Can CryptoKitties be an apocalypse for a blockchain? How Trinity will rescue the Crypto World.
It’s so human to create an analog of pets for the crypto world. There is an irresistible desire for something completely useless, adorable, collectible and the pain in the ass at the same time.
At least, no one in “Unchained” world can say that the crypto world doesn’t have a soul. It seems that every blockchain is going to have its crypto creatures.
Cryptokitties — the first most popular Mainnet DApp.
“Mainnet” — the main network wherein actual transactions take place on a distributed ledger; and the Testnet, where new Dapps can be tested and developed.
DApp — decentralized application
Cryptokitties — a blockchain-based multiplayer game where you can buy a Cryptokitty, in case if you are lucky to breed some rare type, you can sell on the marketplace with a higher price. The prices are based on kitty’s features fashion and their rarity. The most expensive kitty was sold for 250 ETH ($100+K). The more unique and scarcity the kitty is, the higher value it has. Every kitty is represented in Ethereum blockchain as a token with unique data, a non-fungible token ERC721 standard.
I bet now you understand why it’s so popular, because you can make money on it. Thanks to smart contracts Ethereum’s ecosystem is very favorable to this kind of games.
More games like this are coming to Ethereum. For example, Axie Infinity another crypto asset game which besides selling, buying and breeding, allows to grow and train your pet for a peer-to-peer battle.
Neo blockchain as well as Ethereum uses smart contracts ecosystem, it also expects NEO crypto creatures - HashPuppies.
HashPuppies is a mix of CryptoKitties and Axie Infinity. You can breed, sell, raise and train your puppy, but as creators say it will be better/faster/cheaper considering NEO blockchain qualities.
Scalability is blockchains’ common issue or Cryptokitties as Ethereum possible killer
Any blockchain is able to process a limited number of transactions per second (TPS).
TPS — transaction per second, one of the main key performance indicators (KPI)of the payment process.
Bitcoin blockchain is currently capable of processing up to 7 TPS, Ethereum up to 15 TPS, Neo supposedly up to 1000 TPS. Meanwhile, current centralized payment methods consistently handle higher TPS: Paypal -155, Visa — 2000.
CryptoKitties look innocent however they sometimes sabotage Ethereum network. From time to time a transaction cost increases up to 10 or 20 times. That means due to user activity peaks transactions are queued to be processed by a miner. Sometimes waiting/pending could last for too long and a user has to increase a cost of transaction to be chosen by a miner, to succeed.
For example, in December of 2017 due to incredible CryptoKitties usage, many Ethereum based ICOs experienced the critical situation and had to postpone their token sales. The ETH blockchain was suffering from the overload since CryptoKitties transactions are about 10% — 13% of all transactions. That’s huge! The law procession speed is similar to traffic in a rush hour in a big city. Imagine also that a blockchain doesn’t only provides the payment, but it also offers high-security level with multiplied proof of transaction. That means every inrush of the transaction due to whatever ICO or crypto pets baby boom will lead to collapse.
As a result of the cryptokittie’s baby boom, the transactions fees increased significantly. Ethereum users were forced to pay up to 300$ fee and more for one transaction to be chosen by a miner, who could have preferred to give birth to a new crypto toy for a higher commission instead of providing an ordinary payment service. Transaction price rose 100 times in the year 2017.
These factors will never allow the crypto world to merge with a reality of fiat money. If the cost of transaction is too high, nobody will pay such a fee.
Trinity is Neo life-saver
Based on the example of Trinity we will explain how the operational principle of the scalability solution works. We chose Trinity because of its positioning as a cutting-edge technology and close release on the Neo mainnet in late of April.
Trinity successfully deals with possible chaos caused by pending transactions by bringing the state channels to Neo blockchain. It means that participants can connect with each other beyond blockchain making micro transactions faster and cheaper, avoiding intermediate transactions within blockchain.
Trinity creates a channel between a cryptopet’s player and a game. Player opens a payment channel, making a deposit to cover game credit and trinity service commission when a game starts. Users can operate their deposit within the opened payment channels with much smaller or for free. It means you can breed, sell and give birth without paying fee every time. Trinity requests commission two times, when a contract opens and closes. Only these two transactions are being fixed in the NEO blockchain. All operations during the game are processed in the Trinity payment channel and get recorded at one time to the Neo when a contract closes. Then a player receives leftover in one’s wallet. It is an excellent way to save money and to became the best player.
TPS will also increase exponentially. Trinity + Neo speed is going to be 80000–100000 TPS on the start. Cryptopets’ fans will appreciate this ;)
Such a solution brings new perspectives to Dapps. Scaling used to be a real problem, but now there is a chance for the Crypto World.
Have a nice baby pet! 🐶 🐱 🐭 🐹 🐰 🐻 🐼 🐨 🐯 🦁 🐮 🐷 🐽 🐸 🐙 🐵
Trinity is going to focus on a blockchain based games.