As it was silly as it could be sound, the popular application CryptoKitties could announce a powerful up-to-date case of ethereum – digital collectibles.
After launching last week, CryptoKitties is the most popular ethereum app quickly – so it’s common that CryptoPuppies (for those who prefer the “best friend”) and CryptoPets ( allowing people to use any type of animal animal pet better).
But while some of the people are skeptical in this new trend (“Dear God,” one user replied reddit to think about a Pokemon on the blockchain), others see that CryptoKitties is probably a pioneer of what One of the most of the application platform.
Leaders of Blockchain, such as liteco creator, Charlie Lee and Earn.com, CEO of Balaji Srinivasan, designate a couple, claim that “the application is really important” because it shows the promise that it uses the blockchain to transfer all types of assets immediately with no third party.
However, it is less recognized that there is reason to believe that the usable applications could be user-friendly to the horizon. That is because the system to create these collectibles materials is of technical quality such as ERC-20, the same technology that stimulated the boom in initial coin offers (EIT) in 2017.
As it might seem, your favorite ball cradle can be done through a powerful technical standard based on CryptoKitties called Ethereum Request for Comments 721 (ERC-721).
“People were talking about [ERC-721] for a long time, but no one was in effect. CryptoKitties became the first person,” Philippe Castonguay, developer relations manager for the cryptocurrency exchange protocol 0x, said by CoinDesk, adding:
“ERC-721 has a huge market entry.”
According to many crypto developers, ERC-721 is better suited to digital collectibles than ERC-20.
In the case of beginners, signs created by ERC-20 are “fungible”, which means that all signs are as well as any other ticks, like all US dollars as well as any other US dollars.
Although this is an essential property for currency, it is not suitable for “collectibles crypto collectibles” such as CryptoKitties, since different cats, such as age, breeding or color, have unique characteristics, permanently connected to them. In this way, some combinations of the characteristics within certain cats can be very rare, which means they do not want very good but also significantly.
One such cat trade on CryptoKitties at $ 110,000.
Secondly, ERC-20 drops can not be acceptable, which means that users can share them in small amounts of buying, selling or trading.
Although this property, once again, is useful for currency, it does not help collectors, as generally collectors are not just as good as their condition.
In CryptoKitties, half cats would not be fun or valuable.
All that said, there are still questions about ERC-721. Although it is drawing fast and is already being used, it has not yet been completed and some developers are dissatisfied with the code as it is today.