An interesting bitcoin fact is that when the protocol for the bitcoin network was set up, the limit was set at 21 million coins. As a result, at some point, no more new bitcoins can be created by cryptocurrency miners.
When you help complete transactions on the bitcoin blockchain, you’re said to be bitcoin mining by using computing power through a process known as proof of work. You can receive a reward for mining bitcoin in the form of the digital currency itself.
When using the ethereum blockchain to complete transactions, you’re required to pay for gas. On the ethereum network, gas represents the computational effort used to complete the transaction.
CryptoKitties, one of the first blockchain games, offers a way to breed one-of-a-kind digital cats. CryptoKitties aren’t a currency — instead, they’re part of the non-fungible token (NFT) world.
Back in 2018, someone paid 600 ether (ETH) for a CryptoKitty Dragon. At the time of the sale, 600 ether was worth about $170,000. The price of one ether is at $1,290 as of Sept 22, 2022, meaning that 600 ether would be the equivalent of more than $770,000. That’s one expensive digital cat!