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PANIC swept the cryptocurrency community in the wake of Kosovo's ban on crypto mining, and in the US, a new bill might challenge the Federal Reserve's future ability to issue crypto. Minnesota Republican Tom Emmer introduced the bill, which would keep the federal government from issuing a US-backed digital currency. Emmer argues that central bank-issued digital currencies CBDC would allow the government to surveil American consumers. Meanwhile, Kosovo's government made the announcement banning crypto mining at the end of , saying the temporary ban on mining is meant to offset an energy crisis in the region. The country has the cheapest energy prices in Europe, according to The Guardian , which has made it a desirable location for crypto-mining operations. For investing individual stocks, make sure you check company reports, Securities and Exchange Commission SEC filings, broker notes, and press releases so you can make the best decisions for your money.
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Crypto Gaming: How Cryptocurrency and NFTs Affect Games Today
CryptoKitties was the first widely recognized blockchain game. Players could own, breed, and trade kitties, which are the only prop in the game. The game gained explosive growth upon its release but quickly collapsed in a short time. This study analyzes its entire player activity history for the first time in literature and tries to find the reasons for the rise and fall of this first blockchain game mania. First, we extracted the five million transaction records among thousand addresses involved in CryptoKitties in the past three years.
Based on the numbers of addresses involved in the game each day, we divide the game progress into four stages: the primer, the rise, the fall, and the serenity. We construct a temporal kitty ownership transfer network and analyze the varying network parameters in the four stages.
We find that a large number of players poured in during the 10th and 18th days since the game release and quickly exited in the following month. Since then, a few big players have gradually dominated the game, concentrating the game resources. Through further analysis, we find that the main reason for the rapid increase in the game popularity was the increase of public attention by media outlets, while the reasons for the rapid decline in the game popularity include the oversupply of kitties, the decreasing of player income, a widening gap between the rich and poor players, and the limitations of blockchain systems.
Based on these observations, we advise on the further blockchain game design: 1 to finely control the production of props and avoid an oversupply, 2 to balance the gaming cost and revenue and protect the enjoyment of players, 3 to narrow down the gap between rich and poor and create an equal gaming community, 4 to consider the limitations of blockchain systems in their game designs. Blockchain, emerged as the underlying supporting technology for Bitcoin [ 1 ], is a distributed ledger system providing non-tampering and traceability functionalities.
Ethereum [ 2 ], also known as the blockchain 2. Developers can use smart contracts to create various decentralized applications, especially games. Blockchain games are considered to have unique advantages over traditional online games in that their gaming data and logic are transparently stored and executed on blockchains [ 4 ]. These advantages particularly suit games with in-game payment and chance mechanisms, e.
As a result, current designs of blockchain games mainly revolve around the generation, ownership, and trading of virtual assets [ 5 ]. Cryptokitties is a blockchain game released on Ethereum in late November Players can own, trade, and create virtual kitties, represented by non-fungible tokens meeting the ERC token standard in the game. The attributes and transactions of kitties are recorded in the Ethereum blockchain. Nonetheless, Min et al.
Not surprisingly, the popularity of CryptoKitties only lasted for a short period, too. Specifically, we first construct a kitty ownership transfer network and investigate the network structural changes over time. Based on our observations, we pinpoint the deficiencies in the design of CryptoKitties and provide suggestions for further development of blockchain games. Network analysis methods have been applied to cryptocurrency transaction records in many previous works. Chen et al.
Somin et al. Guo et al. Except for the Ethereum blockchain, similar methods have also been used to analyze transactions on other blockchains, such as EOSIO [ 10 ].
The rest of this paper is organized as follows. In Section 3, we construct the kitty ownership transfer network and define network structural properties.
In Section 4, we divide the progress of the game into four stages and examine the changes of network parameters in different stages. We will discuss the reasons for the rapid change in the popularity of CryptoKitties in Section 5. Section 6 concludes the study and provides suggestions for the further development of blockchain games.
