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When seen through the lens of technology, few resources are truly scarce; they’re mainly inaccessible. 

 

Peter Diamandis

CryptoKitties craze slows down transactions on Ethereum

RATE THIS! +36
Posted in Software on 6th Dec, 2017 10:52 PM by Alex Muller

A new craze for virtual kittens is slowing down trade in one of the largest crypto-currencies. CryptoKitties lets players buy and breed "crypto-pets" on Ethereum's underlying blockchain network. The game's developers told the Bloomberg news agency that CryptoKitties was a "key step" to making blockchains more accessible.

 

But its popularity has underscored one of the technology's biggest downsides: its lack of scalability. Etherscan has reported a sixfold increase in pending transactions on Ethereum since the game's release, by the Axiom Zen innovation studio, on 28 November.
 
"CryptoKitties has become so popular that it's taking up a significant amount of available space for transactions on the Ethereum platform," said Garrick Hileman, from the Cambridge Centre for Alternative Finance.
 
"Some people are concerned that a frivolous game is now going to be crowding out more serious, significant-seeming business uses."
 
An estimated $4.5m (£3.35m) has been spent on the cartoon cats at the time of writing, according to Crypto Kitty Sales.

Tags: ethereumonlinebitcoinsoftwarebusiness

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Comments

Author: Guest
Posted: 2017-12-07
+1
Well, one hopes that this fascination with kittens will be short lived and that ETH will be traded again, with the volume largely increased
1 Replies
Author: Guest
Posted: 2017-12-07
+1
This just shows how difficult it is to control what happens on the Internet Reply
Reply


 

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