CryptoKitties bring blockchain mainstream
Building Crypto Today
The dumbest thing I’ve ever heard of, CryptoKitties is surprisingly enough, exactly what the cryptospace needs. Stupid time wasting crap is what makes the world go round. I personally hate it because transactions on the ETH blockchain are hanging for days if you don’t bump up your gas price. I started experimenting on a new exchange and it’s awesome!
I’ve decided to put in on Zilla, what do you think about it? From my perspective, this is going to be a HUGE win as market adoption moves faster forward. This will make ICO investing SO easy that your grandmother can do it. This really is the future of crypto investing and VC investing especially. Check them out and support the show if it makes sense for you, but make sure you’re not in the US or at least have a VPN running first. https://zla.io/i/u/mJzMZoPr5EgW7nRP
Why are the CryptoKitties such a gift & curse?
CryptoKitties might be the new beanie baby and they’re really highlighting Ethereum and really all Blockchain’s ability to kill itself. We’ve come to a point where market adoption has surpassed the technological capability of the platform. Now as we attempt to scale, we’re stuck in the debate of fleeing ETH to something with potentially more stability like ARK or IOTA while ETH figures itself out or stick it out and hope for the best. I can say that I’ll be putting every spare cent I have into crypto for the foreseeable future as the big institutional investors are preparing to jump in. I know I definitely don’t want to miss the waves they create with their billions. And let’s be honest, they’re not as dumb as they act, they’re likely waiting for the next big dip before they throw their billions into the market. They’ll certainly want to capture the best market rate possible and not try to get in during a the cryptokitties flash sale.
Check out one of the most diverse exchanges on the market: https://www.binance.com/?ref=12091725
Forget CryptoKitties, you need gas to make a transaction go in these busy times.
Do you want to learn more about gas, or just reference the going rate? Check out the link above, it’s a great resource. Gas isn’t like NEO where it is a totally separate token. Gas is just a little bit of ETH that you have to pay to transact on the Ethereum blockchain. IOTA doesn’t require it, but all other blockchains do. It is one way to mitigate spam and Denial of Service Attacks. Requiring someone to spend actual money to do interact with the blockchain ensures that it has some level of importance to them. Gas, usually around 1/2 US cent, per single transaction, is what you give to a “miner” to validate your transaction and spread it to other nodes so it can be updates on the ledger. This provides security, but with all security, there is a monetary and speed cost. There is a ton of math and coding behind gas, but like gravity, we can get by in most instances by understanding the basics. Stuff falls and you need to spend a little bit of Eth to send money.
Also published on Medium.