Cryptokitties
Ethereum has proven that the blockchain has a lot of possibilities. Cryptokitties is an application where customers buy, sell and breed virtual cats. Their DNA is created so that it enables them to give to their kitties genetically identifiable features such as fur color and stripes from parents. The rarer the cat is, the more expensive it is.
Players spent 6.7 million dollars on the application, and the most expensive cat was sold for $ 114,481.59. The average price of kittens is 25 dollars.
From the above figures, it is clear how many got interested by this game. As Joey Krug, the main investor of "Pantera Capital" and one of the first bitcoin investors says:
"From a high level, abstract angle, it's almost a sample of digital art. It has no fixed value, except as you appreciate it. "
In spite of great success, the application overloaded Ethereum Blockchain so, that it broke down, which led to more serioous transactions not being processed.
As a result, the developers of cryptokitties had to increase prices. If they were selling at 0.002 ETH (approximately 90 cents), the price now is 0.015 (about $ 6.69).
The fact that the game has overloaded Ethereum Blockchain, reminds us once again the problem of scaling. Despite the fact that Ethereum showed us the unlimited possibilities of Blockchain and confirmed that its platform is indeed a turn-over, it also showed that the problem of scaling is important and increasing the size of blocks is not a solution. Instead, demonstrating the possibilities of the platform is obviously an opportunity to think that the scaling problem will soon be no worry.
Thanks for looking in,
