QunQun Whitepaper

Abstract

1.1 Golden turning point of blockchain application
CryptoKitties, a virtual cat-breeding game built on the Ethereum blockchain,
was launched on Nov.28, 2017. In a few days, the world witnessed the
frenzied fashion of global blockchain digital cat-breeding. The sales volume
of CryptoKitties on open market is up to 75,371 units by the end of 22 p.m.,
Dec. 9, 2017 with sales of 24,911.62 Eth, amounting to US$11,739,500.33.
The average price of each CryptoKitty is 126.11 dollars. There is no doubt that
CryptoKitties has become a phenomenal decentralised application (DAPP) on
Ethereum.

The overnight success of CryptoKitties reflects the fact that the blockchain
industry is at the very beginning of qualitative change – digital currency has
experienced explosive growth in 2017, and the number of digital wallets has
increased to more than 20 million from less than 5 million at the beginning of
the year. At present, Coinbase has more than 2 million users. This
skyrocketing quantity of users drives up user demands, and the great
popularity of CryptoKitties has fully revealed the strong user demand. The
introduction of iPhone gave rise to the realisation that phones are not
designed for calling up only; similarly, the great popularity of CryptoKitties
allows people to understand that the blockchain industry is not just confined
to a means of payment, but represents a new infrastructure of Internet in the
future. The great popularity of CryptoKitties indicates that the blockchain
industry is starting to enter the “App Big Bang” era.

1.2 Social applications will be the real killer application of
blockchain
Social applications are the most basic and most important form of Internet
since the birth of Internet. According to the development history of mobile
internet from 2008 to 2017, the rise of mobile social applications including
Facebook, Twitter, WeChat, Instagram, etc., and these can be viewed as a real
turning point of the transition from traditional Internet to mobile Internet.
From then on, the activeness and realisation potential of mobile Internet grow
up in a manner of geometric jump.

With the explosive growth of digital currency users, such geometric growth
will reappear in blockchain world. The rise of active individuals will be
followed by social demands among users, thus digital currency users should
be equipped with their own communication platform.

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