The names of these contracts could be found on Etherscan [ 11 ]. Based on these contracts, players can trade or transfer kitties with other players and breed new kitties. There are three ways to trade or transfer a kitty. The seller lists a kitty for sale with an initial price, a final price, and a price change period to the SalesAuction contract. The initial price is usually higher than the final price. After the auction begins, the kitty price will change linearly from the initial price to the final price at a constant rate during the price change period.
The price will not change after this period. Unless bid by a buyer or canceled by the seller, the kitty will remain in the SalesAuction contract. Upon receiving a bid, the SalesAuction contract will send the kitty to the buyer and transfer the payment to the seller.
The game publisher also sells 0-generation kitties to players in this way. A player can either call the transfer function to transfer his kitty to another player or the approve function to allow other players to transfer his kitty. Transferring a kitty in this way does not necessarily mean that the player is trading the kitty but can also be sending a kitty as a gift to a friend.
In this way, the buyer initiates a request to the seller and sends the purchase fee to the Offers contract. When trading kitties through the SalesAuction, the game publisher charges the sellers for 3. Same rate of dealing price will be charged to the buyers using the Offers contracts.
When calling any function in each contract, the players also need to pay gas fees to Ethereum miners through their Ethereum wallet. The gas fee is usually between 0.
There are two ways to breed a new kitty. After this operation, the mother kitties can be arbitrarily chosen between the two will become pregnant for a period. After this period, a player, also called the midwife, will call the give birth function in the Core contract to give birth to the new kitty.
The newborn kitty will be transferred to the owner of the mother kitty. The breeding fee will be compensated to the midwife for their Ethereum gas fees paid. A midwife is also needed in this case. When a kitty is rented out through the Siring Auction contract, the game publisher will charge the lender 3. The breeding fee varied over time see Figure 1. It was set to 0. However, due to the congestion of the Ethereum network resulting from the gaming transactions, the gas fee was raised.
The game publisher increased the breeding fee to 0. Such adjustment happened several times afterward, but despite that, the breeding fee has been stable at 0. The transactions span from November 23, , to May 19, The data involved 1,, kitties, , addresses, and 5,, transfer records. There are nine types of transactions see Table 2 related to the movements of kitties, including the trading, transferring, and the new birth of kitties. Consider participation rate as the ratio of the number of addresses that take part in a specific activity to the number of all addresses in CryptoKitties, buying kitties through the SalesAuction contract has the highest participation rate Participation rates are also high for breeding kitty Players showed low interest in lending The actual ownership of the kitties only changes when 1 the sales auction on the SalesAuction contract is fulfilled, 2 the trading through the Offers contract is fulfilled, and 3 kitties are transferred directly using functions in the Core contract.
The network contains , nodes and 1,, edges. It can also be considered as the ratio of the number of sellers to buyers in the game. The Gini coefficients for the in-degrees G k in and out-degrees G k out of all nodes can be defined likewise. The average clustering coefficient c is used to measure the clustering degree of the network, which is defined as.
Multiple edges between u and v are considered as one even with the same t in this case. High average clustering coefficient means that players interact closely with other players. Again, multiple edges between u and v are considered as one even with the same t in this case. High reciprocity means that the relationship between addresses is relatively strong, and the owners of these addresses are likely to know each other.
The degree assortativity coefficient r measures the similarity of connections in the network with respect to the node degree:. The direction of edge is ignored and multiple edges are considered in the calculation. Using the numbers of daily addresses related to CryptoKitties transactions, the game can be divided into four stages: the primer, the rise, the fall, and the serenity, as shown in Figure 2.
The primer: The game was released on November 23, There were not many players before December 2, The rise: A large number of players entered the game since December 2, The game popularity rapidly increased before reaching a peak on December The fall: Since then, the popularity has dropped sharply. The serenity: After January 15, , the popularity stabilized into a long-term slow downward trend. Figure 3 shows four snapshots of the network in each of the stages. The network size shrinks apparently over time.
Four stages of the game. The three dotted lines correspond to December 1, , December 10, , and January 15, , respectively. Visualizations of typical networks in every stage. Nodes in the network are filtered by out-degree. B The network contains a large number of nodes in stage 2. C The network shrinks in stage 3.
