Mistakes you should steer clear from in Crypto trading

Introduction

Crypto Kitties is a game that involves owning, breeding, and selling virtual cats in exchange for real money. It can be played through Ethereum’s blockchain using cryptocurrency by investing money. In this article, we will discuss in detail how this game works.

What are CryptoKitties?

The crypto market is emerging. Trading applications like cryptocurrencies are popularizing crypto among new traders. But there are lots of applications of crypto outside the world of exchange. CryptoKittiies is one such fun application.

These are your adorable virtual pet cats and kittens. They are delightful little cats. Each cat is characteristically unique. There is not a chance of replication. Each cat is owned by one single person. It is not possible to destroy any virtual pet. The owner has full possession.

Through a dAPP(Decentralised Application), the kittens can be traded within the platform. They can be exchanged for fiat currency thus are also a store of value. Decentralized Application is a part of the DeFi field. Axiom Zen is the company that created CryptoKitties. This application runs of the Ethereum blockchain. Very recently the game became viral.

People made big money out of trading these virtual cats. An approximate amount of over twelve million dollars has reportedly been spent. Now let us see how we can play this unique crypto-based game.

How to play CryptoKitties?

Once a player enters the gaming circle, s/he owns nothing. The game is pretty simple. You have to buy a cat from the store, to begin with. The store here represents the market where the trading takes place. So it can be a little intimidating in the beginning. It is pretty user-friendly. You can start with a single cat but you need two cats to start breeding. How can you have two cats?

Option A: You can buy another cat.

Option B: you need to find a friend who owns a crypto kitty and will cooperate with you in the process.

Once you have two cats you can start the breeding process right away.  You have to select two virtual cats that you wish to breed together and just click a button. Once you are done, you will have an egg in your inventory. To hatch the eggs you have to click on them and voila! You have a kitten in your stock.

Now let us go through a few features of your virtual pet:

  • There are different generations of these cats and you can check it right below the number of the cat. For example, if you have two cats who belong to the first generation then the kitten you get after breeding them will be of the second generation.
  • There are two genders. In the CryptoKitties language, it is Dame and  There are no specifications on assigning human genders, but it is the Dame who gets pregnant, so that is where we stand.
  • After a successful breeding process, the parent cats go on a ‘resting period’ before you can breed them again.

As the process continues, an interesting mix of genes is formed and a generation continues.

  • The algorithm by which this blockchain function is called the ‘Genetic Algorithm’. It matches the real-time DNA functionalities. That coding of the kittens is like the DNA of living creatures. It holds information just like DNA holds genetics for humans.

The unique genetic algorithm of the CryptoKitties

The GA is called crossover, which happens when two virtual kittens reproduce a unique kitten. Now how is cryptocurrency associated with it? It is via Smart Contracts. In the cryptocurrency platform of Ethereum, there are two types of accounts. One is External Account and the other is Contract Accounts. Contract accounts are not owned by a single person.

For every transaction of the contract accounts, miners mine the blockchains and allocate necessary data. A contract account is the same as a Smart Contract. Every transaction is verified.

Conclusion

The cat values are based on the uniqueness of the cat. It is about being rare or the scarcity of kittens. There are several types of cats, some exclusive cats, and founder cats and each of them has its own values. It is wise to learn all market risks and liabilities before investing in the pleasure of virtual pets.

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