CryptoKitties has taken the world by storm, both among crypto holders and entering into the mainstream, and its proving what we at WAX have been saying all along — digital trading in the gaming industry will drive global mass adoption of cryptocurrencies, to the point where the volume of transactions requires a custom blockchain solution like the one that WAX is building.
CryptoKitties is a game where users buy, sell and breed digital cats using ERC20 tokens. It’s been responsible for up to 15% of all transactions on the Ethereum blockchain. This instant virality of this game shows the power and impact of digital item trading within video games compared to other use cases for crypto currency.
When WAX launches to the millions of users on OPSkins later this month as well as other sites, we expect the number of weekly transactions to be in the hundreds of thousands just to start with, since OPSkins currently processes 2 million item transactions per week on its current centralized platform. The Ethereum blockchain would be overloaded, since nearly 700,000 Ethereum transactions occur daily.
That’s why WAX is building a custom blockchain. The predicted virality and subsequent transactional volume would overload the ETH blockchain, and so a custom solution is necessary.