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What Is A Crypto Kittie

What Are Cryptokitties? Latest Craze Involves Virtual Cats Selling For $100,000 On Ethereum Blockchain

What Are Cryptokitties? Latest Craze Involves Virtual Cats Selling For $100,000 On Ethereum Blockchain

What Are CryptoKitties? Latest Craze Involves Virtual Cats Selling For $100,000 on Ethereum Blockchain As if 2017 hasn't been weird enough, now we have CryptoKitties. It's a gamethat involves digital kitties, cryptocurrency and millions of dollars. It'sbuiltoff the Ethereum blockchain platform, and it's a craze sweeping the internet. The virtual cats are cute, sure, butsomehowcan also prove incredibly valuable (at least for now). CNBC, citing research fromdeveloper Niel de la Rouviere, reported this week that folks have spent the equivalent of $6.7 million on the digital cats, with one particular kitty auctioning for a preposterous$114,481.59. The virtual cats are breedable and carry a distinct genome. Each one has aunique DNA and comes with different attributes, whichmeans there are some 4billion possible cats that can be bred. They're all pretty cute and can pass on traits such as having striped fur, spots or a certain eye color. Keep up with this story and more by subscribing now Those cats can thencan be bought and sold at auction for a certain amount of Ether, the cryptocurrency, similar to bitcoin, that fuelsthe Ethereum network. The average price is reportedly about $25 (in Ether), but a number of CrytoKittieshave sold for tens of thousands of dollars. It's all kind of odd. But the game has become so popular it has overwhelmed the Ethereum network. TechCruch reported this week that CryptoKitties accounted forup to 15 percent of the Ethereum network's traffic. "CryptoKitties has become so popular that it's taking up a significant amount of available space for transactions on the Ethereum platform," Garrick Hileman, from the Cambridge Centre for Alternative Finance, told the BBC this week . "Some people are concerned that a frivolous game is now going to be crowdi Continue reading >>

What The Hell Are Crypto Kitties?

What The Hell Are Crypto Kitties?

I read some topics on reddit about crypto kitties and some people that they sold their kitties for 250ETH? WTF? I read some topics on reddit about crypto kitties and some people that they sold their kitties for 250ETH? WTF? I have no clue what it is, but I am 100% sure it is the reason why the Ethereum network is bery slow at the moment. I need to pay 50 Gwei in order to have a normal speed transaction. Even with that Etherdelta is giving errors. So and how do I start there? Do I need to pay something? I read some topics on reddit about crypto kitties and some people that they sold their kitties for 250ETH? WTF? I have no clue what it is, but I am 100% sure it is the reason why the Ethereum network is bery slow at the moment. I need to pay 50 Gwei in order to have a normal speed transaction. Even with that Etherdelta is giving errors. You are right, this game devours 15% of the ether network, and already as the second day the ether network got up. I can not imagine if we allow several such projects to be launched simultaneously, we will bury the ether forever. I read some topics on reddit about crypto kitties and some people that they sold their kitties for 250ETH? WTF? Cryptokitties is a game that is built in blockchain technology, the process is you will buy cats using Ethereum and breed them so you can earn by selling or trading them and also you will need to install metamask wallet on your pc or laptop to be able to get started. I also heard about it yesterday but I never tried play this game, but it is now trending because while playing you can also earn money, this is also the reason why Ethereum blockchain is congested and now experiencing scaling issues. Here's their official site: I read some topics on reddit about crypto kitties and some people that they sold Continue reading >>

