Topic: Crypto collectables like CryptoKitties ---Meanings and Thoughts--- (Read 259 times)
December 05, 2017, 07:12:51 PM
there is already a technology that will solve the problem of scalability in the etherium network, this technology is Raiden Network. A cat is a revolution for the whole crypto community, tk. a huge number of users get acquainted with crypto-currencies thanks to similar games
December 04, 2017, 06:38:22 AM
Hi today i discovered Cryptokitties...first game on the Ethereum blockchain...recently already 15% of all transactions caused through Crypto kitties..and i have problems getting my eth to etherdelta...what are u thinking of that? and about crypto collectables in general..
Quote from https://blockonomi.com/cryptokitties/
Real World Use Case or Waste Of Resources
Despite being successful in such a short period of time, CryptoKittes has been regarded as waste of resources by several people as Ethereum has once again started to become congested. Ethereum faced similar issues in the past during the Bancor ICO and Status ICO sales. Ethereum is currently serving over 650k transactions per day which is almost twice the transaction volume of bitcoin and is also at the peak of its scaling capability.
Others has defended CryptoKitties by terming it as a big time success and regarding it as the killer Ethereum Dapp that everyone was waiting for. With over $1 Million spent in just 2 weeks, it can also be regarded as the beginning of the crypto collectible industry.
Future of Crypto Collectible Industry
Something like Pokemon Go on the Ethereum blockchain can serve as a better version of the existing Pokemon Go with rules of Pokemon spawing and the rarity of the Pokemon defined in a smart contract which makes every pokemon valuable. This can really be something Nintendo should look forward to. Several other existing popular games such as Dota 2, LOL etc. can make use of the Ethereum blockchain to control the issuance of new items and drift away from the existing markets which charges them high amount of fees.
Conclusion
CryptoKitties might seem a waste of resources for now but it definitely has a future once better scalability alternatives arrives in the industry. It might also be possible that it is just the hype that is driving so much attention to CryptoKitties. We will have to wait for a few months before we can come to any conclusion on the reality of the crypto collectible industry.
Quote from https://blockonomi.com/cryptokitties/
Real World Use Case or Waste Of Resources
Despite being successful in such a short period of time, CryptoKittes has been regarded as waste of resources by several people as Ethereum has once again started to become congested. Ethereum faced similar issues in the past during the Bancor ICO and Status ICO sales. Ethereum is currently serving over 650k transactions per day which is almost twice the transaction volume of bitcoin and is also at the peak of its scaling capability.
Others has defended CryptoKitties by terming it as a big time success and regarding it as the killer Ethereum Dapp that everyone was waiting for. With over $1 Million spent in just 2 weeks, it can also be regarded as the beginning of the crypto collectible industry.
Future of Crypto Collectible Industry
Something like Pokemon Go on the Ethereum blockchain can serve as a better version of the existing Pokemon Go with rules of Pokemon spawing and the rarity of the Pokemon defined in a smart contract which makes every pokemon valuable. This can really be something Nintendo should look forward to. Several other existing popular games such as Dota 2, LOL etc. can make use of the Ethereum blockchain to control the issuance of new items and drift away from the existing markets which charges them high amount of fees.
Conclusion
CryptoKitties might seem a waste of resources for now but it definitely has a future once better scalability alternatives arrives in the industry. It might also be possible that it is just the hype that is driving so much attention to CryptoKitties. We will have to wait for a few months before we can come to any conclusion on the reality of the crypto collectible industry.
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