D Only long-term players are left in stage 4. The evolution of network structural properties in the four stages are shown in Figure 4. In the first stage, the Gini coefficient of out-degrees decreased suddenly. Soon after that, players began to breed new kitties and sell them to each other.
Bitcoin: What is it?
It has a circulating supply of , PI coins and a total supply of , PI. If you are looking to buy or sell PI, PancakeSwap v2 is currently the most active exchange. Pi network is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency PI, to facilitate programmable payments and open financial infrastructure development. Would like to know the latest Pi network price?
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Maker is down 1. Both changed hands for the same amount of ETH, but a rise in the ETH price a not uncommon event saw the later sale win out. In what important sense is that NFT scarce and also desirable? In his playing career he played almost matches and scored over goals. CryptoPunk And also many creators will become aware of the possibility to monetize their tweets. Decentralized finance revived the need for a fundamental feature of blockchain technology, decentralization. Edition of 1. NOTE: Editions minted before the drop are copies reserved for the artist. After, you'll be taken to the "Create an NFT" page.
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We may receive a commission if you sign up or purchase through links on this page. Here's more information. With the chance to earn a significant amount of money through cryptocurrency, you might be looking into simple ways to amass cryptocurrency for yourself. While cryptocurrencies are often volatile, they can provide much greater rewards than traditional investment ventures. That said, cryptocurrency is extremely volatile.
23 Ways to Get Free Cryptocurrency
NFT games are currently on the rise as more and more people are becoming interested in them. These nonfungible token titles allow people to enjoy different kinds of gaming experiences. Aside from these, they could also earn cryptocurrencies from their characters, items, and other in-game content, depending on the title you are currently playing. NFT has become a big hit after different artists and game developers started to generate a lot of revenues from these digital tokens. Unlike crypto, nonfungible coins will have different values depending on their popularity.
The Ultimate USA Crypto Tax Guide 2022
Last updated: Tuesday, 7 December The IRS has set out clear guidance on how crypto is taxed. We're breaking down everything you need to know about taxes on crypto in the US in our ultimate crypto tax guide including how crypto is taxed, the crypto tax rate, crypto capital gains tax, crypto income tax and how crypto tax software can help simplify crypto tax for you. At Koinly, we keep a very close eye on the IRS crypto policies and regularly update this guide to keep you informed and tax-compliant. Yes, you'll pay tax on cryptocurrency in the US - and pretty much any other country in the world too.
Play & Grow your Crypto Farm
Cryptoblades wiki. I want to start using CryptoBlades. It was developed and published by Riveted Games.
Facebook's parent and its partners are getting out of the troubled cryptocurrency project. It's the end of the day for Diem, Meta's troubled cryptocurrency. Facebook parent Meta and its partners in the Diem Association pulled the plug on the yet-to-launch cryptocurrency project amid growing resistance from regulators. Bloomberg had earlier reported that the association, which oversees the digital currency, was considering a sale of the project in order to return capital to its members.
Non-fungible token NFT crypto collectibles like artwork and videos exploded in popularity in early , but several blockchain-based video games had already been building in the space before most people took notice. And when the wider NFT market cooled a bit after all of that hype… well, Axie Infinity got even bigger. Axie Infinity is a monster-battling game where you pit teams of cute monsters called Axies against each other in battles. The game runs on the Ethereum blockchain with the help of Ronin, a sidechain that helps minimize fees and transaction delays. It's primarily focused on turn-based battles, either against computer-controlled Axie teams or live opponents over the Internet. In-game items are represented by NFTs, or non-fungible tokens. These cryptographically unique tokens can be linked with digital content; in Axie Infinity's case, the Axies and land plots that populate the game.
Join , subscribers and get a daily digest of news, geek trivia, and our feature articles. By submitting your email, you agree to the Terms of Use and Privacy Policy. As for why it took Raspberry Pi so long to release the bit version for the masses, the company said it wanted to focus on compatibility between devices, so it stuck with the bit version. If you want to install the latest version of Raspberry Pi OS on your device, you can head to the download page and snag it right now.
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