The Dogecoin chain has witnessed an unprecedented surge in daily transactions, reaching an all-time high of 650,000. Surprisingly, this surge in activity has momentarily outpaced even the popular cryptocurrencies Bitcoin and Litecoin. The driving force behind this surge is the increasing popularity of DRC-20 standard tokens being cast on the Dogecoin chain.
What are DRC-20 Tokens
These tokens adhere to a specific set of rules, enabling compatibility and seamless interaction with the Dogecoin network. While ERC-20 tokens dominate the Ethereum ecosystem, DRC-20 tokens are gaining traction due to their unique features and potential use cases.
The Rise of DRC-20 Tokens
The surge in DRC-20 token transactions on the Dogecoin chain can be attributed to several factors. First, the growing popularity of decentralized finance (DeFi) applications has prompted developers to seek alternative platforms beyond Ethereum. Dogecoin’s lower transaction fees and faster confirmation times have made it an attractive option for token issuance and trading