Patch Notes #120 — Digital Cats Ate the World Computer
The most 2017 sentence ever written, and I get to write it: trading of cartoon cats has congested the Ethereum network. CryptoKitties (collectible, breedable, blockchain-native cats) launched last week and immediately became the largest consumer of gas on the “world computer,” at points comprising 15-20%+ of all network traffic, backing up transactions globally and spiking fees for everyone trying to do, you know, finance. People have paid over $100,000 for a single virtual cat. The serious take hiding in the absurdity: this is the first organic consumer dapp product-market fit, and it instantly hit the scaling wall. Ethereum does ~15 transactions per second, total, planet-wide, and one viral toy saturated it (the whole chain is one hot partition, by design). Every scaling roadmap conversation (sharding, layer-2, state channels) just got its forcing function, and its mascot. Thundering herds (drink) now come in kitten form. ...