Ethereum: The Beginner's Guide to Mining and Investing in Ethereum, including smart contracts and Blockchain Technology (Cryptocurrency, Investing, Trading, Mining Book 1) by Jansson Felix

Author:Jansson, Felix [Jansson, Felix]
Language: eng
Format: mobi
Published: 2018-02-14T16:00:00+00:00

One popular example of a DApp using this system on Ethereum is called Crypto-Kitties. Exploding in popularity in 2017, Crypto-Kitties is a sort of collectible game where the virtual tokens are cats. In fact, it is so popular that it has actually put a strain on the blockchain network as Ethereum attempts to keep up with its demands. In the Crypto-Kitties DApp each token represents a unique Crypto-Kitty, and some of the rarest ones can sell for thousands of dollars. Users can also breed new cats using Smart Contracts. The users simply pay Ether to record the smart contract and when two Crypto-Kitties are bred the unique result is entered into the public ledger. Ethereum recently doubled the cost of breeding new Crypto-Kitties in an attempt to ease the pressure on the platform. The reason for a public ledger is to guarantee that each Crypt-Kitty bred is totally unique and will endure. This is a great example because it illustrates how DApps can expand beyond simple financial transactions and be useful for something fun.

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