Finance & Markets

Xiaomi Introduces CryptoBunnies Against CryptoKitties

One of the largest and rapidly evolving smartphone manufacturers, Xiaomi has entered a completely new segment that deals with Blockchain technology. It has silently rolled out its Jiami Tu which if translated means CryptoBunnies. This launch comes with an objective to make the Blockchain and cryptocurrency associated business more competitive for the early entrant CryptoKitties.

What actually are CryptoKitties and CryptoBunnies?

It is based on crypto collectible based game, which enables the owner to purchase the kitties or bunnies, breed, or trade them. The overall process of buying and breeding is done through cryptocurrencies and managed with Blockchain technology. However, CryptoKitties came in far earlier and was developed by Axiom Zen, while CryptoBunnies is recently introduced By Xiaomi.

In terms of the service offerings for CryptoBunnies, It enables Xiaomi account holders to take on digital rabbits with cute designs and limitedly developed on Blockchain system. This Blockchain system accumulates all the transaction of every adoption. It is so far undeclared whether the company is utilizing private or public Blockchain to operate the product.

The company also stated in its service agreement that for now it will only issue a restricted number of digital pets. The adoption will start at 11.00 am as per the Beijing time on daily basis. However, the total quantity to be issued is yet to be disclosed. The service also notes the increasing emphasis on developing Blockchain application and potential analysis of this latest technology and user engagement. In order to augment the company’s internet solutions, Xiaomi is already connected with Hyperledger, a Blockchain consortium supported by Linux Foundation.

The similar service was also started by China’s internet giant Baidu that involved crypto dog service in last month. And just after the month CryptoBunnies comes in.

Xiaomi also particularly highlighted that the platform disallows any trading between amid cryptocurrencies and fiat or fundraising with the help of new crypto collectible.

Arpit Mehta

Arpit is a well ripened fruit in the field of finance and markets. When it comes to numbers, nobody can catch this guy’s hand. Needless to say that he does not require a calculator, he himself is the calculator for the Market Global News’ team. In his free time, you will find him grabbing a cup of coffee with his friends.

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