Polygon co-founder Sandeep Nailwal revealed in a current post on X that the blockchain recorded over 161 million inscriptions. The inscription statistics shared by the co-founder place BNB within the second spot with 77 million inscriptions and Avalanche follows with 60 million.
Nailwal shared, “Highest variety of inscriptions on @0xPolygon POS, 161m. Greater than 2X the quantity of inscriptions on the second-ranked chain for inscriptions.”
Inscriptions, akin to Ordinals on Bitcoin, function knowledge embeds very like smart-contract-based ERC20 tokens and NFTs.
Within the publish, Nailwal made a pointed comment about rivals, significantly Avalanche, highlighting that fuel charges on Polygon remained beneath 10 cents. In distinction, he famous, the charges on different networks soared to $400. “We hit a peak of 18 million transactions in in the future,” he added.
The co-founder additionally likened the fuel price uptick throughout peak exercise to a horror story.
Knowledge from the DUNE dashboard reveals Avalanche’s substantial fuel charges. The share of fuel spent on inscriptions is highest for Goerli at 91%, adopted by Avalanche at 68.5%, prior to now 24 hours.
Transaction exercise on December 19 confirmed fuel spent inscripting on Avalanche topped $150,000, whereas Polygon’s charges have been a mere $29.
A previous tweet from Dealer Joe’s co-founder Cryptofishx on X pointed to BEEG minting as the reason for the fuel price enhance. BEEG is a DeFi token on Avalanche. Cryptofishx’s tweet learn, “I used to be pondering we would take weeks to mint out however seems like we’ll get there a lot sooner. The earlier the higher so fuel costs can get again to the place they initially have been.”
Impeccable timing pic.twitter.com/tolVPFeVKR
— Daeshawn.sol | 👨🏾💻☁️🎮 (@DaeshawnBallard) December 18, 2023
In the meantime, Avalanche’s market pattern seems upbeat, in response to Token Terminal data. On the time of writing, its value has exceeded $40, marking a big enhance throughout time frames.
There’s a surge in day by day lively customers and income. Nonetheless, this heightened exercise brings about community points, evident in rising charges and congestion. Subsequently, it seems like scalability options will take the entrance seat with EVM chains going ahead.
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