CryptoKitties Backlog Growing But Has Made $2.6 Million In Just Over 24 Hours

CryptoKitties

As we reported previously, the new game on the Ethereum Blockchain, CryptoKitties, is blowing up and has been making major headlines.

Source: etherscan.io

CryptoKitties has now reached $5,670,214.55 USD and the total individual “digital cat” sales that have been made in the game are 44,949. The game’s sales are up $2.6 million, in just over 30 hours and it continues to rise despite the heavy backlog of transactions.

Due to the popularity of the blockchain-based games, the Ethereum blockchain has been severely slowed down. At press-time, the blockchain has a backlog of just over 20,800 transactions and that is 10,000 transactions more, from yesterday. You can see in the chart above that since CryptoKitties’ launch back on November 29th the transactions on the Ethereum blockchain have increased substantially. Due to the backlog and in fear of losing users, CryptoKitties has now doubled the “birthing fee” of the cats and has promised to look into a more long-term solution. The issue has to do with every single transaction made on the site, whether it’s buying a kitten, putting it up for sirening, selling a kitten or any sort of payment is an individual transaction that is recorded on the blockchain.

Source: ethgasstation.info

Currently, the game is taking up almost 18 percent of Ethereum’s total blockchain, up eight percent from just yesterday and at its peak this weekend, it hit just over 15 percent.

This issue brings to the forefront a huge scalability issue that is among most crypto-currency blockchains and one Ethereum’s founder, Vitalik Buterin has been diligently working on. This game might have just sent the Ethereum developers in more of a rush, as they are already in the works of scaling the blockchain with various projects.

Buterin just recently offered his opinion on twitter about the game saying, “I actually like the digital cat games. They illustrate very well that the value of blockchain extends far beyond applications that would literally get shut down by banks or governments if they did not use one.”

Ether’s price is currently trading sideways despite the game boom at $463.25 and is down just -1.18 percent for the day, as per Coin Market Cap.

As the game continues to gain popularity, we will see how quickly these Ethereum developers can work to find a reasonable solution.

Source: cryptokitties

Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. In addition to content writing, she is an experienced Social Media Manager/Strategist. Before moving to Canada, she spent 10+ years marketing and working hands on in the medical practice industry.