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CryptoKitties is a new blockchain game that has taken the world by storm. It is based on the Ethereum network and allows users to buy, sell, and trade digital kittens. The game has quickly become very popular, with over $12 million worth of CryptoKitties traded in just one week.
So what is CryptoKitties and why is it so popular?
CryptoKitties is a digital collectible game that allows users to buy, sell, and trade digital kittens. The game is based on the Ethereum network and uses blockchain technology to keep track of all transactions.
The popularity of CryptoKitties has exploded in recent weeks. In the first week of December, $12 million worth of CryptoKitties were traded on the platform. More than 4% of all Ethereum network traffic is used by the game and some users have spent more than $100,000 buying virtual cats.
The value of the individual kittens is determined by how rare they are. Some kittens are more common and thus have a lower value, while others are much rarer and can sell for thousands of dollars.
What Makes CryptoKitties Appealing?
There are a few reasons for the game’s popularity. Firstly, it is based on the Ethereum network, which is quickly becoming one of the most popular blockchain platforms. Secondly, the game is simple to play and does not require any technical knowledge. Finally, the value of the kittens is determined by supply and demand, making them a potential investment opportunity.
CryptoKitties is based on the Ethereum network and uses blockchain technology to keep track of all transactions. The game works like a giant online ledger, recording all of the transactions to ensure that no one cheats. Every kitten is unique and only exists on the blockchain, allowing it to be transferred or sold securely.
Users can buy, sell, or breed kittens by spending Ether (the currency used in Ethereum). Bitcoin Revolution provides the right platform to be able to buy cryptocurrency to help you play the game. The game uses smart contracts which are programmed onto the blockchain and cannot be changed after they are set. This means that each kitten is unique and cannot be duplicated or destroyed.
How Can I Play CryptoKitties?
CryptoKitties can be used on any device using standard web browser technology (no download required). The game has created an online marketplace for kittens, which users can buy, sell, or trade with one another.
Users are not required to manage their own private keys, which means that they never have to worry about losing their kittens. The game’s popularity has also created a large secondary market where people can buy and sell unique cats for large amounts of money. With some kittens selling for more than $100,000, this is a significant amount of revenue for the Ethereum network.
Why Aren’t There More Games Like CryptoKitties?
The reason why very few blockchain-based games have been made is that they require a lot of resources to create and maintain. In order to keep track of all transactions, blockchain-based games need an enormous amount of memory, which can make them slow and difficult to play.
This is why CryptoKitties was the first game to become popular on the platform, as it does not require a lot of memory or computing power. It has also made blockchain technology more accessible by removing many of its complexities.
Final Thoughts
CryptoKitties is a popular blockchain-based game that allows users to buy, sell, and breed digital kittens. The game has become very popular since its launch in late November 2017, trading more than $12 million of virtual cats in the first week. Some players have also spent thousands of dollars buying unique kittens with the hope that they will increase in value.