I Bred 'crypto Kitties' On The Ethereum Blockchain

I Bred 'crypto Kitties' On The Ethereum Blockchain

I Bred 'Crypto Kitties' on the Ethereum Blockchain CryptoKitties wants to make blockchain tech fun. Trying to explain Ethereum to someone who is unfamiliar with the topic is a bit like administering anesthesia. You start by explaining a blockchain and their eyes slowly glaze over. By the time you've gotten to smart contracts and ICOs , they're slack jawed and drooling all over the place. When you're finished and they regain consciousness, they won't remember a thing. This is all to say that learning about and using Ethereummost succinctly described as a distributed computing platform based on a public ledgercan be unbelievably dull. In a bid to make blockchain technology fun, a Canadian tech company called Axiom Zen has created CryptoKitties , a game where players breed and trade cats using smart contracts on the Ethereum blockchain. "Kitties should be a part of this revolution of bringing blockchain technology to the masses," Benny Giang, a product manager at Axiom Zen told me in an email. "So many great companies are building awesome technology that the world won't care about or understand. We're the flag bearer for the rest of this ecosystem in terms of getting celebrities to associate with kitties and the Ethereum network." A test version of CryptoKitties was unveiled last weekend at ETH Waterloo, the largest Ethereum hackathon in the world. It was accompanied by a breeding competition that challenged participants to breed digital kittens with certain physical traits and rewarded breeders with real Ether (the digital money that powers apps on the Ethereum network). As a cat-lover with an interest in Ethereum , when I heard about the project I thought I'd try my hand at breeding a few crypto kitties of my own. CryptoKitties will be officially released on November 1, Continue reading >>

People Are Spending $millions On Digital Cats And Heres Why It Makessense

People Are Spending $millions On Digital Cats And Heres Why It Makessense

People are spending $millions on digital cats and heres why it makessense Crypto Kitties is about so much more thancats. Last week, AxiomZen studios launched Crypto Kitties , an Ethereum-based game where you can buy and breed cute digital cats. Then, as with every cat thing on the Internet, it promptly blew up. So far, people spent over $6.4 million on these virtual cats . The most expensive one, the genesis cat , sold for a whopping $115,000 a few days ago. The popularity of Crypto Kitties caused a lot of anger and confusion online. Granted, at first glance, this looks completely silly. But, believe it or not, Crypto Kitties marks the beginning of a massive digital revolution. To understand why, we first need to learn about the blockchain, Bitcoin and Ethereum. One of the most important properties of computers is that they can effortlessly duplicate information. For instance, if I send you an email, I still have a copy of it on my computer. Compare this to the real world, where, if I send you a letter through the mail, the letter is gone. I no longer have it. There can only ever be one version of that letter in the world. In most cases, this copy-paste property is great. But in some cases, it sucks. Money is a good example of that. Say I create my own digital money call it DCash and give some to my friend. Then, my friend duplicates it a million times, and now, he wants to buy your car with it. Would you agree to sell him your car for a million DCash? No. Youd say that his money isnt worth anything because he can just make it all up from nothing. This is the paradox of digital assets, or as I call it, the copy-paste problem: for things to have value, they need to be scarce. But computers, by default, make everything available to everyone. Therefore, anything that can Continue reading >>

Cryptokitties - Everything You Need To Know

Cryptokitties - Everything You Need To Know

Blockchainhas started taking the world by a storm of innovative use cases. For those whove come in late, the blockchain is the underlying technology behind cryptocurrencies like Bitcoin , Ethereum etc.(Take a look at our detailed blockchain guide ) Industries across the globe have started experimenting with this technology to explore every possible niche of their sector to solve different problems in ways never tried before. And with every industry trying hard to make use of this technology, why should the Gaming industry fall behind! Thats why interesting blockchain-based games are being introduced for the consumers to feel even more associated with this revolutionary tech i.e. blockchain. And one of the most interesting and innovative blockchain game is Cryptokitties, which is also our topic of extended discussion today. In this introductory write-up of Cryptokitties, I will walk you through the below mentioned salient points of this unique idea: CryptoKitties is a blockchain-based game where you can breed, collect and HODL kittens that are made & generated over Ethereum blockchain. These digital kittens or cryptokitties are just like humans that are unique and cannot be replicated, taken away or destroyed by anyone. Still not making sense? Bear with me and read further. I will break it down in simpler words so that you are absolutely clear by the end of this post. Cryptokitties is a blockchain powered game. Just like cryptocurrencies that thrive and are born on the blockchain, cryptokitties are also born and thrive on Ethereums blockchain.Just like each Bitcoin or Ether, each cryptokitty is also unique. These cryptokitties are like a new form of collectibles called cryptocollectibles. Their team is quite diverse that includes numerous start-up founders, crypto-enthu Continue reading >>

