Categories: CryptoNews

CryptoKitties Is Clogging the Ethereum Network

CryptoKitties is the newest craze capturing the attention of the cryptocurrency community. Whether one thinks it’s the greatest creation ever, or doesn’t understand how something so dumb is so popular, everyone is talking about it. With this popularity, however, comes a price. So many people are buying, selling, and breeding CryptoKitties that the Ethereum blockchain is struggling to keep up with all the activity.

CryptoKitties captured everyone’s attention when its Genesis Cat sold for 250 ETH. Since then, activity on the game has continued to grow. As of right now, CryptoKitties is the most active smart contract on the Ethereum network, accounting for over 16% of all Ethereum transactions. EtherDelta’s contract is the second most active, currently responsible for over 12% of all transactions.

With an explosion of new activity, the Ethereum blockchain is becoming increasingly backed up with unconfirmed transactions. Recently, the number of unconfirmed Ethereum transactions has remained consistently above 15,000. To put that in context, each block typically processes between one and two hundred transactions. Prior to the launch of CryptoKitties, unconfirmed transactions averaged about 2,000.

Related Post

For CryptoKitties users, this ever-increasing backlog has resulted in rapidly increasing wait times to breed and transfer cats, as the births of their kittens remain stuck in limbo as a result of unconfirmed transactions. This is more than just frustrating, as it also allows users to exploit the system by double spending breeding transactions if their unborn kittens have bad genetics. Essentially, malicious users can abort their unborn kittens until they get the ideal offspring.

Fortunately, CryptoKitties has responded by increasing the cost of birthing a kitten to .015 ETH. This cost is considered a “birthing fee” which is paid to the entity that confirms the transaction. With current gas prices, this fee results in a small profit to whoever confirms the birth. The way it is intended, this change will allow the community to stop bad actors by confirming kitten births before they can be re-rolled.

While some individuals are firm believers that CryptoKitties is merely a fad that will burn out as quickly as it grew, there are thousands of active CryptoKitties users who are enjoying participating in the game. After all, the kittens they can call their own are very cute.

Zane Huffman

Zane is a crypto enthusiast who has been involved since August 2013. He is a trader and writer of all things cryptocurrency. He is very excited for the role cryptocurrency will play in the future, especially in regards to the videogaming industry.

Share
Published by
Zane Huffman

Recent Posts

Justin Sun Pledges $SUN Buybacks With SunPerp Revenue

Justin Sun, CEO of TRON DAO, has just made one of his biggest announcements of…

2 days ago

$BNB Hits $1,000 ATH as Market Cap Reaches $145.7B

$BNB has broken through a historic milestone. The token surged past $1,000, setting a new…

3 days ago

Top 5 DeFi Tokens Less Than $1 Price Mark To Watch In September

Decentralized finance (DeFi) has continued to disrupt traditional financial systems, offering permissionless access to lending,…

3 days ago

Solana Data Insights: App Revenues Hit $193.5M in August, Up 126% YoY

Solana’s app economy posted another breakout month. Total application revenues surged to $193.5 million in…

4 days ago

Sharps Technology Aligns with Bonk for Treasury Staking and Solana Growth

Sharps Technology (NASDAQ: STSS) is making a major move in the Solana ecosystem. The company,…

4 days ago

Understand AR In the Context of LivLive’s Game Layer for Reality Ecosystem

LivLive is redefining augmented reality (AR) gaming by turning real-world actions into measurable value for…

4 days ago