The Unofficial HelloDogs Wiki
With so many games being added to the Ethereum blockchain, it takes a lot for one to stand out. HelloDogs has done that by taking the concept of breeding unique assets and adding financial incentive for owners who see the long-term future of the game. We've got a full explanation of how it works and why people are snatching up these cute puppies. Before you invest in digital assets like these, read up on MetaMask and how to use Coinbase and ShapeShift to supply it with Ether. This video was made with Ezvid Wikimaker.
How Is Hello Dogs Different From CryptoKitties?
CryptoKitties was one of the first games to take advantage of the Ethereum blockchain, allowing users to own unique virtual cats that could be bred and sold. Many copycats followed that were essentially the same game but with different tokens. More complicated games soon popped up, like Etheremon, which involves battling between "Mons," and CryptoCities, which is a full-on strategy game with blockchain-based tokens. HelloDogs looks a lot like CryptoKitties, but it expands on the idea by having a limited amount of Gen 0 dogs, and as more dogs are bred, the owners of the Gen 0 dogs will profit. There is also a lottery, through which players can earn more Ether. It's possible this can be profitable as well as fun and adorable.
Buying Cartoon Cats On The Blockchain
Is HelloDogs A Currency?
If you're educated about Bitcoin and Ethereum, you know how digital currencies are managed through the blockchain. Ethereum allows users to purchase alternative assets and trade them on exchanges like ForkDelta. Hello Dogs are different because each dog is unique; no two are the same, and no one can own your dog but you. This makes them similar to Factbars, assets that can't be duplicated. These crypto collectibles are a whole new class, and their value can sometimes skyrocket if they are rare. They can be sold on marketplaces like OpenSea and Rare Bits, but can't be exchanged like a currency.
Crypto Collectibles And Non-Fungible Tokens
HelloDog, also called Hello Dogs, is a blockchain-based game that involves the breeding of virtual dogs that can be bought and sold through smart contracts on the Ethereum blockchain. Launching in 2018, the game follows in the footsteps of predecessors like CryptoKitties and Etheremon, but adds an additional element of financial incentive through a lottery that pays dividends to users. We've got a full breakdown of how the site works and why it's growing in popularity.
First, let's cover how these virtual puppies are different from other digital tokens. Most people are familiar with Bitcoin and Ethereum, cryptocurrencies that rely on blockchain technology. Ethereum is notable because it allows for the creation of decentralized applications, or dapps, that use smart contracts to allow for the trading of alternative assets on Ethereum's blockchain.
Most tokens on the Ethereum blockchain adhere to a standard called ERC20, a set of six functions for smart contracts that regulate how they are to operate. This can include coins issued by companies in I.C.O. releases, idle games like Ether Shrimp Farm, or dapps like PoWH3D and Gandhiji that promise income based on participation and referring others to the service.
ERC20 tokens are like Bitcoin and Ether in that they are fungible, meaning each token of a certain type is the same. If you have two Bitcoins, and you plan to sell one, it doesn't matter which one you sell because they are worth the same amount. You can also deal in fractions of a coin just like you can with dollars and cents. But some assets are unique, or non-fungible.
To handle unique assets, ERC721 was created. This is a standard for smart contracts dealing in digital assets that are not all the same. One popular example is Factbar, online representations of facts that are researched and verified. If you own a Factbar, you are the only person who owns it at that time, and every Factbar has its own unique value. Highly-desirable Factbars are therefore very valuable because they are rare.
One of the first games to take advantage of this growing market was CryptoKitties, digital cats that each have their own traits. They can be bred with one another to produce other kitties, and those with rare traits can fetch high prices. Millions of dollars worth of Ether has changed hands on CryptoKitties.
Hello Dogs is incredibly similar to CryptoKitties, only using dogs instead of cats. 2 Genesis Dogs and 100 Gen 0 dogs were sold by the site, and from those dogs, more can be bred. You can get a new dog either by purchasing one from a user, or by breeding two dogs together. Some users bought two Gen 0 dogs, bred them, and then sold the offspring. With each breeding, you have to wait before your dogs are ready to breed again.
To use the site, you'll need a digital wallet on MetaMask, and you'll have to supply it with Ether with a site like ShapeShift that allows you to convert Bitcoin to Ether. Once you sign up for a wallet on HelloDog, you're ready to go. You'll notice that some dogs have higher prices than others, which is due to the fact that each dog is unique. The blockchain ensures that you are the only person who owns your dog, and there are millions of possible permutations of traits through breeding.
Beyond the sale and breeding of rare dogs, HelloDog hopes to entice users who want to earn a profit from their pooches. As breedings occur, those with Gen 0 dogs and Genesis dogs receive a reward for each breeding that comes from their ancestors. And when an extremely rare, or mutated dog, comes about, the site advertises that it will redeem them for a profit. The more people play, the more mutations will arise, and the more coveted rarities will be.
Hello Dogs also offers a lottery 15 times per month. Every two days, there is a drawing among every dog except Genesis dogs, those in Gen 0, and mutated dogs. Numbers are displayed on the home page, and the winner can claim a prize. This combines the notion of dividends that is seen in dapps like Ether Shrimp Farm or Gandhiji with the notion of a unique asset like in CryptoCountries.
Hello Dogs is fairly new, which is good news to those who missed the boat on CryptoKitties and want to get in at the beginning of a new phenomenon. It's aimed at users outside the US, as the main page has to be translated to English using the provided link. Anyone who can use MetaMask and ShapeShift can play the game, and possibly earn money. No one is sure how popular this will become, but Hello Dogs could be the next big thing in the blockchain world.