Polygon co-founder Sandeep Nailwal revealed in a latest post on X that the blockchain recorded over 161 million inscriptions. The inscription statistics shared by the co-founder place BNB in the second spot with 77 million inscriptions and Avalanche follows with 60 million.
Nailwal shared, “Highest number of inscriptions on @0xPolygon POS, 161m. More than 2X the amount of inscriptions on the second-ranked chain for inscriptions.”
Inscriptions, akin to Ordinals on Bitcoin, function information embeds very like smart-contract-based ERC20 tokens and NFTs.
In the put up, Nailwal made a pointed comment about rivals, significantly Avalanche, highlighting that gasoline charges on Polygon remained below 10 cents. In distinction, he famous, the charges on different networks soared to $400. “We hit a peak of 18 million transactions in one day,” he added.
The co-founder additionally likened the gasoline payment uptick throughout peak exercise to a horror story.
Data from the DUNE dashboard reveals Avalanche’s substantial gasoline charges. The proportion of gasoline spent on inscriptions is highest for Goerli at 91%, adopted by Avalanche at 68.5%, in the previous 24 hours.
Transaction exercise on December 19 confirmed gasoline spent inscripting on Avalanche topped $150,000, whereas Polygon’s charges have been a mere $29.
A previous tweet from Trader Joe’s co-founder Cryptofishx on X pointed to BEEG minting as the reason for the gasoline payment improve. BEEG is a DeFi token on Avalanche. Cryptofishx’s tweet learn, “I was thinking we might take weeks to mint out but looks like we’ll get there much sooner. The sooner the better so gas prices can get back to where they originally were.”
Impeccable timing pic.twitter.com/tolVPFeVKR
— Daeshawn.sol | 👨🏾💻☁️🎮 (@DaeshawnBallard) December 18, 2023
Meanwhile, Avalanche’s market pattern seems upbeat, based on Token Terminal data. At the time of writing, its worth has exceeded $40, marking a major improve throughout time frames.
There’s a surge in day by day energetic customers and income. However, this heightened exercise brings about community points, evident in rising charges and congestion. Therefore, it appears like scalability options will take the entrance seat with EVM chains going ahead.
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