In the last week, the number of transactions on avax’s C-Chain has skyrocketed, reaching 2.3M daily transactions. This is a big jump from the usual average of around 450k daily transactions.
#Avalanche‘s “ASC-20” tokens, similar to Bitcoin Ordinals, use inscription to store information on the blockchain. In simple terms, while Bitcoin Ordinals assigns numbers to certain parts of Bitcoin transactions, ASC-20s have users write down information within the transaction itself.
The rise in ASC-20 transactions has had a major impact on the Avalanche Primary Network, which involves over ~1.5k validators reaching an average of 40-plus transactions per second. So far, more than 6.8M transactions have involved ASC-20 tokens.
However, it’s still early for these tokens to be actively traded because there are no specific marketplaces or an easy way to see what tokens have been created…
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