Guide To Buying Cryptokitties (ethereum Game)

Guide To Buying Cryptokitties (ethereum Game)

Crypto, Products, and other Random Thoughts Guide To Buying CryptoKitties (Ethereum Game) howto games blockchain ethereum guide crypto cryptokitties CryptoKitties launched in late Nov 2017, and within a week it had taken the world by storm , flooding the Ethereum transaction network and generally causing a ruckus as kitties are wont to do. This post will give you a brief introduction to the beanie babies (/neopets) of this generation, and a step-by-step guide on how to get your very own CryptoKitty. Prepare to get your paws wet! There's tons to learn in this post. To help you remember, check out my app Harvest: Take Notes and Learn Passively . It uses a memory algorithm called spaced repetition to help you remember notes just like this summary : CryptoKitties are digital cats that live purely on the Ethereum blockchain ( refresher on blockchain ). They are collectibles that you can buy, sell, and best of all, breed to create new kitties. When you own a kitty, no one can take it away from you (not even the CryptoKitty company) since your Ethereum address owns it and only you have the private key. The whole point of CryptoKitties is not only that they are beautiful digital kitties that you can admire and collect (maybe this is the whole point); you can also breed any two kitties together and create an entire unique new kitty, with its own " cattributes " and name. CryptoKitties are each part of a "Generation" which just means that the kitties that were magically created and without parents are "Generation 0" and every subsequent breeding from these kitties are "Generation +1" of the youngest of the parents. Generation 0 + Generation 0 = Generation 1 "Cattributes" (cat attributes) are what uniquely define a kitty. These describe everything about your kitty, including colo Continue reading >>

Meet Cryptokitties, The $100,000 Digital Beanie Babies Epitomizing The Cryptocurrency Mania

Meet Cryptokitties, The $100,000 Digital Beanie Babies Epitomizing The Cryptocurrency Mania

Someone spent $114,000 on a virtual kitten that runs on blockchain So states the FAQ for CryptoKitties, a new game for collecting, breeding and selling digital cats that is so popular, it is clogging up the network of digital currency ethereum . Players have spent the equivalent of $6.7 million and counting buying CryptoKitties, which can sell for as much as $114,481.59, according to third-party research from developer Niel de la Rouviere . The median price of a kitten is $25.04. Just three days ago, the site had logged about $1.3 million in sales . "The popularity of virtual cats fits the euphoria we see elsewhere in the crypto-currency space," Peter Atwater, who studies market sentiment and heads Financial Insyghts, said in an email. "It feels very reminiscent of the Candy Crush craze that helped propel the King Entertainment IPO back at the peak of the 'Unicorn' era in mid 2014." Created by Vancouver-based Axiom Zen, CryptoKitties launched to 200 users on Thanksgiving and was opened to the public last Tuesday. More than 41,000 unique kittens have been sold already, according to de la Rouviere's data. But CryptoKitties' popularity indicates blockchain technology still has a long way to go to reach its hype. CryptoKitties accounted for about 13.5 percent of power on the ethereum network Wednesday morning, said Benjamin Roberts, co-founder and CEO of Citizen Hex, an ethereum-focused start-up backed by three Canadian venture funds. "With Cryptokitties every Ethereum user has suddenly taken on the computational overhead of running a mainstream application," Roberts said in an email. "This overhead affects not only Cryptokitty transactions, but every other transaction on the Ethereum network." Blockchain project SophiaTX postponed its token sale by 48 hours this week to T Continue reading >>

