This was a popular meme in https://writeablog.net/ormodanusn/the-more-you-stake-the-more-transactions-youandrsquo-re-allowed-to-verify-and 2013 when Dogecoin was introduced. Each kitty is unique and can’t be replicated; therefore, they have a unique value, similar to artwork. By the way, CryptoKitties are built on the Ethereum blockchain.
New bitcoins are released through mining, which is actually the process of validating and recording new transactions in the blockchain. The miner who achieves this first is rewarded with new bitcoin. It’s worth noting, however, that the market capitalization does not represent how much money entered a particular market. For instance, it’s a common misconception https://cryptoboarding.com/ among newcomers that the Bitcoin market cap represents the total amount of money invested in Bitcoin. But that doesn’t make sense because the market cap depends on the price and supply. As you might imagine, the market capitalization of a cryptocurrency network is a more accurate representation of the value in the network than the price of an individual unit.
