A lot of transactions over the Ethereum network have nothing to do with Ether itself. This is apparent when looking at the recent transaction spike for ERC-721 tokens.
A powerful and popular network like Ethereum attracts a lot of attention.
Not only are there the Ether users to contend with, but also plenty of token holders and dApp users.
It now appears the ERC-721 tokens are being transferred at an increased level.
So much even that the recent throughput is a fourfold increase compared to two weeks ago.
This increase is, according to CoinMetrics, the direct result of the Gods Unchained dApp.
It is a digital blockchain-based trading card game where users effectively own the cards in their deck.
This project alone is responsible for seeing 6 million card assets transferred over the Ethereum network in the past few days.
If this trend keeps up, one would expect the Ethereum network to get clogged up again.
Despite this increasing volume by Gods Unchained, it appears Ethereum continues to chug along without any problems.
Most of the network blocks have ample size for additional transactions, either Ether-based or otherwise.
One can attribute this “success rate” to Gods Unchained as well, by the look of things.
The dApp’s team tries to batch transfers into one single transaction whenever possible.
In doing so, the dApp cuts down on so-called blockchain bloat which is often the reason why networks suffer major transaction delays.
For the time being, these statistics will remain interesting to keep an eye on.
If more dApps can deploy this way of handling token transfers, Ethereum might remain bloat-free for the foreseeable future.
Over the years, the crypto space has seen powerful competition with innovative developments. Recently, a…
Revolutionary new comer, TMS Network (TMSN) is leading the crypto race in 2023, outpacing competitors…
Crypto investing may be profitable, but only the most promising tokens are set to bring…
News of the TMS Network (TMSN) presale 1 event sent shockwaves in the crypto world…
The recent turn of events in the crypto market has denoted that a crypto gold…
As the crypto market continues to grow, the competition between tokens becomes increasingly fierce. Solana…