Cryptokitties, Explained ... Mostly

Cryptokitties, Explained ... Mostly

Cassandra Shi, center, talks with other guests during a Crypto Christmas Party at Mr. Tipple's Recording Studio in San Francisco. Credit Jason Henry for The New York Times SAN FRANCISCO Joe Buttram, a former mixed martial arts fighter and start-up security guard turned cryptocurrency investor, was looking at a new toy called a CryptoKitty. You can see he wants to sire, Mr. Buttram, 27, said. For about 20 of the cryptocurrency called ether ($14,000 at the time), the cartoon cat would mate with one of Mr. Buttrams, and he would get a new CryptoKitty. That kitty could inherit its fathers desirable eyes (traits include thicccbrowz) or fur pattern (like totesbasic). Every new technology gets a game that helps bring it careening into the mainstream. Social networks had FarmVille. Mobile phones had Angry Birds. And, its investors hope, blockchain has CryptoKitties . Blockchain technology like Bitcoin and Ethereum, ledgers for recording virtual currency transactions, is booming, and CryptoKitties is the first big blockchain game. As they did with baseball cards, people collect CryptoKitties, but these cards can breed. The Ethereum network, whose currency is called ether, is valued at about $70 billion, but not many of the investors really know what their ether can be used to do. And now heres one thing you can do with it: Ether is the only currency that exists in the CryptoKitties world. Since CryptoKitties was introduced a month ago, 180,000 people have signed up. Theyve spent about $20 million in ether, and more than 10 kitties have sold for over $100,000. Based in Vancouver, British Columbia, CryptoKitties is now a team of 18. Next the company is starting social games like kitty beauty contests and expanding into other blockchain collectibles. Were just like, man, people wa Continue reading >>

How Crypto-kitties Disrupted The Ethereumnetwork

How Crypto-kitties Disrupted The Ethereumnetwork

How Crypto-Kitties Disrupted the EthereumNetwork Crypto-Kitties are growing to such a scale that they are disrupting the Ethereum network creating network congestion and traffic for all users of the Ethereum blockchain. A Crypto-Kittie is a digital pet similar to a Tamagotchi but with the benefits of blockchain. They are generated by code and breeding occurs by spending Ether tokens on smart contracts. The smart contracts are set up so that two base cats are used to spawn a new one and the entire breeding process is recorded on Ethereums public ledger. The reason for the use of the Ethereum ledger is that this ensures that each cat that is bred is truly unique and persistent. Crypto-Kitties offer the advantage of owning a decentralized digital pet a feature which has been exorbitantly popular with users in this market segment and further attracting new users to the space in droves. Whats the Impact on Ethereum? Congestion Risks Crypto-Kitties have exploded in popularity in 2017 and this trend is placing a rapidly growing amount of pressure on the Ethereum network. The network disruption has been somewhat damaging for Ethereum in terms of adding concern to other types of traders and users that Ethereum risks congestion and slow processing speeds. Whats the Impact on Ethereum? Positive PR On the other hand, the crypto- Kittie disruption has created a lot of exposure for Ethereum so much so that the currency has leapt in value over the past week alone. In addition, Ethereum is now perceived as more fun and accessible to everyday users who had previously felt intimidated about how the crypto-currency might be incorporated into their everyday lives. Whats the Impact on Ethereum? Significant Volume The Crypto-Kittie app applies the Ethereum blockchain to create a public, sha Continue reading >>

This Man Has Made More Money Trading Cryptokitties Than Investing In His Ira

This Man Has Made More Money Trading Cryptokitties Than Investing In His Ira

This man has made more money trading cryptokitties than investing in his IRA CryptoKitties, a game where users breed and trade digital kitties using Ethereum-based smart contracts, has emerged as the latest mark of societys obsession with rising cryptocurrency values. In some ways, the popularity of the game reflects the skyrocketing values of digital currencies like Bitcoin and Ether. Total sales on the platform created by Canadian startup Axiom Zen have reportedly hit $12 million, according to Coin Telegraph , as some cats with rare attributes have been sold for upwards of $80,000 . Cryptokitties are generated by code, and bred by spending Ether tokens on smart contracts that use two base cats to create a new one. Each resulting cat is unique and persistent, recorded on Ethereums public ledger. While the game has proven wildly popular, CryptoKitties has also been plagued by network slowdowns, little game progression and automated bots that snipe deals. Its also placing a new load on the currency itself. The game has slowed down the Ethereum network by as much as 11 percent, Motherboard reported last week. But as the first successful game built on the Ethereum network, CryptoKitties success has hinted at the greater potential of apps powered by blockchain technology and given rise to a new wave of cryptocurrency speculation. Like Bitcoin and Ethereum, CryptoKitties allowed speculators to make a lot of money if they got in at the right time. One of those speculators is Todd, who wished to remain anonymous in order to disclose personal financial details. While we talked, the CryptoKitties site dipped in and out of commission. Todd is a 30-year-old entrepreneur and software designer from Austin, Texas. Hes also been the owner of 35 cryptokitties , an extension of his bro Continue reading >>

