far since each cat has a different genetic sequence contained in a 256-bit genome. Users can buy, sell or exchange CriptoKitties in the same way as a traditional collector’s item or a cryptocurrency. Purchases are fully protected, and the property is acquired for life (because of the decentralized nature of blockchain) as if you were storing cryptocurrency at your personal wallet.
Why is this idea so amazing?
The cute and colourful universe of the CryptoKitties application is so buzzing because it’s one of the first mainstream applications to be adapted to the Ethereum (and therefore to all cryptocurrencies) blockchain network. As mentioned earlier, each kitten is unique and can’t be erased, so it will last even if the organisation carrying the project was to stop function one day. This approach is very uncommon when it comes to online gaming since the digital contents of such games are usually stored on the publisher’s servers and, therefore, dependent on them. In the case of CryptoKitties, the value of these little fur balls can reach unimaginable scores, even if these kitties are only virtual elements.
Speculators can also use CryptoKitties as financial investments, and this is one of the reasons that seem to have caused its dazzling rise. We know that each creature is different in its characteristics, and it’s this rarity that attracts investors and collectors from around the world. It is indeed not uncommon to see the kittens that value 10 ETH per each. The game has been available for almost two years but 300 000 cats have been sold from that time, and the record selling price of a CryptoKitty is $ 117,000. Moreover, prices are not ready to fall as CryptoKitties continues to gain more and more popularity.
How does CryptoKitties app work?
The game focuses on collecting kitties that are one of the kind. These small creatures can be purchased and sold on the Metamask marketplace using virtual wallets. If a user wants to set his kitty, he must set a starting price. The cost of the pet decreases until a buyer shows up. It is also possible to form pairs with kittens in order to make them reproduce and give birth to a unique CryptoKitty.
Will cats conquer the Internet?
Nothing is resistant to cats, even the Internet. Followers of the CryptoKitty hype are innovation fans who want to contribute to the new flagship product available on the web. Blockchain and Etherum (second cryptocurrency after bitcoin) are gaining in popularity so fast, that it is hard to follow all the new products and applications related to them.
The value of CryptoKitties varies according to their generation, their race (it’s up to you to bet on the good), or their characteristics (hair color, tail shape, etc.). These criteria depend on current trends, supply and demand.
Google and Samsung have placed their pawns on CryptoKitties
CryptoKitties is, and forever will be the first blockchain-based application that reached the general public. Investors like Google and Samsung strongly believe in such a model of approaching the people and want to expand different possibilities connected to CryptoKitties.
What are the benefits of Blockchain Technology?
The blockchain technology, which has become very popular in the cryptocurrency market, uses complex mathematical calculations to shield the data from the outside world. It does not depend on an individual or an organisation, but rather on a loosely associated network of anonymous users. Within the blockchain, every user is fully informed about the entire blockchain. All transactions are recorded in public and unchangeable registers. In the simplest terms, the blockchain can be compared to a distributed database where every user is fully aware of the composition of this database. The blockchain offers a unique method of keeping data safe and an automatic verification of this data so that it cannot be tampered with.
If you are interested in earning money using cryptocurrencies, blockchain technology stands out offering various possibilities. Like in the case of CryptoKitties, you can earn money using different websites like Bitcasino.io. There are hundreds of unrevealed opportunities to discover in the blockchain area.
To sum up
The gamification of blockchain and cryptocurrencies may be the solution to allow the general public to approach the subject. The success of CryptoKitties can start the entire new era of gaining money through blockchain solutions.
Source From : Coindoo News