Cryptokitties - Wikipedia

Cryptokitties - Wikipedia

CryptoKitties is a blockchain based virtual game developed by Axiom Zen that allows players to purchase, collect, breed and sell various types of virtual cats. It represents one of the earliest attempts to deploy blockchain technology for recreational and leisurely purposes. [1] The game's popularity in December 2017 congested the Ethereum network, causing for it to reach an all-time high in transactions and slow down significantly. [2] On March 20, 2018, it was announced that CryptoKitties would be spun off into its own company and raised $12 million from several top venture capital firms and angel investors. The investment round was led by New York based Union Square Ventures and San Francisco based Andreessen Horowitz . [3] [4] [5] Whereas CryptoKitties is not a cryptocurrency , it operates on Ethereum s underlying blockchain network, which offers something similar. Each CryptoKitty is unique and owned by the user, validated through the blockchain, and its value can appreciate or depreciate based on the market. CryptoKitties cannot be replicated, taken away, or destroyed. Users can interact with their CryptoKitties, having the ability to buy, sell, and sire (breed) them. A test version of CryptoKitties was unveiled at ETH Waterloo on October 19, 2017, the largest Ethereum hackathon in the world. As of December 2, Genesis, the first and highest selling cat was sold for 246.9255 ETH (~$117,712 USD) on that day. The virtual cats are breedable and carry a unique number and 256 bit distinct genome with DNA and different attributes (cattributes) that can be passed to offspring. [6] Several traits can be passed down including cool down time (how much time is required before a cat can breed), whiskers, fur color, eye shape, eye color and background color. [7] A CryptoKitty' Continue reading >>

How To Buy A Cryptokitty: The Complete Guide + Dna Sequencing

How To Buy A Cryptokitty: The Complete Guide + Dna Sequencing

How To Buy a Cryptokitty: The Complete Guide + DNA Sequencing my first cryptokitty, First Parent ofDracula Yesterday I purchased my first cryptokitty on the Ethereum blockchain. Professional Mad Scientist! Thats mykitty! I dont consider myself to be the type of person who gets completely swept away by new internet fads, but when my friend told me yesterday that she made $80 by breeding her cryptokitty (and still retaining ownership), I was seized by the idea that I could earn passive income while I pimped out my virtual cats. So far, Ive earned $2.20 by pimping out my first kitty, First Parent of Dracula. This amount is really low, due mostly to me underbidding my kittys reproductive talents. Im not going to tell you how much I paid for my cryptokitty. I bought Ether early this year and paid about $70 for 1 ETH. Now 1 ETH is worth $450. Lets just say I spent way too much for my very first cryptokitty. I bought mine based on three facts: 1. My cat gave birth to a Dracula. 2. My friend who bought one two days ago told me she made $80 by breeding hers. 3. I love SalvadorDali. I wrote this complete guide after many people on Twitter were begging for answers. Heres my kitty and its name is First Parent of Dracula. Cryptokitties are like snails, meaning that all of them can get pregnant. Theres no male nor female. I made mine into an animated GIF using the free tool, Giphy. Step 1: Install the MetaMask Chrome extension: MetaMask is the most noob-friendly way to connect to the Ethereum blockchain. MetaMask is a digital wallet that allows you to sign smart contracts and transactions. If youre new to MetaMask, please watch this intro video to getstarted: Heres an example of a difficult password: Troy!Tupee$Live67M2stlaughTerry987 pro tip: make your password very difficult and d Continue reading >>

People Have Spent Over $1m Buying Virtual Cats On The Ethereum Blockchain

People Have Spent Over $1m Buying Virtual Cats On The Ethereum Blockchain

People have spent over $1M buying virtual cats on the Ethereum blockchain Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain.And like most viral sensations that catch on in the tech world, its blowing up fast. Built by Vancouver and San Francisco-based design studio AxiomZen , the game is the latest fad in the world of cryptocurrency and probably soon tech in general. People are spending a crazy amount of real money on the game. So far about $1.3M has been transacted , with multiple 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 tracks the largest purchases made to date on the game. And like any good viral sensation prices are rising and fluctuating fast. 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 using Ether, an asset with arguably little tangible utility to purchase an asset with unarguably zero tangible utility. Welcome to the internet in 2017. In all seriousness, its a little bit reminiscent of the beanie baby trend where people were paying insane amounts of money for stuffed animals. But if the popularity continues to increase these people may be able to make a return by reselling or breeding their rare kittens, or theyll be stuck holding the virtual cryptographic keys to a virtual rare kitten when the market crashes in a few day, like eventually happened with beanie babies. There are a few cool things about the game though, and putting aside the valuation absurdity its actually a cool way for beginners to interact with the Ethereum blockchain. First off, its important to understand that since its played on the Ethere Continue reading >>

Cryptokitties Is An Ethereum Game That Puts Cartoon Cats On The Blockchain Quartz

Cryptokitties Is An Ethereum Game That Puts Cartoon Cats On The Blockchain Quartz

CryptoKitties is significant because it has a chance of attracting players beyond the limited circle of cryptocurrency enthusiasts. As Ryan Hoover, the founder of product recommendation platform Product Hunt, noted, the game is like Pokmon on a blockchain, which bodes well for ethereum evangelists hoping for some of Pokmon Gos viral popularity. A modern day Pokemon with cats on the blockchain: pic.twitter.com/t7fwiSt3au Ryan Hoover (@rrhoover) November 29, 2017 CryptoKitties also offers a cuddly slant on the initial coin offering craze. The mechanics and goals of the two are similar, but in the case of CryptoKitties, offers genuine utility to the user upfront. For instance, most ICOs promise to build whatever technology they are pitching with a white paper (basically a lugubrious PDF). Investors send cryptocurrency to the ICO issuer and then wait for the tech to be built. In the meantime, the ICO may issue a token and allow investors to trade it, which gives rise to speculative prices around an unbuilt piece of technology. With CryptoKitties, the software is already functional. But people have to buy kittieswhich are sort of like tokensin order to participate. They can buy kitties from the developers themselves, or on the secondary market. In the latter case, the developers take a 3.75% cut. The CryptoKitties game, then, amounts to a sort of token sale, except the tokens are the kitties. The trading of kitties also generates the vaunted virtuous cycle that all ICOs promise: the more users pile into the system, the more valuable those tokens will be. This appears to be happening with CryptoKitties. CryptoKitties may not have the grand ambitions of other cryptocurrency projects, but by devising a mechanism thats fun and approachable, it may come closest to achieving thos Continue reading >>

Cryptokitties Craze Slows Down Transactions On Ethereum

Cryptokitties Craze Slows Down Transactions On Ethereum

CryptoKitties craze slows down transactions on Ethereum These are external links and will open in a new window 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 University of Cambridge. "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 . Image caption CryptoKitties is the first game built on Ethereum Think of these rather unpalatable cartoon kittens as unique digital Pokemon cards. The game's developers describe them as "breedable Beanie Babies", each with its own unique 256-bit genome. These crypto-collectibles are also gender-fluid, able to play the role of either the "dame" or the "sire" when bred together. The kitties' unique DNA can lead to four billion possible genetic variations. Some of the varieties created so far look lifelike, with grey striped fur and bulging green eyes. Others are speckled with neon-blue spots or magenta-patterned swirls. Image caption One of the less at Continue reading >>

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